Slide 1: Annual Results 2016
ANNUAL RESULTS 2016
Slide 2: Profile: growth in the 2 business divisions
PROFIL GROWTH IN THE 2 BUSINESS DIVISIONS 19th world’s largest staffing firm (1) N.1 french indépendant AIRPORT SERVICES 528 branches TEMPORARY STAFFING & RECRUITMENT N.1 in France +30 000 clients Concessions +230 000 €1.83b temp. workers MULTI- SERVICES 125 revenue airlines over 1.2 million €335m +
Slide 3: Strong positions in France, offensive international development
PROFIL STRONG POSITIONS IN FRANCE. OFFENSIVE INTERNATIONAL DEVELOPMENT France € 1.67b (78% of total revenue) Europe (hors France) € 144m Spain (7% of total revenue) Germany Switzerland United-Kingdom € 286m Ireland (13% of total revenue) America United-States Dominican Republic Afrique € 48m 14 coun
Slide 4: 2016: Strong performances
2016 : STRONG PERFORMANCES Group revenue growth up 10.6% to €2.14m France : Temp. Staffing and recruitment up 14.1% (100% organic growth) Ebitda up 6.7% to € 124.3m Net profit Group share to € 75.4m € 435.6m in equity 4 – Annual results 2016
Slide 5: Activity
ACTIVITY Double digit organic growth 2 billion revenue goal exceeded
Slide 6: Organic growth up 10.3%
ORGANIC GROWTH UP 10.3% CHANGE IN ANNUAL REVENUE BREAKDOWN BY DIVISION in million euros in % of total revenue +10.6% Multi-services 14.7% 2 145.3 +14.4% (2015 : 15.2%) 1 939.9 1 695.1 Temp. staffing & recruitment 85.3% (2015 : 84.8%) Growth at constant perimeter and exchange rate +10.3% 6 – Annual r
Slide 7: A dynamic confirmed over the months
A DYNAMIC CONFIRMED OVER THE MONTHS CHANGE IN QUATERLY REVENUE in million euros +9.6% +8.6% +10.9% +13.9% 565.0 555.8 554.7 520.4 505.9 501.1 469.8 412.6 2015 2016 Growth at constant perimeter and exchange rate +13.4% +9.7% +8.6% +10.0% 7 – Annual results 2016
Slide 8: Temp. staffing & recruitment
Temp. staffing Travaillons ensemble & recruitment Strong growth driven by French operations
Slide 9: Staffing growth: up above 11%
Travaillons ensemble STAFFING GROWTH : UP ABOVE 11% CHANGE IN ANNUAL REVENUE BREAKDOWN FRANCE / INTERNATIONAL in million euros in % +11.3% International 23.9% (2015 : 25.7%) 1 829.7 +15.6% 1 644.7 1 422.6 France 76.1% (2015 : 74.3%) Growth at constant perimeter and exchange rate TEMP. STAFFING +10.9
Slide 10: France: performances confirmed
FRANCE : Travaillons ensemble PERFORMANCES CONFIRMED CHANGE IN REVENUE IN FRANCE in million euros + 14.1% 1 393.1 +12.0% 1 221.3 +5.4% 100% organic growth 1 090.5 1 034.4 TEMP. STAFFING & RECRUITMENT 10 – Annual results 2016
Slide 11: France: continued outperformance compared to market
FRANCE : CONTINUED OUTPERFORMANCE Travaillons ensemble COMPARED TO MARKET QUATERLY GROWTH in % 17.3 13.4 13.9 14.1 12.4 10.1 8.9 14.5 9.2 7.3 8 6.4 5.4 3.7 3.2 7.5 8 2.7 4.5 6 6 16 quarters -4.3 1.5 1 0.8 0.7 1.5 of continued -3.5 CRIT outperformance -10.4 -4 Market -9.5 -12.5 Q1 13 Q2 13 Q3 13 Q4 1
Slide 12: France: continued outperformance compared to main actors
FRANCE : CONTINUED OUTPERFORMANCE Travaillons ensemble COMPARED TO MAIN ACTORS Change in Change in Change in Change in France 2013 2014 2015 2016 Adecco -9.0% -2.0% +2.0% +5.0% Manpower -5.8% +1.2% +4.3% +4.0% Randstad -8.0% -4.0% +4.0% +7.0% CRIT ORGANIC -0.5% +5.4% +12.0% +14.1% TEMP. STAFFING & R
Slide 13: France: industry, a strong driver of growth
FRANCE : Travaillons ensemble INDUSTRY, A STRONG DRIVER OF GROWTH BREAKDOWN OF ANNUAL REVENUE BREAKDOW REVENUE BY CUSTOMER PROFIL France France (as a % of divisional revenue) SMA 49% % of total (2015 : 54%) Change in 2016 revenue Industry +18.1% 50% Building + 6.4% 15% Services +12.1% 35% TOTAL +14.
Slide 14: France: growth in all sectors
Travaillons ensemble FRANCE : GROWTH IN ALL SECTORS CONTRIBUTION TO GROWTH BY MAIN SECTORS (in full-time equivalent - France) +13.8% CRIT : +7.3% FTE growth excl. automotive 6.5% CRIT Market +6.6% Market (1) : +5.0% FTE growth excl. automotive 3.4% 1.6% 1.6% 2.0% 2.4% 1.2% 0.7% 1.0% 0.0% Automotive
Slide 15: France: dynamic network management
FRANCE: Travaillons ensemble DYNAMIC NETWORK MANAGEMENT CRIT NETWORK IN FRANCE Transfer agency to improve proximity 354 branches at end of 2016 vs 355 at end of 2015 > 23 transfers in 2016 permanent staff : 1 392 employees vs 1 321 in 2015 Strong dynamic in specialisations > Automotive. > Aeronautic
Slide 16: International: consolidation
Travaillons ensemble INTERNATIONAL : CONSOLIDATION CHANGE IN INTERNATIONAL REVENUE BREAKDOWN BY GEOGRAPHY in million euros in % +3.1% +27.5% 436.6 423.5 Spain United-states 24.1% 332.0 65.3% ROW (Morocco. Tunisia. Germany. Switzerland) 10.6% Growth at constant perimeter and exchange rate TEMP. STAFF
Slide 17: Sustained growth in Spain, stability in the United States
SUSTAINED GROWTH IN SPAIN, Travaillons ensemble STABILITY IN THE UNITED-STATES CHANGE IN REVENUE BY COUNTRY in million euros -0.3% (2) + 28.2% (1) 285.9 285.1 223.0 +16.6% + 32.9% 105.3 90.3 67.9 TEMP. STAFFING 2014 2015 2016 & RECRUITMENT (1) + 4.1% at constant perimeter and exchange rate in 2015 (
Slide 18: United States: two new acquisitions
UNITED-STATES : Travaillons ensemble TWO NEW ACQUISITIONS TWO NEW ACQUISITIONS IN THE UNITED-STATES Nov. 2016 : acquisition of TeamSoft (integration in November 2016) Staffing company based in Wisconsin specialised in the delegation and the highly qualified IT jobs recruitments (project managers, de
Slide 19: Multi-services: Dynamic confirmed
multi-services Dynamic confirmed
Slide 20: Multi-services: dynamic confirmed
MULTI-SERVICES : DYNAMIC CONFIRMED CHANGE IN MULTI- SERVICES REVENUE BREAKDOWN OF DIVISION’S REVENUE BY ACTIVITY in million euros In % +7.7% +6.9% Airport services 73.2% 334.5 (2015 : 74.1%) 312.9 290.5 Engineering & maintenance 26.8% (2015 : 25.9%) MULTI- SERVICES 20 – Annual results 2016
Slide 21: A new successful year in airport services
A NEW SUCCESSFUL YEAR IN AIRPORT SERVICES CHANGE IN AIRPORT SERVICES REVENUE In millions d’euros Growth driven by the french activities > Revenue up 8.4% to € 203.4m +5.7% (83% of activity of the division) > 11 contracts signed in 2016… 244.9 > … of which 6 new contracts : Air Caraïbes, Rossiya (Orl
Slide 22: Airport services: new positions in London Heathrow
AIRPORT SERVICES : NEW POSITIONS IN LONDON HEATHROW INTERNATIONAL : ACQUISITION OF COBALT GROUND SOLUTIONS > Subsidiary of Air France/KLM > N.3 in ground handling services at London Heathrow > Full handling (check-in, ticketing, baggage, ramp handling…) on terminals 3 and 4… > Ground services to 13
Slide 23: Results
RESULTS
Slide 24: Activity: change in revenue
ACTIVITY CHANGE IN REVENUE in million euros Change 2015 2016 2016/2015 Temp. staffing & recruitment 1 644.7 1 829.7 + 11.3% Airport services 231.8 244.9 + 5.7% Other services 81.1 89.7 + 10.5% Inter-segment elimination (17.6) (19.0) TOTAL GROUP 1 939.9 2 145.3 +10.6% 24 – Annual results 2016
Slide 25: EBITDA by division
EBITDA (1) BY DIVISION 2015 2016 € million % of revenue € million % of revenue Temp. Staffing & recruitment 92.4 5.6% 98.6 5.4% - France 68.1 5.6% 78.0 5.6% - International 24.3 5.7% 20.6 4.7% Multi-services 24.1 7.7% 25.7 7.7% - Airport services 19.7 8.5% 20.4 8.3% - Other 4.4 5.5% 5.2 5.8% TOTAL G
Slide 26: Profit & loss
PROFIT & LOSS (€ million) 2015 2016 REVENUE 1 939.9 2 145.3 Operating expenses (1 817.5) (2 013.8) Provisions (5.9) (7.2) EBITDA 116.5 124.3 EBITDA/revenue 6.0% 5.8% Depreciation (17.5) (19.2) CURRENT OPERATING INCOME 99.1 105.1 COI/revenue 5.1% 4.9% Other expenses 3.2 - OPERATING INCOME 102.3 105.1
Slide 27: Balance sheet
BALANCED SHEET (€ million) 12/31/2015 12/31/2016 Fixed assets 415.8 487.6 Current assets 394.9 472.6 Cash and cash equivalents 159.7 107.1 ASSETS 970.4 1 067.3 Shareholder’s equity 367.2 435.6 Provisions 31.7 39.0 Financial debts 177.1 153.4 Current liabilities 394.4 439.3 LIABILITIES 970.4 1 067.3
Slide 28: Net financial debt
NET FINANCIAL DEBT (€ million) 12/31/2015 12/31/2016 Borrowings, non current portion 85.4 98.5 Borrowings, current portion 48.9 31.8 Gross financial debt 134.3 130.3 Cash and cash equivalents (159.7) (107.1) Overdrafts 42.8 23.1 Net cash 116.9 84.0 NET FINANCIAL DEBT 17.5 46.3 CICE (110.7) (155.3) N
Slide 29: Cash flow statement
CASH FLOW STATEMENT (€ million) 12/31/2015 12/31/2016 Net result including minority interests 77.1 75.3 Restatement of non cash items (36.3) (25.9) Cost of financial debt 3.6 1.4 Income tax 33.8 34.3 CASH FLOW BEFORE COST OF NET DEBT AND INCOME TAX 78.3 85.1 Change in working capital 19.8 (26.9) Tax
Slide 30: Outlook
OUTLOOK TEMP. STAFFING & Favorable outlook RECRUITMENT MULTI- Airport services : good trends in France SERVICES new positions on the 1st airport in Europe
Slide 31: Favorable outlook
Travaillons ensemble FAVORABLE OUTLOOK FRANCE A more favorable economic environment > GDP 2017 : +1.4% (source OCDE March 2017) vs +1.1% in 2016 Continued strong demand in key markets A good beginning of year > Market cumulated temp. employees as at Feb. 2017 : + 8.0% (source Prism’emploi/credoc) >
Slide 32: Airport services: good trends in France, extension of international positions
AIRPORT SERVICES : GOOD TRENDS IN FRANCE EXTENSION OF INTERNATIONAL POSITIONS FRANCE : a good beginning of year > Airlines traffic in Roissy and Orly up 2.6% (1) in January 2017 (aircrafts movements) > Airport services cumulated revenue as at Feb. 2017 up 9.4% organic growth INTERNATIONAL : a new di
Slide 33: Dividend: 0.40 €/share
DIVIDEND : 0.40 €/SHARE Proposed at the next shareholder’s general meeting of June 07th, 2017 Dividend of 0.40 €/share 33 - Résultats semestriels 2016
Slide 34: Share characteristics
SHARE CHARACTERISTICS CHANGE IN MARKET PRICE OVER 1 YEAR Feb. 2017 Group CRIT enters the indice Euronext Family Business 78 75 72 69 66 63 DISTRIBUTION OF CAPITAL 60 at 02/28/2017 57 54 51 48 Own shares 09/05 17/06 28/07 07/09 18/10 28/11 09/01 17/02 1.3% Code ISIN FR0000036675 Familiy-held Market s
Slide 35: Annex: current operating income by division
ANNEX CURRENT OPERATING INCOME (1) BY DIVISION 2015 (1) 2016 € million % of revenue € million % of revenue Temp. Staffing & recruitment 84.3 5.1% 90.2 4.9% - France 67.3 5.5% 77.1 5.5% - International 17.0 4.0% 13.1 3.0% Multi-services 14.7 4.7% 14.9 4.5% - Airport services 11.3 4.9% 12.3 5.0% - Oth