(Boursier.com) — Over the whole year, the consolidated annual turnover of Freelance.com amounts to 857.7 million euros, an increase of 7% compared to the 2022 financial year (+4% organic growth). International economic uncertainty and the slowdown in hiring dynamics have decelerated the use of freelancers by Freelance.com clients in 2023. By counting OpenWork’s activity volumes over 12 months, the 2023 proforma turnover springs at 902.6 ME.
The consolidated accounts for the 2023 financial year show an Ebitda of 29.4 ME (27 ME in 2022), up +9% over one year.
Operating profit increased by +5% to €26 million, impacted by significant ongoing IT investments which increased depreciation.
After taking into account certain non-recurring items, the group’s share of net income comes to 14.5 ME (18.1 ME in 2022). Charges linked to exceptional income, depreciation linked to the planned shutdown of TMC’s historic training activities and negative exchange rate differences have a negative impact of €3.7 million on net income.
Financial capabilities
At the end of 2023, the group benefits from a strengthened balance sheet structure with shareholders’ equity of 153.6 ME (137.9 ME a year earlier). Available cash is up +8% to €87.9 million, taking into account a change in cash flow excluding loan issues of +8.7 million over the year. Cash and similar liquid assets (VMP) amount to €129.4 million.
The Board of Directors has proposed the distribution of a dividend in the amount of 0.08 euros per share for this financial year. The dividend policy will be re-evaluated next year.
Outlook
In a still uncertain labor market context, the group remains cautious about its prospects in France and internationally and is aiming for slightly positive organic growth over the year. The integrations of OpenWork on September 1, 2023, and STA on January 11, however, increase the combined turnover of Freelance.com beyond one billion euros.
These two operations strengthen Freelance.com’s positioning in the external talent management market, and make it possible to re-establish a level of consolidated growth more in line with the Group’s expectations.
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