Net fee momentum delivered by management focus and execution
Growth in a number of key regions and sectors despite the Covid-19 impact
Continued sequential improvement in underlying performance quarter-on-quarter
Continuing to pursue strategic initiatives we believe will drive further success
Initial response
Ongoing management
Recovery phase
3 phases of response to the COVID-19 crisis by SThree
2
Q1 - TRADING
Performance ahead of management expectations
Q1
Q4
Q3
Q2
Q1
2021
2020
2020
2020
2020
YoY
YoY
YoY
YoY
YoY
Contract
-2%
-6%
-12%
-10%
+2%
Permanent
-
-10%
-19%
-17%
-6%
Group
-1%
-7%
-14%
-12%
-
Group net fees, adjusted for working days, equalling Q1 2020
Contract business model resilient with net fees adjusted for working days flat vs Q1 2020
Sequential improvement in Contractor order book up 1%, (Q4 2020: -9%)
Encouraging growth in DACH, strong growth in USA
Net fees in Life Sciences up 14% and Technology up 1%
Top five countries represent 85% of Group net fees, with Germany being 33% and USA 24%
3
Q1 - REGIONAL PERFORMANCE
DACH:
Net fees up 3% in Q1 representing robust growth
Improved demand in Life Sciences and Technology
EMEA excluding DACH:
Reflects sequential improvement in both UK and NL with continued strength in Dutch Engineering
USA:
Very strong performance in Q1
Clinical Operations, Quality Assurance and Mobile Applications continue to be in high demand
APAC:
Japan, our largest country in the region, encouraged by underlying new deal activity at the end of quarter
4
Q1
Q4
Q3
Q2
Q1
2021
2020
2020
2020
2020
YoY
YoY
YoY
YoY
YoY
DACH
+3%
-2%
-9%
-9%
+9%
EMEA
exc
-14%
-20%
-22%
-17%
-6%
DACH
USA
+19%
+11%
-3%
-2%
-
APAC
-14%
-30%
-27%
-36%
-11%
GROUP
-1%
-7%
-14%
-12%
0%
CONTINUED STRONG POSITIONING
STRONG BALANCE SHEET
£57m
net cash at 28 Feb 2021
(2019: £9m)
RESILIENT CONTRACT BUSINESS MODEL
75%
of net fees
(Q1 2020: 75%)
A DIVERSE GROUP TARGETING KEY MARKETS & SKILLS
16%
7%
33%
20%
11%
48%
16%
24%
24%
Germany
USA
NL
UK
ROW
Technology
Life Sciences
Engineering
Banking
Other
5
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SThree plc published this content on 24 September 2021 and is solely responsible for the information contained therein. Distributed by Public, unedited and unaltered, on 24 September 2021 16:41:09 UTC.
SThree plc is a United Kingdom-based global specialist talent partner focused on roles in Science, Technology, Engineering and Mathematics, providing permanent and flexible contract talent. Its segments include DACH, Rest of Europe, Netherlands including Spain, USA, and Middle East & Asia. DACH segment includes Austria, Germany and Switzerland. Rest of Europe segment includes Belgium, France and the United Kingdom. Middle East & Asia segment includes Dubai and Japan. Its brands include Progressive Recruitment, Computer Futures, Real Staffing and Huxley. Progressive Recruitment is involved in start-up and blue-chip multinational sectors, providing sought-after specialists in engineering, life sciences, information technology, global energy, construction and supply chains. Computer Futures is a specialist IT recruitment provider. Real Staffing is engaged in recruitment for the pharmaceuticals, medical devices and biotechnology sectors, with specialist services within the public sector.
STHREE PLC 
