French talent platform Freelance.com reported revenue yesterday, after markets closed, of €210.9 million for the second quarter ended 30 June 2023, an increase of 5% when compared to the same period a year ago.

In the first half period, the group's revenue amounted to €419.4 million, up 10% compared to the 1st half of 2022. Q2 growth was a deceleration from the 15% achieved in Q1.

Revenue

In France, Freelance.com reported consolidated revenue of €280.5 million in the first half with organic growth of 18% compared to the first half of 2022, representing 67% of the group's consolidated total during the H1 2023 period. The group said the first half of 2023 remained ‘very dynamic’ in France.

Internationally, Freelance.com reported consolidated revenue of €138.9 million in the H1 2023 period, down 4% compared to the first half of 2022.

International activity saw a drop in demand from customers since the second half of 2022, Freelance.com stated, adding that it is now seeing favourable signs allowing it to anticipate a gradual recovery in growth on the horizon.

Freelance.com also announced that it is set to finalise the acquisition of the OpenWork group. This operation will be carried out entirely in cash and financed with equity.

OpenWork is a specialist in employee portage for independent workers, mainly present in France and Belgium. Portage companies such as OpenWork allow independent consultants to outsource all their administrative, social and accounting obligations. The completion of the operation is expected in September.

Already present on the wage portage market, the group will strengthen its offer, particularly targeting consultants looking for a strong digital experience.

Freelance.com said it continues to study external growth opportunities in France and Europe.

Freelance.com shares set a new 52-week low during today's trading session when it reached €4.65. Over this period, the share price is down -28.46%. The company last traded at €4.65, down 5.10% on the day. The company has a market cap of €277.02 million.