In the third quarter, temporary work activity continued to improve
significantly with a growth of 13.6% (at constant scope and exchange rates). As
expected, this intensification of the recovery includes a basis effect relating
to the 2020 Covid crisis and the recovery of demand in the main customer
In the multi-service division, the growth was of 47.6% (at constant scope and
In this context, after a first half growth of 17.2% (at constant scope and
exchange rates), revenue for the third quarter of 2021 amounted to EUR533.9
million (1), up 17.1% at constant scope and exchange rates In France, the
continuous improvement of the activity is confirmed with a quarterly turnover
of EUR409.8 million growing by 18.1%. International activities increased by
13.9% at constant scope and exchange rates.
Temporary work: + 13.6 %
In temporary work (86% of total activity), revenue for the third quarter
amounted to EUR459.2 million (2), up 13.6% compared to the same period of 2020
at constant scope and exchange rates.
In France, revenue for the quarter reached EUR347.9 million, up 14.6% compared
to the same period in 2020, driven by the demand in logistics, commerce and
agri-food industry. Compared to 2019, activity is down 13.1%, confirming the
return to pre-crisis activity levels.
This strong increase in the quarter is an excellent performance in a context
where the recovery of industries strongly penalized by sanitary measures
(aviation, hospitality, F&B, etc.) is still in its early stages. While the
lifting of restrictions is confirmed over the months, the strong rebound
expected in these sectors will support growth in the coming quarters.
Internationally (24.2% of the division's activity), third-quarter revenue
amounted to EUR111.3 million, up 10.6% at constant scope and exchange rates. In
the United States, the quarter remained mixed, still penalized by the
conditions of activity in the automotive sector and persistent skills shortages
in the sectors in recovery phase. The Iberian business, on the other hand,
continues to perform above pre pandemic levels.
The Multiservice Division generated quarterly revenue of EUR80.6 million (2),
up 47.6% at constant scope and exchange rates compared to the third quarter of
Airport activities (75.2% of the division's total turnover) confirmed their
improvement during the summer, driven by the recovery of intra-European air
traffic. Thus, revenue for the quarter amounted to EUR60.6 million compared to
EUR38.2 million in 2020. In the coming months, this clear restart should be
reinforced by the reopening of transatlantic traffic scheduled from the
beginning of November.
In this context, with the renewal of its airport licenses, an activity that is
improving quarter after quarter and very solid operational and financial
fundamentals, the group reaffirms its confidence in its ability to fully
benefit from the ongoing recovery.
Detailed analysis of foreign exchange and perimeter impacts
Revenue Change Organic Currency Perimeter
2021 2020 2021/2020 change Impact (3) Impact (4)
(1) Unaudited data
(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 perimeter 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,
* for 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.
Q4 2021 revenue January 26th 2022 after market closing
Groupe CRIT is a French leading company in staffing and airport assistance, in
the global top 20. The Group is listed on Euronext Paris (Compartment B
FR0000036675) and is included in the CAC All-tradable, CAC Allshares, CAC
Mid&Small, Euronext Family Business.
Tel : 01.49.18.55.03