DJ Freelance.com: Annual earnings up sharply in 2022
Freelance.com Freelance.com: Annual earnings up sharply in 2022 24-Apr-2023 / 17:55 CET/CEST Dissemination of a French Regulatory News, transmitted by EQS Group. The issuer is solely responsible for the content of this announcement.
-----------------------------------------------------------------------------------------------------------------------
Press release - 24 April 2023
Annual earnings up sharply in 2022
Reported revenue: +59%
EBITDA*: +78%
Group net income: +83%
Freelance.com (Euronext Growth Paris - FR0004187367 - ALFRE), the leader in relationship management between businesses and their external talent, is releasing its 2022 full-year financial results (period from 1 January to 31 December 2022), which have been audited and are presented and commented on below in summary form. They have been prepared on a consolidated basis in accordance with French accounting standards and were approved by the Board of Directors at its meeting of 21 April 2023.
2022 2021
Audited consolidated data (in EURm, French accounting standards) Change
Consolidated Consolidated**
Revenue 800.2 502.6 +59%
EBITDA* 27.0 15.2 +78%
Operating income/(loss) 24.7 13.8 +79%
Net financial income (3.1) (1.2) (1.9)
Non-recurring profit/loss 0.4 (0.4) 0.8
Income tax (3.9) (2.1) (1.8)
Consolidated income 18.1 10.0 +81%
Net income (Group share) 18.1 9.9 +83%
*EBITDA = Operating income before depreciation and amortisation and operating provisions, primarily for liabilities and charges and retirement bonuses.
**Including Coworkees, TMC France and Helvetic Payroll, consolidated from 5 March, 1 July and 1 November 2021, respectively.
Consolidated 2022 revenue: EUR800.2m
Freelance.com generated consolidated revenue for financial year 2022 of EUR800.2m, an increase of 59% compared with EUR502.6m a year earlier. This growth was driven by the quality of sales momentum, based on a range of services adapted to demand (a +19% increase in organic growth), and by acquisitions that were strategic and accretive for the Group.
-- In France, Freelance.com's revenue rose 25% to EUR509.7m.
-- Internationally, revenue grew by a substantial 203% to EUR290.5m, benefiting in particular from theconsolidation of Helvetic Payroll. Total international activity accounted for 36% of the Group's revenue in 2022.
Strong growth in EBITDA
The 2022 consolidated financial statements show EBITDA of EUR27.0m compared with EUR15.2m in 2021, up 78% year on year. Operating income rose by 79% to EUR24.7m, compared with EUR13.8m a year earlier.
After taking into account financial and non-recurring income and an income tax expense of EUR3.9m, Group net income came to EUR18.1m compared with EUR9.9m in 2021, representing an increase of 83%.
Strengthened equity and solid financial capacity
At the end of 2022, the Group had a stronger balance sheet structure, with equity of EUR137.9m compared with EUR116.6m a year earlier.
Free cash flow rose by 21% to EUR81.1m, which includes operating cash flow of EUR27.9m versus EUR11.1m in 2021, an increase of 151%.
Outlook for 2023
Given the positive trends in its underlying activities, the quality of the current sales momentum and the integration over twelve months of the offers and skills from recently acquired companies, the Group is confident in its growth prospects.
Freelance.com aims to enhance its value proposition through structural acquisitions of companies sharing the same vision of the "Future of Work", with specific know-how, whether complementary or established in new high-potential geographical areas. This will consolidate its status as a leading player in Europe.
Upcoming events: - 15 May 2023: Q1 2023 revenue - 16 June 2023: 2023 Annual General Meeting - 28 August 2023: H1 2023 revenue
About the freelance.com group
Positioned at the heart of the transformation of the labour market, as the leader in relations between businesses and their external talent in France, freelance.com relies on a community of 370,000 consultants and experts working as freelancers or in hyper-specialised SMEs. Freelance.com offers a comprehensive range of services: sourcing expertise, external resource management, project management, wage portage, compliance, etc. With revenue of EUR800.2m in 2022 (GMV of EUR820.7m) and operations in France and internationally (Germany, England, Morocco and Switzerland), Freelance.com is the leading player in the Future of Work with one clear purpose: to open up, simplify and secure relations between businesses and their external talent.
Name: FREELANCE.COM ISIN code: FR0004187367 Ticker: ALFRE Number of shares comprising the share capital: 56,535,254
FREELANCE.COM
FREELANCE.COM
Claude Tempé Florent Briant
Vice-Chairman Chief Financial Officer
Mobile: +33 (0)6 60 51 60 06 ctempe@freelance.com
Mobile: +33 (0)6 95 84 14 18
fbriant@freelance.com
APPENDIX 1. BALANCE SHEET / Total ASSETS
Audited consolidated data (in EURm, French accounting standards) 31/12/2022 31/12/2021 Fixed assets 191.2 187.0 O/W goodwill 181.1 178.6 Current assets 192.5 154.4 O/W Trade receivables 145.7 117.6 O/W Other receivables 46.8 36.7 Cash 81.1 67.2 Accrual account 2.0 2.4 TOTAL ASSETS 466.7 411.0
APPENDIX 2. BALANCE SHEET / Total LIABILITIES
Audited consolidated data (in EURm, French accounting standards) 31/12/2022 31/12/2021 Shareholders' equity (Group share and non-controlling interests) 137.9 116.6 Provisions for risks and charges 1.1 1.2 Debt 326.7 291.3 o/w borrowings and financial debt 110.0 115.3 o/w tax and social charges 88.6 77.3 o/w trade payables 121.3 93.7 o/w other payables 6.8 5.1 Accrual accounts 1.2 1.9 TOTAL LIABILITIES 466.7 411.0
-----------------------------------------------------------------------------------------------------------------------
Regulatory filing PDF file File: Annual earnings up sharply in 2022
=----------------------------------------------------------------------
Language: English
Company: Freelance.com
1, parvis de La Défense
92044 PARIS LA DEFENSE CEDEX
France
Phone: 0614455821
E-mail: fcanetti@freelance.com
Internet: www.freelance.com
ISIN: FR0004187367
Euronext Ticker:
AMF Category: Inside information / News release on accounts, results
EQS News ID: 1615595
End of Announcement EQS News Service
=------------------------------------------------------------------------------------
1615595 24-Apr-2023 CET/CEST
Image link: https://eqs-cockpit.com/cgi-bin/fncls.ssp?fn=show_t_gif&application_id=1615595&application_name=news
(END) Dow Jones Newswires
April 24, 2023 11:55 ET (15:55 GMT)
