COMMUNIQUÉ DE PRESSE

par Majorel Group Luxembourg S.A. (isin : LU2382956378)

EQS-Adhoc: Majorel Group Luxembourg S.A. : Majorel delivers solid results for H1 2023

EQS-Ad-hoc: Majorel Group Luxembourg S.A. / Key word(s): Half Year Results/Half Year Results
Majorel Group Luxembourg S.A. : Majorel delivers solid results for H1 2023

24-Aug-2023 / 08:00 CET/CEST
Disclosure of an inside information acc. to Article 17 MAR of the Regulation (EU) No 596/2014, transmitted by EQS News - a service of EQS Group AG.
The issuer is solely responsible for the content of this announcement.


THIS ANNOUNCEMENT RELATES TO THE DISCLOSURE OF INFORMATION THAT QUALIFIED OR MAY HAVE QUALIFIED AS INSIDE INFORMATION WITHIN THE MEANING OF ARTICLE 7(1) OF THE MARKET ABUSE REGULATION (EU) 596/2014.

Press release

Majorel delivers solid results for H1 2023

H1 2023: Group revenue +8% YOY | Net revenue +8% YOY | Operating EBITDA € 177 million

Luxembourg, August 24, 2023: Majorel Group Luxembourg S.A. (Euronext Amsterdam ticker symbol: MAJ) (“Majorel” or the ‘’Company”), a global customer experience (CX) leader, today reports on its reviewed results for H1 2023[1].

FINANCIAL HIGHLIGHTS 

  • Solid topline growth, with group revenue of €1,068 million, +8% YOY (H1 2022: €992 million) and net revenue[2] of €1,058 million (H1 2022: €976 million), +8% YOY.
  • Like-for-like[3] net revenue growth of +10% YOY. The reduction in COVID-19 related business (€37 million) was partially offset by the contribution from last year’s acquisitions (€19 million)[4].
  • Adjusted for the impact of FX, group revenue growth in H1 2023 was +9% YOY[5], with an FX impact on group revenue of -1% (H1 2022: +2%).
  • Net revenue growth across business Segments: EASA (Europe, Africa, and South America) at +9%, GEMS (Global English, Middle East, and Southeast Asia) at +6% and CEA (China and East Asia) at +16%.
  • Robust profitability and in line with prior guidance, Operating EBITDA[6] in H1 2023 of €177 million (16.7%), compared to €175 million (17.9%) in H1 2022
  • Group profit amounted to €80 million in H1 2023, compared to €102 million in H1 2022. Earnings per share (EPS)[7] was €0.80.
  • Full year 2023 Outlook: Net revenue guidance for 2023 maintained (+6% to +11% excluding COVID-19 related business in 2022). Given the prevailing challenging conditions, we don’t expect to be in the upper half of this range, while high volatility (including FX) remains. Operating EBITDA margin guidance for 2023 unchanged, and expected to be between 16.5%-17.0%.

BUSINESS HIGHLIGHTS

  • Growth with existing and new clients: net revenue retention of 111% (H1 2022: 114%)[8], 30+ new logo wins.
  • Development of strategic KPIs: 52% of net revenue from Global Internet Clients (FY 2022: 52%), including 24% of net revenue from Majorel's Content Services, Trust & Safety line of business (FY 2022: 23%); Tech & Expert Services at 9% of net revenue (FY 2022: 9%). Offshore at 43% of net revenue (FY 2022: 43%); and the Telco sector at 8% of net revenue (FY 2022: 9%).
  • Net revenue growth in all business Segments: EASA €764 million, +9% YOY (H1 2022: €702 million); GEMS €233 million, +6% YOY (H1 2022: €221 million); and CEA €61 million, +16% YOY (H1 2022: €52 million).
  • On August 11, 2023, Majorel published its position statement regarding the voluntary public cash and exchange offer (the ‘Offer’) for all shares in Majorel by Teleperformance SE. In the position statement, the management board and supervisory board of Majorel concluded to support the Offer and recommend to the shareholders to accept the Offer and to tender their shares pursuant to the Offer.  

Thomas Mackenbrock, CEO of Majorel Group, said: “I am pleased to report that we have delivered a good performance with solid topline growth in H1 2023. Despite a continuing challenging and uncertain macroeconomic environment, all of Majorel’s business Segments have contributed to this result. I'd like to thank our clients for placing their trust in us, and our team members worldwide for their passion and commitment to Majorel.”

FINANCIAL OVERVIEW, BUSINESS OVERVIEW, AND OUTLOOK

GROWTH ACROSS BUSINESS SEGMENTS

Revenue for the Group in H1 2023 was €1,068 million, representing an increase of +8% YOY (H1 2022: €992 million). Net revenue in H1 2023 was €1,058 million, which represents an increase of +8% compared to H1 2022 (€976 million). There was no COVID-19 related business contribution in H1 2023, compared to €37 million in H1 2022. Therefore, adjusted for M&A and COVID-19 related business, like-for-like net revenue growth was +10%.

EASA Segment: Europe, Africa, and South America
Net revenue from the EASA Segment was €764 million in H1 2023 (H1 2022: €702 million). The increase of +9% compared to H1 2022 included the contribution of the acquisitions completed in 2022 (accounting for €19 million of net revenue), partially compensating for the natural ending of COVID-19-related business at the end of 2022 (€37 million net revenue contribution in H1 2022).

Like-for-like net revenue3 in EASA increased by +11% in H1 2023. This growth was mainly driven by existing and new clients in Global Internet, Energy & Utilities and BFSI verticals, and the solid development of our locations in France, Germany, Africa, Eastern Europe, and South America.

GEMS Segment: Global English, Middle East, and Southeast Asia
Net revenue from the GEMS Segment was €233 million in H1 2023 (H1 2022: €221 million), an increase of +6%. This growth was driven by the Company’s expansion with its Global Internet vertical, particularly in the US, Philippines, Malaysia, and Kenya.

CEA Segment: China and East Asia
The CEA Segment reported net revenue of €61 million in H1 2023 (H1 2022: €52 million). The growth rate of +16% was driven by Japan and South Korea (entered in 2022) and digital clients in China.

Revenue, net revenue, and net revenue by business Segment

 H1 2023H1 2022YOY change
Revenue€1,068m€992m+8%
Net revenue€1,058m€976m+8%
EASA Segment€764m€702m+9%
GEMS Segment€233m€221m+6%
CEA Segment€61m€52m+16%

Adjusted for the impact of FX, group revenue growth in H1 2023 was +9%5, with an FX impact on group revenue of -1% (H1 2022: +2%).

DELIVERING ROBUST PROFITABILITY AND STRONG CASH FLOW

For H1 2023, Operating EBITDA was €177 million (H1 2022: €175 million). The Operating EBITDA margin was 16.7% (H1 2022: 17.9%) and in line with prior guidance.

EBIT amounted to €118 million for H1 2023 (H1 2022: €138 million) and group profit amounted to €80 million (H1 2023: €102 million). Earnings per share (EPS) were €0.80 (H1 2022: €1.01).

The Annual General Meeting (AGM) on June 22, 2023, approved the distribution of a dividend of EUR 0.68 (sixty-eight euro cents) per share.

Free cash flow[9] was €92 million (H1 2022: €36 million). The net cash position at the end of H1 2023 the year was €154 million (FY 2022: €105 million).

Operating EBITDA and Operating EBITDA by Segment

in € million H1 2023 H1 2022 EASA 117 122 in% of net revenue 15.3% 17.4% GEMS 52 49 in% of net revenue 22.2% 22.2% CEA 8 4 in% of net revenue 14.0% 7.6% Other/minor activities - - Total 177 175 in% of net revenue 16.7% 17.9%

For all three Segments, our ongoing focus on operational excellence, more complex, value-added services, client portfolio management, and offshore delivery, helped to mitigate the effects of the challenges of the macroeconomic environment, subsequent cost focus from clients, (wage) inflation, and increased costs due to return to site.

EASA Segment
Operating EBITDA for EASA was €117 million at the end of H1 2023 (H1 2022: €122 million). The Operating EBITDA margin decreased from 17.4% in H1 2022 to 15.3% in H1 2023. In addition to the mentioned challenges, this decrease was also due to the natural ending of the COVID-19-related business, which is fully attributed to EASA.

GEMS Segment
Operating EBITDA for GEMS was €52 million for H1 2023, increasing by +6% year over year (H1 2022: €49 million). The Operating EBITDA margin remained stable at 22.2% in H1 2023 (H1 2022: 22.2%).

CEA Segment
Operating EBITDA for CEA was €8 million for H1 2023 (H1 2022: €4 million) and the Operating EBITDA margin increased from 7.6% to 14.0%. In H1 2022 the CEA Segment experienced challenges due to COVID-19 restrictions and the lockdown in China, which affected the margins.

BUSINESS HIGHLIGHTS

Growth with clients
Majorel delivered net revenue retention (NRR) of 111% in H1 2023 (H1 2022: 114%)8, demonstrating the strength and depth of the trusted long-term partnerships we have developed with our clients. In H1 2023, Majorel won 30+ new logos to its global portfolio of more than 500 clients.

Update on strategic KPIs
In H1 2023, 52% of net revenue was from Global Internet Clients (FY 2022: 52%), in line with our mid-term target of >50% and including 24% of net revenue from Majorel’s Content Services, Trust & Safety line of business (FY 2022: 23%). Tech & Expert services represented 9% of net revenue (FY 2022: 9%). Offshore represented 43% of net revenue (FY 2022: 43%). In line with our previous guidance, net revenue from the Telco sector is 8% of group net revenues (FY 2022: 9%).

Subsequent events
On August 11, 2023, Majorel published its position statement regarding the voluntary public cash and exchange offer (the ‘Offer’) for all shares in Majorel by Teleperformance SE. In the position statement, the management board and supervisory board of Majorel concluded to support the Offer and to recommend to the shareholders to accept the Offer and to tender their shares pursuant to the Offer. The position statement is available on the Majorel’s website at https://www.majorel.com/voluntary-public-takeover-offer/.

On August 17, 2023, Majorel launched Majorel Infinity (www.majorelinfinity.com), as a platform for digital consumer engagement services, to serve the needs of clients in Asia-Pacific and to support our further development in the region. With more than 600 specialists, its core services include consumer data & insights, technology, and digital marketing strategy & services. It is a part of Majorel’s Tech & Expert Services.

OUTLOOK

This outlook is based on Majorel’s current assessment on the development of the business in 2023 and the general CX market, combined with economic and labor market conditions in the Company's global geographic footprint.

For the second half of 2023, we continue to expect shifting client needs, softness in demand, an absence of COVID-19-related business, and continued (wage) inflation due to the challenging and more volatile environment. Moreover, ongoing macro-economic uncertainties serve to highlight the importance of ongoing vigilance.

We maintain our net revenue guidance for 2023 of €2,150-2,250 million (excluding COVID-19-related business in 2022, this results in net revenue growth of +6% to +11%). Given the prevailing challenging conditions, we don’t expect to be in the upper half of this range, while high volatility (including FX) remains.

Further, the Company expects its Operating EBITDA margin for 2023 to be between 16.5%-17.0%, also factoring in the aforementioned effects, and as communicated before.

We will continue to execute our proven strategy, driven by the expertise and commitment of our people, and built on the trust and loyalty of our long-term clients. 


INVESTOR AND ANALYST CONFERENCE CALL

A webcasted conference call for investors and analysts will be hosted on Thursday, August 24, 2023, at 14:00hrs CET.

If you would like to participate in the conference call, please pre-register by clicking here and you will then receive the dial-in details.

To follow the presentation, participants of the conference call can use the following link (only slides, no audio): https://www.webcast-eqs.com/majorel-2023-hy/no-audio

If you’d like to follow the presentation without participating in the conference call, you can follow the webcast via livestream and you will receive the audio via your Internet browser. No dial-in to the conference call is required. https://www.webcast-eqs.com/majorel-2023-hy

The presentation of the H1 2023 results is currently available on the Investor Relations section of Majorel's website (ir.majorel.com).


ABOUT MAJOREL

We’re a global CX leader. Clients say that our agile culture makes us special, which means that doing business with us is easy. As experts in customer experience management, we’ve seen it all, so we’re able to ensure the reliability our clients need and the care their customers deserve. Our team members love nothing more than to just get things done, secure in the knowledge that we strive to be the best home for their talent. Our spirit is resourceful, resilient, and relentless, and this is what drives us to go further.

82,000 team members; 70+ languages; 45 countries; end-to-end CXM; tech-human augmentation; global and local. Majorel: Driven to go further. www.majorel.com

CONTACT
Investor Relations
Michèle Negen
SVP, Investor Relations
ir@majorel.com

Media Relations
Andrew Slater
SVP, Global Marketing & Communications
media@majorel.com


NOTES

[1] All financials are based on unaudited and reviewed management reporting.

[2] Net revenue for the Group corresponds to revenues as reported in our management reporting less certain direct, order-related external costs which are part of external expenses and costs of materials and consist mainly of cost of services purchased (subcontracted or outsourced services). Net revenue for each Segment corresponds to the according Segment revenues less certain direct, order-related inter-Segment and external costs. Management reporting data excludes revenues from minor activities (primarily the Sonopress Business) outside Majorel Group’s core business which are reported in the Condensed Consolidated Interim Financial Statements (the “Sonopress Business” is defined as certain non-core business activities historically carried out by Arvato de Mexico, S.A. de C.V., which was wound down in 2021). Management believes that the inclusion of supplementary adjustments to Revenue applied in presenting net revenue are appropriate to provide additional information. Management believes that net revenue is a non-IFRS measure representing a core business growth indicator. For more information on the definitions we refer to the Annual Report FY 2022, Chapter 4, Alternative Performance Measures (APMs).

[3] Like-for-like net revenue growth corresponds to net revenue growth year-over-year, adjusted for certain specific non-recurring items. For H1 2023 the reduction in COVID-19-related business and the contribution from last year’s acquisitions of Alembo, Findasense, and IST were adjusted (excluding the Mayen acquisition already completed in January 2022). Management believes that like-for-like net revenue growth is a non-IFRS measure representing a business growth indicator. For more information on the definitions, we refer to the Annual Report FY 2022, Chapter 4, Alternative Performance Measures (APMs).

[4] The COVID-19 related business and the acquisitions of Alembo, Findasense, and IST are fully reported within the EASA Segment.

[5] Change in revenue at constant currency exchange rates is calculated as current year revenue less prior year revenue at current year exchange rates, divided by prior year revenue at current year exchange rates.

[6] Operating EBITDA is defined as EBIT (earnings before interest and taxes) adjusted for amortization and depreciation, impairment and reversal on intangible assets, property, plant and equipment and right-of-use assets, adjusted for (i) impairment on goodwill and other intangible assets with indefinite useful life as well as gains from business combinations, (ii) impairment on carrying amounts on assets held for sale, (iii) impairment/reversals on other financial assets at amortized cost, (iv) impairment/reversals on investments accounted for using the equity method, (v) results from disposals of investments, (vi) fair value measurement of investments, (vii) results from disposals of intangible assets and property, plant and equipment, (viii) operating realized and unrealized forex gains and losses including on derivatives, (ix) expenses on long-term incentive programs and (x) further adjustments such as restructuring, acquisition-related and integration expenses, and other special items. For details see APM section of the Annual Report 2022.

[7] Basic earnings per share (EPS) is calculated by dividing the net profit attributable to shareholders by the weighted average number of ordinary shares in issue during the year, excluding ordinary shares purchased by the Group and held as treasury shares and the shares held under the liquidity program, if any. Diluted earnings per share is calculated by adjusting the weighted average number of ordinary shares outstanding to assume conversion of all dilutive potential ordinary shares. There is currently no category of dilutive potential ordinary shares.

[8] Net revenue retention H1 2023 is defined as net revenue generated by clients in H1 2023 divided by net revenue generated by the same cohort of clients in H1 2022 (excluding net revenue contributed by Alembo, Findasense, and IST that were acquired during 2022 and the COVID-19-related business that ended at the end of 2022). Net revenue retention H1 2022 is defined as net revenue generated by clients in H1 2022 divided by net revenue generated by the same cohort of clients in H1 2021 (excluding M&A in 2022, including the decline of the COVID-19-related business).

[9] Free cash flow is defined as Operating EBITDA less adjustments minus increase/plus decrease in net working capital after net cash out from pensions, payments from leases and net investments in property, plant and equipment and intangible assets excluding net payments from acquisitions and disposals of financial assets. For details see APM section of the Annual Report 2022.

DISCLAIMER

This announcement is released by Majorel Group Luxembourg S.A. (the “Company” or “Majorel”) and contains information that qualified or may have qualified as inside information for the purposes of Article 7 of the Market Abuse Regulation (EU) 596/2014 (MAR).

Some of the Company’s financial information presented in this announcement is unaudited, unreviewed, has been derived from the management accounts of the Company and are not presented in accordance with IFRS. Such financial measures are not measures of financial performance in accordance with IFRS and may exclude items that are significant in understanding and assessing Majorel’s financial results. Therefore, these measures should not be considered in isolation or as an alternative to loss for the period or other measures of profitability, liquidity or performance under IFRS. You should be aware that the announcement of these measures may not be comparable to similarly titled measures used by other companies, which may be defined and calculated differently. This financial information is subject to updating, revision, amendment, verification, correction, completion and change without notice. It does not purport to contain all information required to evaluate the Company or the Majorel group and/or its financial position The information does not constitute a recommendation regarding any loans or securities of the Company.

In providing access to this announcement, neither the Company nor any other person undertakes any obligation to provide you with access to any additional information or to update the information as part of this announcement or to correct any inaccuracies in any such information. No representation, warranty or undertaking, express or implied, is made by the Company or any other person as to, and no reliance should be placed on, the fairness, accuracy, completeness or correctness of the information or the opinions contained therein or any other statement made or purported to be made in connection with the Company or any of the Company’s respective affiliates, for any purpose whatsoever, including but not limited to any investment considerations. In addition, no duty of care or otherwise is owed by the Company or any of the Company’s respective affiliates to recipients of the information within this announcement or any other person in relation to the information.

This announcement include(s) forward looking statements. All statements other than statements of historical or current facts contained in this announcement, including statements regarding the Company’s future results of operations and financial position, industry dynamics, business strategy and plans and its objectives for future operations, are forward-looking statements. These statements represent management’s opinions, expectations, assumptions, beliefs, intentions, estimates or strategies regarding the future, which may not be realized. Forward looking statements are often indicated by terms such as "anticipate," "believe," "could," "estimate," "expect," "forecast," "goal," "intend," "look forward to," “conclude”, "may," "plan," "potential," "predict," "project," "should," "target" "will," "would" and/or the negative of these terms or other similar expressions that are intended to identify forward-looking statements. The forward-looking statements included in this announcement are based largely on Majorel’s current expectations and projections about future events and financial trends that Majorel believes may affect its financial condition, results of operations, business strategy, short-term and long-term business operations and objectives, and financial needs. These forward-looking statements involve known and unknown risks, uncertainties and assumptions that are difficult to predict or are beyond Majorel’s control, and actual results may differ materially from those expected or implied as forward-looking statements. For a detailed description of these factors and uncertainties, please refer to the “Risk Factors” section of Majorel’s Prospectus, available at https://www.bourse.lu/issuer/MajorelGroupSA/105258. Majorel undertakes no obligation to publicly update or revise any of these forward-looking statements.

Moreover, new risks emerge from time to time. It is not possible for the Company’s management to predict all risks, nor can it assess the impact of all factors on Majorel’s business or the extent to which any factor, or combination of factors, may cause actual results to differ from those contained in any forward-looking statements. In light of these risks, uncertainties and assumptions, the forward-looking events and circumstances discussed in this announcement may not occur and actual results could differ materially and adversely from those anticipated or implied in the forward-looking statements. Majorel cautions you therefore against relying on these forward-looking statements, and Majorel qualifies all of its forward-looking statements by these cautionary statements.

The forward-looking statements included in this announcement are made only as of the date hereof. Although Majorel believes that the expectations reflected in the forward-looking statements are reasonable, it cannot guarantee that the future results, levels of activity, performance or events and circumstances reflected in the forward-looking statements will be achieved or occur. Neither Majorel nor any other person assumes responsibility for the accuracy and completeness of the forward-looking statements. Moreover, neither Majorel nor any other person undertakes any obligation to update any forward-looking statement to reflect events or circumstances after the date of this announcement or otherwise. You should read this announcement with the understanding that Majorel’s actual future results, levels of activity, performance and events and circumstances may materially differ from what Majorel expects.

This announcement does not constitute an offer of securities for sale or a solicitation of an offer to purchase the securities described in this announcement in the United States. In particular, any securities referred to in this announcement have not been and will not be registered under the US Securities Act of 1933 (the Securities Act), or under the securities laws of any state or other jurisdiction of the United States and may not be offered, sold or delivered, directly or indirectly, in or into the United States except pursuant to an exemption from, or in a transaction not subject to, the registration requirements of the Securities Act and in compliance with any applicable securities laws of any state or other jurisdiction of the United States. There will be no public offering of securities in the United States.


Appendix: Consolidated Financial Statements

Consolidated statement of profit and loss

In € millions Notes 2023 2022 Revenues 1  1,068 992 Other operating income   19 30 External expenses and costs of materials   (186) (196) Personnel costs   (726) (640) Amortization/depreciation, impairment and reversals on intangible assets, property, plant and equipment and right-of-use assets   (57) (48) EBIT (earnings before interest and taxes)   118 138         Interest income   1 - Interest expenses   (2) (2) Other financial income   - 1 Other financial expenses   (9) (4) Financial result   (10) (5)         Earnings before taxes   108 133 Income tax expense 2  (28) (31)         Group profit or loss   80 102         attributable to:       Majorel shareholders   80 101 Non-controlling interests   - 1         Earnings per share (in €)       – Basic 3  0.80 1.01 – Diluted 3  0.80 1.01

Consolidated statement of comprehensive income

In € millions Notes 2023 2022 Group profit or loss   80 102         Items that will not be reclassified subsequently to profit or loss       Remeasurement component of defined benefit plans   - 11         Items that will be reclassified subsequently to profit or loss when specific conditions are met       Exchange differences       – changes recognized in other comprehensive income   (24) 3         Other comprehensive income net of tax   (24) 14         Group total comprehensive income   56 116         attributable to:       – Majorel shareholders   58 115 – Non-controlling interests   (2) 1

Consolidated statement of financial position

In € millions Notes June 30, 2023 December 31, 2022 Assets       Non-current assets       Goodwill   185 196 Other intangible assets   38 44 Property, plant and equipment and right-of-use assets   288 282 Investments accounted for using the equity method   4 4 Trade and other receivables   2 9 Other financial assets   1 - Deferred tax assets   42 41     560 576 Current assets       Trade and other receivables   465 526 Other financial assets   3 2 Other non-financial assets   84 70 Current income tax receivables   17 12 Cash and cash equivalents   278 245     847 855     1,407 1,431 Equity and liabilities       Equity 4      Subscribed capital   1 1 Capital reserve   231 231 Retained earnings   315 316 Majorel shareholders' equity   547 548 Non-controlling interests   8 10     555 558 Non-current liabilities       Provisions for pensions and similar obligations   33 32 Other provisions   10 11 Deferred tax liabilities   5 6 Financial debt   117 132 Lease liabilities   90 91 Trade and other payables   22 20 Other non-financial liabilities   19 18     296 310 Current liabilities       Other provisions   29 45 Financial debt   7 8 Lease liabilities   55 49 Trade and other payables   208 179 Other non-financial liabilities   225 252 Current income tax payables   32 30     556 563     1,407 1,431

Consolidated statement of cash flow

In € millions Notes 2023 2022 Earnings before interest and taxes   118 138 Amortization, depreciation and write-ups of non-current assets   57 48 Gains from business combinations   - (3) Change in provisions for pensions and similar obligations   (1) (1) Change in other provisions   (17) (4) Change in net working capital   (4) (75) Taxes paid   (33) (21) Other effects   (4) (3) Cash flow from operating activities   116 79 Investments in:       – intangible assets   (2) (1) – property, plant and equipment   (26) (37) – purchase prices for consolidated investments (net of acquired cash) 6  - 25 Disposals of other fixed assets   2 6 Cash flow from investing activities   (26) (7) Proceeds from/redemption of other financial debt   (16) 49 Redemption of lease liabilities   (29) (24) Interest paid   (5) (4) Dividends to non-controlling interests   - (2) Other effects   (3) 3 Cash flow from financing activities   (53) 22 Change in cash and cash equivalents   37 94 Exchange rate effects and other changes in cash and cash equivalents   (4) (2) Cash and cash equivalents as of January 1   245 238 Cash and cash equivalents as of June 30   278 330

Consolidated Statement of Changes in Equity

In € millions Notes Subscribed capitala) Capital reserve Retained earnings Majorel shareholders' equity Non-controlling interests Total Balance as of January 1, 2022   1 255 138 394 5 399 Group profit or loss   - - 101 101 1 102 Other comprehensive income   - - 14 14 - 14 Group total comprehensive income   - - 115 115 1 116 Dividend distributions   - (24) (8) (32) (2) (34) Acquisition of subsidiary with non-controlling interests   - - - - 5 5 Equity transactions with shareholders   - (24) (8) (32) 3 (29) Balance as of June 30, 2022 4  1 231 245 477 9 486                 Balance as of January 1, 2023   1 231 316 548 10 558 Group profit or loss   - - 80 80 - 80 Other comprehensive income   - - (22) (22) (2) (24) Group total comprehensive income   - - 58 58 (2) 56 Dividend distributions 4  - - (68) (68) - (68) Equity transactions with shareholders   - - (68) (68) - (68) Hyperinflation impact   - - 9 9 - 9 Balance as of June 30, 2023 4  1 231 315 547 8 555

 

 

 

 

 

 

 

 



End of Inside Information

24-Aug-2023 CET/CEST The EQS Distribution Services include Regulatory Announcements, Financial/Corporate News and Press Releases.
Archive at www.eqs-news.com


Language:English
Company:Majorel Group Luxembourg S.A.
18, boulevard de Kockelscheuer
L-1821 Luxembourg
Luxemburg
Phone:+352 42 142 56 11
E-mail:michele.negen@majorel.com
Internet:www.majorel.com
ISIN:LU2382956378
WKN:A3C3EP
Listed:Regulated Unofficial Market in Berlin, Dusseldorf, Frankfurt, Munich, Stuttgart; Amsterdam
EQS News ID:1710299

 
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