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France – Mare Nostrum Q2 revenue boosted by temporary work business

28 July 2021

Revenue at Mare Nostrum (ALMAR:PAR), a France-based staffing firm, grew by 92% in the second quarter, driven by the lifting of Covid-19 restrictions in France.

Revenue in the second quarter of the year stood at €40.5 million. The group’s temporary work business grew year-on-year by 105%.

(€ millions) 2021 2020 Change
Q1 34.4 31.5 9%
Q2 40.5 21.1 92%
H1 74.9 52.6 43%

During the first half, revenue in the temporary work business amounted to €65 million (46% over the previous year).

The training division posted revenue €4 million in H1 2021, up 20% compared to H1 2020. The group's training division benefited from the successful integration of AT Patrimoine, specialising in the training of caretakers and building employees, and its subsidiary EPI Concept, which supplies Personal Protective Equipment. 

Within Portage Salary and Recruitment activities, recruitment activity amounted to €0.8 million, up 16% on a comparable basis. Revenue in Portage Salary stood at €4.1 million, up 21% compared to the previous year.

The division dedicated to HR service platforms (payroll, personnel administration), reported revenue amounted to €1.1 million, up 117% compared to the same period last year (H1 2020)

Shares in Mare Nostrum last traded at €3.30, up 5.10% on the day and 12.23% below its 52-week high of €3.76, set on 18 February 2021. The company has a market cap of €23.79 million.