Companies news
French company Freelance.com announces its consolidated revenue for the 2020 financial year
Freelance.com (Euronext Growth Paris FR0004187367 ALFRE), leader in relations between companies and their external talents, has published its consolidated revenue for the 2020 financial year (period from 1 January to 31 December 2020).
Sound and resilient business model
In the 4th quarter 2020, freelance.com generated revenue of €106.3 million, which represents growth of 47% compared with the same period in 2019 (5% organic growth*).
In 2020, freelance.com’s consolidated revenue totalled €324.0 million, representing growth of 37% compared with 2019 (17% organic growth*).
In France, freelance.com generated revenue of €272.2 million in 2020, accounting for 84% of the group’s total consolidated revenue. Organic growth* in France was 23%.
Revenue from freelance.com’s activity abroad fell by 10% to €51.8 million (16% of total revenue). Activity abroad was particularly affected by the suspension of international flights.
The group’s pro forma revenue (including INOP’S revenue from 1 January 2020) stood at €375.4 million for 2020. Despite the impact of the health crisis, INOP’S continued to report strong growth thanks to its high value added activities (digital transformation, big data, AI, dematerialisation, etc.) and its close relations with its large public and private sector customers.
Even though both the first half and second half of 2020 were significantly affected by the confinement measures, health restrictions and their economic consequences, our results are a testament to a solid and resilient business model.
Despite some positive signs, the lack of visibility calls for prudence and avoidance of any premature announcement for the first six months of 2021. However, the group’s model is based on the underlying trends, which remain true: changes in attitudes to work, quest for autonomy, increasingly leaner and more flexible companies, need for expertise in support of the digital transformation, etc. At this juncture, the group has confidence in its model for strong economic growth, combining growth and profitability, and continues its long-term strategy of automating and digitising its production tools.
Upcoming events:
▪ Combined annual and extraordinary shareholders' meeting, on Friday 5 March 2021, at 2.30 p.m.
▪ Publication of 2020 annual results on Monday 26 April 2021, after the close of the Euron-ext markets
*Organic growth is the difference between freelance.com entities’ pro forma revenue for 2019 and for 2020, less INOP’S’s revenue for 2020.
About the Freelance.com group
Positioned at the heart of the changes in the labour market, a French leader in relations between companies and their external talents, freelance.com draws on a community of some 370,000 consultants and experts working freelance or in highly specialised SMEs. The freelance.com group offers a full range of services: expertise sourcing, management of external resources, project management, umbrella services, compliance, etc. With pro forma revenue of €375.4 million in 2020 and operations in both France and abroad (Germany, UK, Morocco, Singapore and Switzerland), freelance.com is also a key player of Future of Work, which aims to simplify relations between companies and their outside talents, providing greater flexibility and security.
