2023-09-26 06:56:03
Micropole recorded a net loss of 0.2 million euros in the first half of the 2023 financial year from continuing activities compared to a profit of 0.9 million euros a year earlier. Current operating profit reached 3.2% of revenues, at 2.2 million euros compared to 3.9% and 2.7 million euros respectively for the previous year.
Micropole explains this decline mainly by activity in Switzerland significantly lower than that of the first half of 2022 and by an indexation of salaries in Belgium of 11% which might not be completely offset by the increase in TJM (average daily rate). He also cites continuing tension on resources with recruitment difficulties, high turnover, and an increase in average salary of 4.6%.
The turnover of the consulting group specializing in the transformation of businesses through Data amounted to 71.2 million euros, representing growth of 4.7%. At constant scope and exchange rate, activity increased by 3.6%.
As of June 30, the group has a solid financial structure with cash amounting to 16.2 million euros and net financial debt (excluding IFRS 16 rental debt) of 3.9 million euros, a decrease of 6 million euros compared to the end of December 2022.
The sharply increasing net operating cash flow amounts to 9.1 million euros compared to -8.6 million euros in the first half of 2022, which results from the good management of the working capital requirement as well as the collection of tax debts.
“The international geopolitical context and tensions on the markets (inflation, prices of energy and raw materials, exchange rates, interest rates) create a general climate of uncertainty,” explains Micropole regarding its outlook. Despite this still uncertain period, Micropole maintains “its medium-term ambitions, particularly for profitability”.
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