| Press release |
| 5 April 2017 |
STRONG GROWTH FOR SYNERGIE IN 2016
Turnover: €1,991.8 million Operating profit: €100.2 million Net profit: €65.0 million
The Board of Directors of SYNERGIE, chaired by Daniel AUGEREAU, met on 5 April 2017 and approved the financial statements for the year ended 31 December 2016. The auditing procedures for these financial statements are complete and the corresponding report is being issued .
| Consolidated - in € million | 2016 | 2015 |
| Turnover | 1,991.8 | 1,798.9 |
| Current operating profit (*) | 100.2 | 92.7 |
| Operating profit | 96.0 | 89.0 |
| Profit before tax | 93.2 | 89.4 |
| Tax on profit | (28.2) | (29.4) |
| Net profit | 65.0 | 60.1 |
| Net profit, Group share | 64.1 | 59.5 |
(*) Before amortisation and write-downs of intangible assets
Record turnover of €1,991.8 million
The SYNERGIE Group, Europe's fifth largest human resources management company, posted turnover of €1,991.8 million in 2016, up 10.7% from 2015 (+10.3% on a like-for-like basis).
Its international business grew briskly by 9.6% to €958.3 million, or 48% of consolidated turnover, notably in areas where SYNERGIE has extensive operations such as the Benelux countries (+15.2%) and southern Europe (+15.2%).
France saw double digit growth throughout the year, with turnover topping €1 billion for the first time thanks to an 11.8% increase that significantly outpaced the market's 6.8% (Prism'emploi data).
Sharp rise in net profit: +8.3%
Total current operating profit came in at €100.2 million, up €7.5 million and once again reaching 5% of turnover.
International current operating profit rose 26.8% to €35.5 million, compared with €28.0 million in 2015, benefiting in particular from the expansion seen in Benelux and southern Europe.
The successful integration of the German subsidiary CAVALLO is of particular note. Consolidated as from mid-February 2016, the company saw both turnover and profitability increase compared with the previous financial year.
In a highly competitive environment, current operating profit in France was at the same level as in 2015 despite a €4 million payroll expense for temporary employees' statutory mutual insurance, which was introduced on 1 January 2016.
The impact of Brexit on the euro/sterling exchange rate at 31 December 2016 led to the recognition of a €2.3 million exchange loss, compared with a €1.2 million exchange gain at 31 December 2015.
Taking into account the above items and a €28.2 million tax expense, net profit for the year came to €65 million.
An excellent financial structure
With more than €370 million of shareholders' equity and a positive €111.8 million cash position net of all debt and including available CICE competitiveness and employment tax credits, SYNERGIE has all the resources it needs to pursue its growth in France and abroad.
Outlook for 2017
SYNERGIE continued to perform strongly in all of its markets in the first few months of the year, with robust growth to end-February both abroad and in France reflected in a 17.4% increase in consolidated turnover.
In this context, the Group is pursuing its strategy of rolling out into dynamic regions and business sectors, particularly outside France, and is also actively seeking takeover targets, mainly to strengthen its positions in countries where it already has operations. SYNERGIE aims to achieve turnover of €2.2 billion in the current financial year.
Dividends: €0.60 per share
A dividend of €0.60 will be proposed at the Shareholders' Meeting of 14 June 2017, with a payment date of 23 June 2017.
Upcoming events :
- Publication of turnover for the first quarter of 2017 on Wednesday 26 April 2017 after the stock market closes - Combined Ordinary and Extraordinary Shareholders' Meeting on Wednesday 14 June 2017
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