Q3 2021 Financial information

2021 third-quarter revenue

Organic growth: +11.9%

Annual revenue target revised upwards

Target for operating margin from ordinary activities moved to the top of the range

Aubay delivered another strong performance over third-quarter 2021, with growth accelerating to 11.9%.

Consolidated revenue came to €111.6 million, of which €55.8 million was generated in France and €55.8 million overseas. As in the second quarter of the year, performances in France and overseas were very similar, with double‑digit growth of 11.4% and 12.4%, respectively.

During the period, all of the expiring services center contracts were renewed by their clients and the Group won numerous new accounts, thereby expanding the scope of its business operations. The market was once again very buoyant, with the Group receiving an ever-increasing number of tenders.

Recruitment continued to play a key role in driving the sales momentum. In September, the Group passed the symbolic 7,000 mark, with 7,103 employees at September 30, 2021 versus 6,888 at June 30, 2021, representing a record net recruitment of 215 employees in the third quarter alone, and 541 net new hires since the beginning of the year.

Productivity remained high at 95.0%, up from 94.5% in the year-ago period.

Outlook for 2021

Based on the performance delivered during the first nine months of the year and the strong upward trends observed, the Group has revised its annual revenue target upwards for the second time. Initially set at between €440 million and €450 million and then adjusted in July 2021 to between €456 million and €465 million, the revenue target is now set at between €465 million and €470 million.

The target for operating margin from ordinary activities has been moved to the top of the range, at between 10% and 10.5% versus between 9.5% and 10.5% previously.

Aubay will publish its full-year 2021 revenue on Wednesday, January 26, 2022 after the close of trading.

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