Growth in SYNERGIE’S turnover and net profit in the first half

FIRST-HALF TURNOVER OF €1,238.8 MILLION

With a 710-strong branch network and extensive international operations spanning 16 countries in Europe as well as Canada and Australia, the Group generated consolidated turnover of €1,238.8 million, up 12.7 % in relation to 2017 (9.1 % on a like-for-like basis).
Growth in the international operations continued at a very fast pace, reaching €649.8 million (+19.9 % over the period); 52.5 % of consolidated turnover is now generated outside of France.
Activity in France showed further growth, with the selection of clients that generate good profitability.

IMPROVEMENT IN NET PROFIT

SYNERGIE posted consolidated current operating profit of €57.7 million.
The positive impact of growth in activity was offset by the impact of various legislative or regulatory measures, particularly in France where there was a reduction in the CICE competitiveness and employment tax credit rate from 7 % to 6 %, but also in other countries (Belgium, Germany, Netherlands, etc.).
Structural costs and investments related to the creation of specialised branches and the recruitment of consultants, as well as digital transformation, the development of IT tools and targeted training programmes, were strictly managed.
Impairment of goodwill and other intangible assets in the amount of €1.9 million was recognised in the United Kingdom related to the consequences of Brexit.
Taking into account the above items and a €16 million tax expense, net profit came to €36.6 million, representing an increase in relation to 2017 (€35.8 million).

A SOLID FINANCIAL STRUCTURE

The financial structure thus strengthened, with shareholders’ equity of €450.9 million at 30 June 2018 and net cash (including available CICE tax credits) of €83.5 million, giving the Group the resources needed to pursue growth and make new acquisitions, in particular abroad.

STRATEGIC ACQUISITION

On 7 June 2018, SYNERGIE announced it had acquired a majority stake in the French digital services firm DCS EASYWARE.
This acquisition gives SYNERGIE a positioning on a growth market and rounds off our traditional activities, in line with our main counterparts, with diversification in facilities management, advisory and technical assistance.

A FAVOURABLE OUTLOOK

SYNERGIE Group intends to build on these performances to continue to grow over the second half of the year, targeting turnover of roughly €2.6 billion in 2018 and an improvement in its net profit.