Synergie : Good margin resilience – full-year targets unchanged
>First-half results ahead of our expectations - Synergie reported interim results were ahead of our forecasts. First-half revenues, which had already been released and commented on (cf. Our comment of 30 July 2020), showed declines of 22.8% and 23.3% organic, and the group reported EBITDA of € 39.9m (€ 23.1m estimated) vs € 64.8m, down 38%. Underlying operating profit came to € 30.0m (€ 9.1m estimated) vs € 54.6m, down 45%, i.e. an underlying operating margin of 3% (-...Synergie is engaged in the development of human resources management, by providing services in the field of temporary work, outplacement, recruitment, consulting and training. Co. services different sectors: services and specialized sector (medical, senior employment, human services), transportation and logistics sector, industry sector, construction and civil engineering sector. As of Dec 31 2009, Co. is present in 13 countries in Europe and Canada and reports its activities geographically, in 4 areas: France, Northen and Eastern Europe, Southern Europe and Canada.
Oddo Securities provides securities brokerage and research services. The company offers equity, economic, and derivatives research and credit analysis services. It focuses on insurance, automotive, building materials, pharmaceuticals, telecommunications, information technology, and agri-food industries.
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