Crit : Fourth quarter 2024 revenue: € 855.8 million (+32.3%)

Press release                                                                                                                  January 29^th, 2025

Fourth quarter 2024 revenue: € 855.8 million (+32.3%) 

Target of € 3 billion in annual revenue exceeded  Strong growth in international Temporary work  Airport activity maintained at high levels

Paris (France) January 29, 2025, 5:45 p.m. - Groupe CRIT (FR0000036675 – CEN), a major player in temporary work and airport services in France and internationally, announces its revenue for the 4^th quarter of the 2024 financial year (October 1^st – December 31^st).

The Group's consolidated revenue for the fourth quarter of 2024 amounted to € 855.8 million ⁽¹⁾, up 32.3% on a consolidated basis compared to the same period of the previous year (€ 647.0 million). This increase includes a 32.2% scope impact related to the acquisition of OPENJOBMETIS, company under Italian law consolidated since May 2024. At constant scope and exchange rates, the Group's organic growth was -0.4% for the same quarter and +0.9% for the full year. These highly satisfactory levels of activity once again demonstrate the Group's agility in the face of still contrasting market conditions. 

In France, revenue for the quarter reached € 474.9 million, up 1.3% compared to the same quarter of the 2023 financial year. 

Internationally, the business is fully benefiting from the integration of OPENJOBMETIS. It has more than doubled in the last quarter of 2024 compared to the same period in 2023 and now represents nearly 45% of the Group's total revenue. 

Full year sales target of € 3 billion in revenue was exceeded with a volume of activities of € 3 123.8 million, up 23.2% (+0.9% on an organic basis) compared to the 2023 financial year.

Temporary work: +39.5%  Excellent resilience of the business in France and integration of Italian activities abroad

In Temporary Work (84.7% of total activity), fourth-quarter revenue was € 725.0 million ⁽²⁾, up 39.5% compared to the same quarter of 2023, including the scope impact of the acquisition of OPENJOBMETIS. At constant scope and exchange rates, revenue was almost stable (-1.0% on an organic basis) in a market context marked by weak economic growth.

France : +1.5%

In France (51.6% of the division's activity), revenue for the quarter reached € 374.4 million, up 1.5% compared to the same 2023 quarter. This totally organic growth was mainly supported by industry (particularly agri-food and aeronautics) and logistics, while hotels and restaurants, trade and construction remained sluggish.

International : x2.3

Outside France (48.4% of the division's activity), revenue for the quarter was € 350.6 million, more than double (x2,3) the activity achieved in the fourth quarter of 2023 thanks to the OPENJOBMETIS’ acquisition. At constant scope and exchange rates, international activity posted a -7.2% decline with contrasting trends depending on the geographical areas considered. 

In Italy, OPENJOBMETIS' proforma revenue in the fourth quarter was up 10.8% compared to the same quarter of 2023. This increase itself includes a 16.0% scope impact related to the acquisition of the Just on Business subsidiary since January 1st, 2024. In the United States, in an environment that is still volatile and uncertain during election periods, the professional staffing division experienced a very positive development while the traditional staffing division remained in decline. Overall, revenue was € 54.4million, down 15.7% on an organic basis ⁽²⁾. In Spain, activity remained on a positive trajectory with € 34.9 million in revenue in the last quarter of the period, up organically by 2.6%.

Multi-services : +2.6% Activity maintained at high levels

The Multi-services Division (16.2% of activity for the period) generated quarterly revenue of € 138.5 million ⁽²⁾. 

Airport activities (76.8% of the division's total revenue) generated revenue of € 106.4 million, up 4.7% over the past quarter compared to the sales volumes achieved in the fourth 2023 quarter. Characterized by 14 consecutive quarters of double-digit organic growth, the business remains at high levels. It is driven by excellent performance in International business, particularly in the United Kingdom and Ireland.

In a market environment that continued to tighten on temporary work both in France and abroad, the solid performance of the Group's activities during this quarter illustrates the quality of its service offering and the strength of its network in France and abroad, fully committed to achieving the Group's performance objectives.

Detailed annex of exchange rate and scope impacts

                  en M€                                                      Revenue                                   Variation         Organic          Forex           Perimeter

                                                                                                                                    2024/2023        change       impact ⁽³⁾         impact⁽⁴⁾

                                                                   2024                       2023  

⁽¹⁾  Unaudited figures

⁽²⁾  Excluding inter-segment eliminations

⁽³⁾  The exchange rate impact is computed by applying the previous year’s exchange rates to current-year revenue denominated in foreign currencies.

⁽⁴⁾  Changes in consolidation scope computed by restating revenue for:

•       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.

•       entities sold during the current year, the contribution to revenue 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 revenue of the previous year until the date of their sale. 

Next release : 

2024 Annual Results : March 25^th 20245 after market closing

Groupe CRIT is a French leading company in staffing and airport assistance, in France and Internationally. The Group is listed on Euronext Paris (Compartment B FR0000036675) and is included in the CAC Allshares and Euronext Family Business.

isabelle.dray@seitosei-actifin.com