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France – Synergie Q1 revenue up 2.5% on like-for-like basis

25 April 2019

French staffing firm Synergie (SDG: PAR) reported revenue yesterday for the first quarter ending 31 March 2019 of €621.2 million, an increase of 5.4% when compared to the same period in the previous year and 2.5% on a like-for-like basis.

Revenue in French operations increased by 7.1% and 3.1% on a like-for-like basis. Growth was underpinned by a robust performance in temporary employment (3.2% in a market that showed growth of +1% at the end-February according to the national staffing association, Prism’Emploi) and strong growth at DCS Easyware, the French digital services company consolidated in June 2018, which generated revenue of €11 million (up 11.8%) over the quarter.

International revenue was up 3.9% (2.0% on a like-for-like basis). International operations were supported by growth in Spain and Italy in the first quarter.

(€ millions) Q1 2019 Q1 2018 Change Like-for-Like
International 323.9 311.9 3.9% 2.0%
France 297.3 277.7 7.1% 3.1%
Total 621.2 589.6 5.4% 2.5%

Synergie added that it is actively examining potential new acquisitions in Europe and around the world.

In trading yesterday, Synergie shares traded at €33.00, down 1.79% on the day. Based on its current share price the company has a market value of €803.94 million.