AUBAY: Organic growth over 9 months: +5.1% – 10/18/2023 at 6:00 p.m.

*Unaudited data

In an uncertain economic environment, Aubay delivered a business volume of €123.6 million in the third quarter, an organic increase of +2.5% despite an unfavorable calendar effect (-1 working day of invoicing). Consolidated turnover thus stands at €398.7 million over 9 months, an increase of +5.1%.

3rd quarter turnover

In France

stands at €64.2 million, a purely organic increase of +3.6%. The normalization of customer demand is confirmed, in line with the trend observed in the second quarter. The opportunities remain numerous but the wait-and-see attitude is more marked in the commitment of budgets among certain players in the banking and finance sector and the generally increased demands on the profile of consultants in all sectors combined.

Internationally

, consolidated turnover stood at €59.7 million, up +1.3%. The group experiences contrasting situations from one country to another. Italy is still in the process of stabilizing its activities despite a less favorable macroeconomic context. The Belgian-Luxembourg area is benefiting from good dynamics in the public sectors, but is facing a slowdown in the private sector. The Iberian region showed encouraging signs of improvement in September with an increase in customer demand and a good orientation on recruitment.

Sales prices continue to increase everywhere except in Italy, in line with salary increases, which makes it possible to preserve the margin level.

In this context, the group has further increased its level of selectivity with regard to its recruitment.

The group workforce amounts to

7,738

employees at the end of the quarter. Turnover drops slightly to 26%, but still allows you to benefit from great flexibility in managing the workforce in this normalization phase.

The activity rate thus shows encouraging signs of improvement over the month of September, returning significantly above 93%.

Business outlook for 2023

The market offers opportunities but the uncertain macroeconomic context weighs on the speed of project commitment.

Given the trends observed in recent weeks, Aubay is cautiously adjusting its turnover objective for the financial year to a range between €530 and €540 million. The operating margin of activity should be in a range between 8 and 9%.

Publication of 2023 annual turnover, Wednesday January 24, 2024 after market close.

Glossary

Internal/organic revenue growth

: this is the growth calculated on a constant perimeter basis for a given period, excluding the turnover of companies acquired or sold. Aubay carries out most of its activity in the euro zone and is therefore little or not subject to the impact of exchange rate effects.

Operating income from activity

: this indicator corresponds to the 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 the understanding of the related performance to day-to-day activities.

Operating margin of activity

: this indicator, expressed as a percentage, is obtained by relating the operating profit of activity to turnover.

Net debt or net cash

: this indicator is obtained by the difference between cash flow and financial debts. If the result is negative, we speak of net debt, and net cash otherwise.

About AUBAY

Aubay is a Digital Services Company. Aubay is present among the largest players in the Banking, Finance, Insurance, Industry, Energy, Transport and Telecoms sectors. The company has 7,738 employees spread across 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

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Contacts

Amaury Dugast – Finance News – Tel. : +33 (0)1 53 67 36 74 – [email protected]

David Fuks – Deputy Managing Director – Financial Department – Tel. : 01 46 10 67 67 – Email:

[email protected]

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