SYNERGIE SE Paris, 12 September 2018, 5.45pm
Growth in SYNERGIE'S turnover and net profit
in the first half
The Executive Board of SYNERGIE, chaired by Daniel AUGEREAU, met on 12 September 2018 and approved the financial statements for the six months ended 30 June 2018. The limited audit procedures for these financial statements are complete and the related report is being issued.
| Audited consolidated data - in € million | H1 2018 | H1 2017 | ||
| Turnover | 1,238.8 | 1,098.7 | ||
| Current operating profit (1) | 57.7 | 59.2 | ||
| Operating profit | 53.1 | 52.9 | ||
| Profit before tax | 52.5 | 52.1 | ||
| Net profit | 36.6 | 35.8 | ||
| Net profit, Group share | 35.5 | 35.3 | ||
| (1) Before amortisation and impairment of intangible assets | ||||
First-half turnover of €1,238.8 million
With a 710-strong branch network and extensive international operations spanning 16 countries in Europe as well as Canada and Australia, the Group generated consolidated turnover of €1,238.8 million, up 12.7% in relation to 2017 (9.1% on a like-for-like basis).
Growth in the international operations continued at a very fast pace, reaching €649.8 million (+19.9% over the period); 52.5% of consolidated turnover is now generated outside of France.
Activity in France showed further growth, with the selection of clients that generate good profitability.
Improvement in net profit
SYNERGIE posted consolidated current operating profit of €57.7 million.
The positive impact of growth in activity was offset by the impact of various legislative or regulatory measures, particularly in France where there was a reduction in the CICE competitiveness and employment tax credit rate from 7% to 6%, but also in other countries (Belgium, Germany, Netherlands, etc.).
Structural costs and investments related to the creation of specialised branches and the recruitment of consultants, as well as digital transformation, the development of IT tools and targeted training programmes, were strictly managed.
Impairment of goodwill and other intangible assets in the amount of €1.9 million was recognised in the United Kingdom related to the consequences of Brexit.
Taking into account the above items and a €16 million tax expense, net profit came to €36.6 million, representing an increase in relation to 2017 (€35.8 million).
A solid financial structure
The financial structure thus strengthened, with shareholders' equity of €450.9 million at 30 June 2018 and net cash (including available CICE tax credits) of €83.5 million, giving the Group the resources needed to pursue growth and make new acquisitions, in particular abroad.
Strategic acquisition
On 7 June 2018, SYNERGIE announced it had acquired a majority stake in the French digital services firm DCS EASYWARE.
This acquisition gives SYNERGIE a positioning on a growth market and rounds off our traditional activities, in line with our main counterparts, with diversification in facilities management, advisory and technical assistance.
A favourable outlook
SYNERGIE Group intends to build on these performances to continue to grow over the second half of the year, targeting turnover of roughly €2.6 billion in 2018 and an improvement in its net profit.
Next event:
Publication of turnover for the third quarter of 2018 on Wednesday 24 October 2018 after the stock market closes
The issuer of this announcement warrants that they are solely responsible for the content, accuracy and originality of the information contained therein.
Source: SYNERGIE via Globenewswire
