Empresaria Group plc (“Empresaria” or the “Group”)
Results for the year ended 31 December 2020
Profitability, operational resilience and financial strength
Empresaria, the global specialist staffing group, reports its unaudited preliminary results for the year ended 31 December 2020.
% change (constant currency)(2)
Net fee income
Adjusted operating profit (1)
Loss/(profit) before tax
Adjusted profit before tax (1)
Diluted loss per share
Adjusted diluted earnings per share (1)
Strong start to 2020 with year-on-year operating profit growth in every month of the first quarter
Benefits of diversification by sector and geography demonstrated throughout the year
Resilience of the Group’s balance sheet proven – adjusted net debt reduced to £13.6m (2019: £19.1m)
Net fee income down 28% to £54.0m as a result of the impact of COVID-19
Adjusted operating profit down 40% to £6.2m – profitable in every quarter of 2020
Strategic and operational investments protected
2021 guidance reinstated
Resumption of dividend with a final dividend of 1.0p per share proposed (2019: nil)
Adjusted to exclude amortisation of intangible assets identified in business combinations, impairment of goodwill and other intangible assets, exceptional items, fair value charges on acquisition of non-controlling shares and, in the case of earnings, any related tax.
The constant currency movement is calculated by translating the 2019 results at the 2020 exchange rates.
Chief Executive Officer, Rhona Driggs, commented:
“Our results for 2020 demonstrated the resilience of our operating model and the benefits of our diversification by sector and geography. The swift actions we took early in the pandemic helped to protect our profitability. While cost was a key consideration, our focus on the Group’s operations did not waiver as we protected, and in several cases accelerated, our key operational initiatives and investments. Early indications of trading in 2021 are positive and although, due to our strong start to last year, adjusted profits for the first half of 2021 are likely to be behind the first half of 2020 we expect for the full year to deliver adjusted profits in line with or better than 2020. We enter 2021 well positioned to exit the pandemic stronger than we entered it and to take advantage of recovery in our markets.”
In line with Empresaria’s commitment to ensuring appropriate communication structures are in place for all sections of its shareholder base, management will deliver an online results presentation open to all existing and potential investors via the Investor Meet Company platform on Thursday 18 March 2021 at 4:15pm UK time.
Questions can be submitted pre-event through the platform or at any time during the live presentation. Management may not be in a position to answer every question it receives but will address those it can while remaining within the confines of information already disclosed to the market.
Q&A responses will be published at the earliest opportunity on the Investor Meet Company platform. Investors can sign up for free here.
Those who have already registered and requested to meet the Company will be automatically invited.
Empresaria Group plc
Rhona Driggs, Chief Executive Officer
Tim Anderson, Chief Financial Officer
via Alma PR
N+1 Singer (Nominated Adviser and Broker)
Shaun Dobson/James Moat
020 7614 3000
Alma PR (Financial PR)
020 3405 0205
Notes for editors:
Empresaria Group plc is a global specialist staffing group offering temporary and contract recruitment, permanent recruitment and offshore recruitment services across 6 sectors: Professional; IT; Healthcare; Property, Construction and Engineering; Commercial and Offshore Recruitment Services.
Empresaria operates in 20 countries across the world including the 4 largest staffing markets of the US, Japan, UK and Germany along with a strong presence elsewhere in Asia Pacific and Latin America.
Empresaria is listed on AIM under ticker EMR.