Groupe Crit H1 EBITDA up 1.8%
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French staffing firm Groupe Crit (CEN: PAR) published its first half 2024 financial year results yesterday after markets closed.
The H1 results include a further breakdown of profits. Groupe Crit published its Q2 results in July which showed total second-quarter revenue rose 23.7% to €807.9 million when including the acquisition of Openjobmetis. However, revenue was up just 0.6% on an organic basis.
Revenue for the first half of the year stood at €1.39 billion, up by 12.7% (€1.24 billion last year). This increase includes a 12.2% impact linked to the integration of the Italian company Openjobmetis (OJM), consolidated since 6 May 2024.
(€ millions) | H1 2024 | H1 2023 | Change |
Revenue | 1,392.4 | 1,235.9 | 12.7% |
EBITDA | 56.3 | 55.3 | 1.8% |
Current operating income | 34.7 | 37.8 | -8.2% |
Operating income | 32.8 | 37.8 | -13.2% |
Profit before tax | 40.2 | 43.4 | -7.4% |
Net profit | 26.4 | 29.9 | -11.7% |
Over the half-year, the group’s EBITDA remained stable at €56.3 million compared to €55.3 million in 2023 and the margin stood at 4.0%. The temporary work division posted an EBITDA of €36.6 million and a margin of 3.2%.
For the multiservice division, EBITDA stands at €19.7 million compared to €16.5 million in the first half of 2023, representing a margin of 7.4%.
Looking ahead, despite the caution imposed by the market context, the group remains confident in its development prospects with a target of €3 billion in revenue this year.
Groupe Crit shares last traded at €63.00, up 1.61% on the day and 5.35% above its 52-week low of €59.80, set on 5 August 2024. The company has a market cap of €697.50 million.