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Synergie revenue edges up 2% with boost from international division

Synergie revenue edges up 2% with boost from international division

Danny Romero
| January 30, 2025
Synergie sign on side of building
Photo credit: ID 177243281 © Sylvain Robin | Dreamstime.com

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Synergie SE (SDG:PAR), the Paris-based staffing firm, reported fourth-quarter turnover increased by 2.0% when compared to the same period a year ago.

Turnover totalled €819 million in the fourth quarter of 2024, up from €803 million the year prior.

In France, turnover fell slightly by 0.9% to €317 million while turnover in the international division totalled €502 million, an increase of 3.9%.

(€ million)

Q4 2024

Q4 2023

Change

FY 2024

FY 2023

Change

International

502

483

3.9%

1,919

1,816

5.7%

France

317

320

-0.9%

1,265

1,293

-2.1%

Total

819

803

2.0%

3,184

3,109

2.4%

Full-year data showed that despite a challenging market, Synergie continued to grow over the year, setting a new sales record at €3.18 billion, up 2.4% on the 2023 financial year and 0.9% on a like-for-like basis.

Synergie credited its full-year performance to contributions from all regions.

International sales (up 5.7%), which account for 60.3% of the group’s business, were driven by an organic growth of 3.0% and the input of acquisitions which generated €44 million over the year.

Growth in Northern and Eastern Europe (+3.8%) remained positive despite the economic slowdown in these countries due to an outstanding performance of the group’s Belgian subsidiary in a declining market. Southern Europe continued to grow (5.7%) with standout performances in the Italian and Spanish operations.

Synergie’s turnover in France fell 2.1% to €1.26 billion (39.7% of total revenue), amid a declining national market driven by political uncertainty and economic struggles.

“With a strong financial structure, Synergie has the necessary resources to pursue actively its growth in an economic environment which, while more complex, is also a source of opportunities,” the company said in a press release.

Synergie ranks as the 7th largest staffing firm in Europe based on 2023 annual revenue according to SIA’s Largest Staffing Firms in Europe report.

Synergie shares last traded at €27.30, up 1.11% on the day and 1.87% above its 52-week low of €26.80, set on 5 December 2024. The company has a market cap of €657.77 million.