Fourth-quarter turnover increased by 7.3% at Synergie SE (SDG:PAR), the Paris-based staffing firm, to €803.2 million with growth in international markets more than offsetting a decline in France.

For the full year 2023, revenue rose by 6.6% with growth in both international and domestic markets.

International markets represented 58.4% of the group's 2023 turnover. International markets reported growth of +% over the year (+2.9% without acquisitions). This performance was accelerated in the last 2023 quarter with an increase of +15.1% (+8% without acquisitions) driven by Southern Europe, Belgium, Eastern Europe and Australia (excluding exchange rate effect).

Overall, group revenue totaled €3.10 billion.

FY Revenue

“Despite the economic slowdown observed by all staffing players since the start of 2023, Synergie remains confident in its ability to outperform the market through its commercial drive and diversification strategy,” the group stated. “With a robust financial structure, Synergie has the necessary resources to actively pursue its strong organic growth and strategic acquisitions.”

The group published its report yesterday after markets closed. Synergie shares last traded at €32.20, 8.65% below its 52-week high of €35.25 set on 2 January 2024 and up 0.31% on the day. The company has a market cap of €782.02 million.