In €m |
Q4 2021 |
Q4 2022* |
Var. |
2021 |
2022* |
Var. |
France | 62.9 |
70.1 | +11.4% | 237.1 |
263.4 | +11.1% |
International | 63.0 |
64.0 | +1.6% | 233.5 |
250.1 | +7.1% |
Total |
125.9 |
134.1 |
+6.5% |
470.6 |
513.5 |
+9.1% |
* Data being audited
Aubay exceeds the symbolic threshold of €500 million for the first time and publishes record sales of €513.5 million for the year 2022, representing purely organic growth of +9.1%. This performance is at the top of the target range (as a reminder, between €504 and €513 million). The 4
th
quarter was dynamic with organic growth of +6.5% which includes an unfavorable calendar effect (-1 day).
Annual revenue in France came to €263.4 million, up +11.4% with steady growth throughout the year. This remarkable performance is based on very good sales momentum with demand from key accounts still well oriented and on the group’s ability to attract talent.
Internationally, revenue amounted to €250.1 million, a solid increase of +7.1% and also in line with expectations. The slowdown at 4
th
quarter stems from a high comparison basis (+14.3% in Q4 2021) amplified by a calendar effect (-2 days in Italy, -1 day in Belux and the Iberian zone over the quarter). All regions contributed to growth, although the momentum was temporarily less strong in Italy at the end of the year given the transition between the end of major projects and the start of new business.
Operating margin on business activity confirmed
Benefiting from an excellent activity rate of 95.0% vs. 94.1% in 2021, the operating margin on activity will be as expected within the tight range between 10% and 10.5%. This performance testifies to the good control of the wage inflation/selling price couple and continues to place the group among the best performers in the sector.
Strong increase in staff
Net recruitment accelerated during the 4th quarter (+194 net recruitments) bringing the workforce to 7,819 employees, an increase of +7.0% over one year. Aubay confirms its attractiveness in a competitive human resources market and thus starts the year 2023 with solid on-board growth.
Outlook 2023
Customer demand is still very well oriented at the start of the year in all geographic areas. In this context, Aubay is aiming for another good performance in 2023, i.e. at first glance:
-
Organic growth of between +5% and +7%, i.e. annual revenue of between €540m and €550m despite a very unfavorable day effect: 2 fewer days in 2023 compared to 2022.
-
An operating margin on activity of between 9.5% and 10.5%.
Next meeting: Publication of the results for the 2022 financial year, on March 22, 2023 after market close.
Financial diary 2023
Financial Agenda 2023/2024 |
Date |
Q1 2023 revenue | Thursday 04/20/2023 |
Q2 2023 revenue | Thursday 07/20/2023 |
H1 2023 results | Wednesday 09/13/2023 |
Financial analysts meeting | Thursday 09/14/2023 |
Q3 2023 revenue | Wednesday 10/18/2023 |
Q4 2023 revenue | Wednesday 01/24/2024 |
2023 annual results | Wednesday 03/20/2024 |
Glossary
Internal/organic revenue growth
: this is growth calculated on a like-for-like basis for a given period, excluding the turnover of companies acquired or sold. Aubay conducts most of its business in the euro zone and is in fact not or only slightly subject to the impact of exchange rate effects.
Operating result from activity
: this indicator corresponds to operating income before taking into account the cost of free shares and other income and expenses which correspond to unusual, significant, infrequent operating income and expenses, presented separately to facilitate understanding of the related performance to routine activities.
Operating margin on activity
: this indicator, expressed as a percentage, is obtained by dividing operating profit from activity by turnover.
Net debt or net cash
: this indicator is obtained by the difference between cash and financial debts. If the result is negative, it is called net debt, and net cash otherwise.
About AUBAY
Aubay is a Digital Services Company. Aubay is present with the biggest players in the Banking, Finance, Insurance, Industry, Energy, Transport and Telecom sectors. The company has 7,819 employees in 7 countries (France, Belgium, Luxembourg, Italy, Spain, Portugal and the United Kingdom). In 2022, Aubay achieved a turnover of €513.5 million.
Euronext, Compartment: B – ISIN FR0000063737-AUB – Reuters: AUBT.PA – Bloomberg: AUB:FP
contacts
Amaury Dugast – Finance News – Tel. : +33 (0)1 53 67 36 74 – [email protected]
David Fuks – Deputy Managing Director – Finance Department – Tel. : 01 46 10 67 67 – Email:
[email protected]
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Regulated information:
Inside information:
– Information on annual turnover
Full and original press release in PDF format:
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