27 April 2021
French online staffing group Freelance.com (EPA: ALFRE) reported consolidated results for the year ended 31 December 2020.
Last month the company reported its fourth quarter and full year 2020 results. Revenue stood at €106.3 million for the fourth quarter ended 31 December 2020, an increase of 47% when compared to the previous year. Organic growth for the fourth quarter was 5%.
The Freelance.com group reported full year revenue of €325.0 million, up 37% compared to 2019.
The consolidated results include further full year financial data including EBITDA and Net Profit.
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Full year revenue growth was mainly driven by activity in France. International activity, which generates higher margins, was more affected by the restrictions linked to the pandemic and the closure of airports.
The group said that the acquisition of INOP’s in 2020, a Paris-based IT services firm, enabled a successful gradual integration throughout the second half of 2020 with a ‘very positive effect’ on customer relations or on current contracts.
Revenue pro forma group (including INOP’s from 1 January2020) stood at €376.3 million, an increase of 17%.
On January 2021, Freelance.com announced the signing of a contribution agreement with the Coworkees group, an online staffing platform that supports companies wishing to work with freelance specialists in marketing and communication in France and Switzerland.
“The growth observed at the end of 2020 testifies to the relevance of the external growth strategy of the group in order to continue to strongly develop its offer of services to external talents (independents and startups) and companies,” the group stated. “As in previous years, significant investments continue to be made in human resources, marketing and IT, keystones of the group’s strategy and its future challenges.”
Shares in Freelance.com traded at €4.73, up 7.99% on the day and 5.40% below its 52-week high of €5.00, set on 1 September 2020. The company has a market cap of €161.70 million.