Revenue fell by 25.1% for the year ended 31 December 2020 at French staffing firm Groupe Mare Nostrum (ALMAR:PAR) to €123.2 million.

The group’s results were impacted by the coronavirus pandemic. Mare Nostrum noted a recovery in the second half of the year, with revenue increasing by 34.4%.

Over the year, the Temporary Work division, driven by the gradual resumption of activities in the second half, amounted to €107.6 million (-29% vs. 2019) and represented 87% of Group revenue vs. 92% the year before.

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. The division's turnover stood at €6.4 million for the year 2020 and now represents 5.2% of consolidated sales compared to 1% last year.

The Portage Salary and Recruitment activities were both impacted by the pandemic, and revenue amounted to €6.7 million (5.4% of group turnover) and € 1.5 million (1% of Group turnover), respectively, for the year 2020.

In addition to the confirmed diversification of its business portfolio, the group has also strengthened its positions in strategic segments such as healthcare, with the acquisition of Inalvea Développement in October 2020, which is dedicated to the back-office management of medico-social temp agencies.

Likewise, strong demand for e-commerce has enabled the group to strengthen its presence in the Industry and Logistics sector (21% of turnover against 20% last year) as well as in Commerce & Services (9% of turnover compared to 6% in 2019).

Mare Nostrum last traded at €3.10, up 1.31% on the day and 34.78% above the 52 week low of €2.30 set on 2 November 2020. The company has a market cap of €23.18 million.