Groupe CRIT : 2020 revenue - A gradual improvement in activity over the quarters

Press release

January, 27th 2021

2020 revenue

A gradual improvement in activity over the quarters

	Groupe CRIT, in €M (1)	2019		2020			Change			Constant perimeter
						and exchange rate
	Q1	582.4		505.8		-13.2%		-13.6%
	Q2	650.0		308.3		-52.6%		-52.7%
	Q3	649.5		456.0		-29.8%	-29.2%
	Q4	606.5		482.0		-20.5%	-19.8%
	Total	2,488.5		1,752.0			-29.6%			-29.4%
	of which international	591.9		447.7			-24.4%			-23.5%

With a turnover of €1,752.0 million over the year, the Group posted a decrease in 2020 sales of -29.6%. Despite the enduring pandemia, the activity gradually recovered with a fourth quarter down -19.8% versus -29.2% in the third quarter (at constant exchange rates).

In France, the group posted a turnover of €1,304.3 million, gradually improving after the end of the first containment and despite airport activities strongly penalized by traffic that remained very low. Thus, activity in France posted growth rates of -55.7%,-30.1% and -21.4% respectively in the second, third and fourth quarters. International activities held up with a turnover of €447.7 million, down 24.4% over the year (-23.5% at constant exchange rates) with -17.7% in the fourth quarter.

Temporary work (87.1% of the activity for the year)

In the fourth quarter, the division's turnover came to € 428.7 million, down 13.3% vs 2019. This change should be compared with the 23.4% drop recorded in third quarter, confirming the gradual improvement in activity. Cumulatively over the year 2020, sales amounted to € 1,526.8 million (2).

In France, fourth quarter revenue amounted to € 316.2 million, down 14.2% compared to the 24.2% drop recorded in the third quarter. After the lock down impact, and despite local curfews, the situation is improving driven by the transport logistics and agri-food sectors. On the other hand, demand in aeronautics, hospitality, catering and events organization sectors remain extremely penalized by health restriction measures.

Over the year, turnover reached € 1,121.6 million, down 27.0%.

International fourth quarter revenue amounted to €112.4 million, down 11.0% compared to the same period of the previous year (-7.6% at constant exchange rates). Over the quarter, activity in the United States improved with revenue down -14.1% at constant exchange rates. Spain experienced remarkable activity with a growth of 13.0% over the quarter, driven by agricultural and agri-food activities.

Over the year, international turnover came to €405.2 million, down -18.5%(-17.6% at constant exchange rates).

Multiservice division (12.9% of activity for the year)

Multiservices division achieved sales for the year of €239.6 million (2), down 50.1% compared to the same period in 2019.

Airport activities were impacted by the crisis and fourth-quarter sales amounted to € 37.7 million, down 59.2%. At the end of 2020, the business unit made the necessary adjustments to its cost basis in order to adapt to the decline in activity while taking into account the support measures in order to preserve employment.

Staffing & recruitment

Multi-services

Inter-segment

TOTAL GROUP

In 2020, CRIT Group remained mobilized to ensure the continuity of its activities with its customers and all of its stakeholders. It has taken all the necessary measures to adapt to this exceptional context and to get through this pandemic with the aim of protecting its employees and its network.

Detailed analysis of foreign exchange and perimeter impacts

Revenue

in million of euros

2019 2020

2,034.4 1,526.8

480.3 239.6

(26.2) (14.3)

2,488.5 1,752.0

	Change			Organic		Currency		Perimeter
	2020/2019			growth		impact (3)		impact (4)
			(24.7)%
	(25.0)%				(0.2%)		0.0%
	(50.1)%			(50.1)%		0.0%		0.0%
	(45.3)%			(45.3)%		0.0%		0.0%
	(29.6)%			(29.4)%		(0.2%)		0.0%

1. Unaudited data
2. Excluding inter-segment eliminations
3. The exchange rate impact is calculated by applying the previous year's exchange rates to current-year revenue denominated in foreign currencies.
4. Changes in consolidation scope are calculated by restating revenues for:
5. • the contribution of entities acquired during the current year and the contribution of entities acquired the previous year until the anniversary date of their acquisition,
   • for entities sold during the current year, the contribution to revenues during the months of the previous year for which the entities are no longer consolidated in the current year and, for entities sold the previous year, the contribution to revenues of the previous year until the date of their sale.

Next release

2020 annual results : 23 march 2021 after closing of the stock exchange

Groupe CRIT is a french leading company in staffing and airport assistance, in the global top 20. The Group is listed on Euronext Paris (Compartment B FR0000036675) and is included in the CAC All-tradable, CAC Allshares, CAC Mid&Small, Euronext Family Business and Gaïa indices.

Contacts

Groupe Crit	Actifin
[e-mail]	Stéphane Ruiz [e-mail]
Tél : [phone]	Press relations : [e-mail]
www.groupe-crit.com	Tél : [phone] www.actifin.fr