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France – Synergie reports record annual revenue in 2014

29 January 2015

French recruitment firm Synergie (SDG: PAR) reported revenue for the fourth quarter ending 31 December 2014 of €430.7 million, an increase of 5.1% compared with €409.9 million during the same period last year. 

(€m) Q4 2014 Q4 2013 Change FY 2014 FY 2013 Change
International 206.7 185.0 +11.7% 772.8 669.0 +15.5%
France 224.0 224.9 -0.4% 896.4 850.7 +5.4%
Total Revenue 430.7 409.9 +5.1% 1,669.2 1,519.7 +9.8%

Daniel Augereau, Chairman and CEO of Synergie, commented: “During the fourth quarter, the Group once again outperformed [the] market in all of the countries where it is currently established. As such, with the international side now contributing 48% to the consolidated business, Synergie maintained double-digit growth throughout the past year.”

“With €772.8 million, the international side posted significant advances in Europe, where the Group has become a major player, notably in Spain where, after having successfully integrated the SOLEMPLEO network (revenue of €13.7 million over the full year), the growth was equal to 46.8% (32.1% on a like-for-like basis).”

Revenue from Synergie’s Spanish operations for the year surpassed expectations by reaching €118.3 million, against a previously forecast €100 million.

Strong year-on-year growth was also reported in Portugal (40.4%), Great Britain (13.6% in constant currency), Belgium (10.6%), and Italy (8.3%).

Looking forward, Synergie has targeted global revenue of €2 billion by the end of 2016.  

In trading today, the company’s share price rose by 2% to €19.18, an increase of 22.9% compared with last year. Based on its current share price, the company has a market value of €466.3 million.