Micropole Group: revenue growth and profitability down in the first half of 2023

Revenue growth at 4.7%, Current Operating Profit at 3.2%

Press release

Levallois-Perret September 25, 2023

. Micropole, an international consulting group specializing in the transformation of businesses through Data, announces that it achieved a turnover of 71.2 million euros in the first half of the 2023 financial year compared to 68.0 million euros in the same period the previous year, representing growth of 4.7%. At constant scope and exchange rate, activity increased by 3.6%.

In millions of euros – IFRS Standards Audited

H1 2023

H1 2022 (**)




current operating income



As a % of turnover



Non-operational expenses and income



Operating income



As a % of turnover



Net income from continuing activities



The company presents its 2023 half-year accounts approved by the board of directors on September 21, 2023

(**) The financial statements published as of June 30, 2022 (unaudited) have been restated following an in-depth analysis of the accounting treatment (agent/principal) to be applied with regard to IFRS 15 “Revenue from ordinary activities for contracts concluded with clients. This restatement of presentation between turnover and subcontracting purchases of 2.2 million euros has no impact on the net result as of June 30, 2022. It was not included in the annual accounts. 2022.

  • The increase in turnover was very different depending on the geographic areas and offers. In France, this experienced sustained growth of 9.3% over the half-year, all activities around Data continuing to experience significantly higher dynamics than the market. Demands around Digital are less sustained. Activity in Switzerland, as expected, experienced a decline of 2.2%, in line with the restructuring measures taken at the end of 2022. The indicators, however, continue to recover. Finally, turnover in the Benelux is stable, having been very strongly impacted by government salary indexation measures, and by strong pressure on recruitment. It should also be noted that the first half of 2023 has one less working day than in 2022.

  • Current operating profit reached 3.2%, at 2.2 million euros compared to 2.7 million euros for the previous year. This decline is mainly linked to the following developments:

  • An activity in Switzerland which, despite improvements, remains significantly lower than that of H1 2022

  • An indexation of wages in Belgium of 11% which could not be completely offset by the increase in TJM

    • A continuing tension on resources with recruitment difficulties, high turnover, and an increase in average salary of 4.6% compared to the first half of 2022, TJM for their part increased by 4%.

    • Non-comparable elements also degrade Current Operating Profitability by 1.3%:

The first half of 2023 has one day less than the first half of 2022, resulting in a deterioration of 0.6 million euros in Current Operating Income

A vacation bonus of 0.3 million euros introduced in France in 2023, following developments in the Syntec agreement.

For its part, operating profit reached 0.9 million euros compared to 1.7 million euros in the first half of 2022; non-operational items increased by 0.5 million euros, mainly linked to the continuation of restructuring operations in Switzerland (0.7 million euros). The net result from continuing activities was -0.2 million euros, compared to 0.9 million for the first half of the previous financial year.

Financial structure

As of June 30, the group has a solid financial structure with cash amounting to 16.2 million euros and net financial debt (excluding IFRS 16 rental debt) of 3.9 million euros, a decrease of 6 million euros compared to the end of December 2022.

The sharply increasing net operating cash flow amounts to 9.1 million euros compared to -8.6 million euros in the first half of 2022, which results from the good management of WCR as well as the collection of receivables tax.


Thanks to the strengthening of recruitment teams in 2022 and the numerous loyalty actions carried out (renovation or new premises, team management, salary increase, etc.) the tension on resources which persists (difficulty of recruitment, turnover) could be reduced. managed over the first half of 2023. It leads to a slight increase in the group’s workforce (+0.6% in FTE) and also to strong on-board growth of the teams positioned on the most dynamic Data activities in Paris and the regions.


The international geopolitical context and tensions on the markets (inflation, prices of energy and raw materials, exchange rates, interest rates) create a general climate of uncertainty.

Nevertheless, demand remains very strong overall, in particular for all offers around Data and Cloud which represent more than two thirds of turnover. The Group’s main difficulty remains, to this day, finding the resources to meet customer demands.

Despite this still uncertain period, Micropole therefore maintains its medium-term ambitions, particularly for profitability, and remains confident about the future development of the markets in which the Group is positioned.

Next financial meeting: 2023 financial results, on a date which will be specified in a subsequent press release relating to the 2024 financial calendar.

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| www.micropole.com

An international consulting group specializing in the transformation of businesses through Data, MICROPOLE supports its clients with a global approach: “Data Driven” strategy, Cloud Acceleration, Digital business. From 14 agencies, in Europe and China, the Group’s 1,200 #INNOVATIVE PEOPLE bring their expertise from consulting to implementation, to help their clients stay one step ahead and have a positive business impact through innovation Data.

MICROPOLE generates 40% of its turnover internationally and is listed on the Euronext Growth market.


Nicolas Rebours

Micropole – Investor relations

01 74 18 74 70 / [email protected]

Mame Sambou

Micropole – Communication Project Manager

01 74 18 76 07 / [email protected]

Leslie Boutin

Profile Agency!

01 56 26 72 00 / [email protected]

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