Openjobmetis S p A : 2023 Results Conference Call - 13 March 2024

March 10, 2024

2023 Results Conference Call

13 March 2024

THE GROUP

760 Direct employees and >110K missions (FY2023)

>140 Branches

	38	1	8
15

	14
3
Family Care first specialised Employment Agency		18 36
(20 branches)			4 6

2			1 5
		3

>9.000 business customers			6

TEMPORARY WORK IN ITALY

Revenues

Revenues Q4 2023 vs. Q4 2022

Revenues FY 2023 vs. FY 2022

10%

(4,6%)

(3,8%)

(2%)

8%*

(2,5%)

(3%)

*Region Southern Europe, in which Italy is included

Sources: Reported Company data

REVENUES BY COMPANY (EURO '000, NET OF INTERCOMPANY)

Company	Business Area	2022	2023	Var%

	Temporary Work	725.848	702.404	(3,2%)

	Temporary Work	22.767	26.505	16,4%

	Temporary workers training and	11.307	11.221	(0,8%)
	other services in outsourcing


	Research and selection middle	6.397	7.291	14,0%
	and top management; Digital
	Head Hunting
	Outplacement and managerial	2.054	1.368	(33,4%)
	training


Group Revenues		768.373	748.790	(2,5%)

Group Gross Margin (reported)

95.162

96.757

1,7%

Group Margin % (reported)

12,4%

12,9%

2023 VS 2022

Euro Million

Revenues

Gross Margin

Gross Margin %

Costs

EBITDA

EBITDA margin

EBIT

Net Income

NON- RECURRING COSTS

EBITDA ADJ

EBITDA Adj margin

ADJ COSTS

2022 2023

768,4 748,8

95,2 96,8

12,4% 12,9%

65,8 68,4

29,4 28,3

3,8%3,8%

21,2 19,8

14,3 12,6

0,9 2,14

30,2 30,5

3,9%4,1%

65,0 66,3

INCOME STATEMENT 2023 VS 2022

Euro ('000)	At 31 December	Var. 2023/2022


	2023	2022
Revenues	748.790	768.373	(19.583)
Costs of temporary work	(652.033)	(673.211)	21.178
Gross Margin	96.757	95.162	1.595
Other income	15.087	15.306	(219)
Employee costs	(43.173)	(42.546)	(627)
Cost of raw materials and consumables	(200)	(199)	(1)
Costs for services	(38.239)	(37.493)	(746)
Other operating expenses	(1.910)	(862)	(1.048)
EBITDA	28.322	29.368	(1.046)
Impairment loss on trade and other receivables	(2.072)	(1.685)	(387)
Amortisation and Depreciation	(5.786)	(5.820)	34
EBITA	20.464	21.863	(1.399)
Amortisation of intangible assets	(688)	(667)	(21)
EBIT	19.776	21.196	(1.420)
Financial income	1.427	36	1.391
Financial expense	(2.334)	(693)	(1.641)
Pre-tax profit (loss)	18.869	20.539	(1.670)
Income taxes	(6.302)	(6.225)	(77)
Profit (loss) for the year	12.567	14.314	(1.747)

NWC

(Euro million)

NPF

(Euro million)

DSO (days)

BALANCE SHEET INDICATORS

31/12/2021	30/03/2022	30/06/2022	30/09/2022	31/12/2022	30/03/2023	30/06/2023	30/09/2023	31/12/2023

38,2		32,7		15,2		14,2		28,3	17,4	22,1	26,1	39,0


44,5		35,8		17,5		12,7		26,2	12,8	19,4	26,0	36,1


69*		72		70		64		68	66	72	69	70

* Net of «Quanta» consolidation effect

BALANCE SHEET 2023 VS 2022

Euro ('000)					Var. 2023/2022
	31/12/2023	% su CIN* /	31/12/2022	% su CIN* /

	Totale fonti	Totale fonti

Intangible assets and goodwill	102.074	57,0%	102.842	60,8%	(768)
Property, plant and equipment	3.553	2,0%	3.493	2,1%	60
Right of use for leases	14.007	7,8%	13.838	8,2%	169
Other net non-current assets and liabilities	20.309	11,4%	20.654	12,2%	(345)

Total non-current assets/liabilities	139.943	78,2%	140.827	83,3%	(884)

Trade receivables	145.020	81,1%	144.584	85,5%	436
Other receivables	10.374	5,8%	8.423	5,0%	1.951
Current tax assets	116	0,1%	81	0,0%	35
Trade payables	(13.494)	(7,5%)	(14.752)	(8,7%)	1.258
Current employee benefits	(56.882)	(31,8%)	(62.861)	(37,2%)	5.979
Other payables	(41.301)	(23,1%)	(40.879)	(24,2%)	(422)
Current tax liabilities	(73)	(0,0%)	(2.512)	(1,5%)	2.439
Current provisions for risks and charges	(4.779)	(2,7%)	(3.757)	(2,2%)	(1.022)
Net working capital	38.981	21,8%	28.327	16,7%	10.654

Total loans - net invested capital	178.924	100,0%	169.154	100,0%	9.770

Equity	141.372	79,0%	141.521	83,7%	(149)
Net financial indebtedness	36.133	20,2%	26.216	15,5%	9.917
Employee benefits	1.419	0,8%	1.417	0,8%	2
Total sources	178.924	100,0%	169.154	100,0%	9.770

* Net Invested Capital	© Openjobmetis S.p.A. - Registered office: Via Assietta, 19 - 20161 Milano- www.openjobmetis.it - info@openjobmetis.it	8

Openjobmetis S.p.A. - AGENZIA PER IL LAVORO - Aut. Prot. N. 1111-SG del 26/11/2004

HEADQUARTERS AND OFFICES: Via Marsala, 40/C - Centro Direzionale Le Torri - 21013 Gallarate (VA)

REGISTRATED OFFICE: Via Assietta, 19 - 20161 Milano

Ph. +39 0331 211501 - info@openjob.it

Tax code/VAT No./Registration No. Business Register Milan-MB-Lodi 13343690155

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Openjobmetis S.p.A. published this content on 11 March 2024 and is solely responsible for the information contained therein. Distributed by Public, unedited and unaltered, on 14 March 2024 08:49:03 UTC.

	1st Jan change	Capi.
OPENJOBMETIS S.P.A.	+2.19%	214M
ROBERT HALF INTERNATIONAL, INC	-21.12%	7.17B
ADECCO GROUP AG	-22.90%	5.83B
MANPOWERGROUP INC.	-4.56%	3.67B
PERSOL HOLDINGS CO.,LTD.	-8.96%	3.14B
SHANGHAI FOREIGN SERVICE HOLDING GROUP CO., LTD.	+2.08%	1.54B
STERLING CHECK CORP.	+9.91%	1.5B
FESCO GROUP CO., LTD.	+0.59%	1.47B
KFORCE INC.	-5.08%	1.2B
SYNERGIE SE	+3.69%	922M

1st Jan change

Capi.

OPENJOBMETIS S.P.A.

+2.19%

214M

ROBERT HALF INTERNATIONAL, INC

-21.12%

7.17B

ADECCO GROUP AG

-22.90%

5.83B

MANPOWERGROUP INC.

-4.56%

3.67B

PERSOL HOLDINGS CO.,LTD.

-8.96%

3.14B

SHANGHAI FOREIGN SERVICE HOLDING GROUP CO., LTD.

+2.08%

1.54B

STERLING CHECK CORP.

+9.91%

1.5B

FESCO GROUP CO., LTD.

+0.59%

1.47B

KFORCE INC.

-5.08%

1.2B

SYNERGIE SE

+3.69%

922M

Market Closed - Borsa Italiana Other stock markets 11:44:59 2024-04-26 am EDT			5-day change	1st Jan Change
16.35 ^EUR	0.00%		-0.30%	+2.19%

Apr. 24	Crit takes over MTI's stake in Openjobmetis, takeover bid nears	AN
Apr. 22	Crit: conditions for Openjobmetis acquisition lifted	CF

Crit takes over MTI's stake in Openjobmetis, takeover bid nears	Apr. 24	AN
Crit: conditions for Openjobmetis acquisition lifted	Apr. 22	CF
Openjobmetis, revenues and profit drop in 2023; dividend confirmed	Mar. 13	AN
Openjobmetis S.p.A. Reports Earnings Results for the Full Year Ended December 31, 2023	Mar. 12	CI
Europeans down; Sogefi rises 33% post accounts	Feb. 26	AN
Piazza Affari down; Leonardo tops the Mib	Feb. 26	AN
Europeans heading for a slightly down opening	Feb. 26	AN
Milan maglia rosa; gas prices fall sharply	Feb. 23	AN
Groupe Crit toward takeover bid on Openjobmetis after agreements to take over 58 percent	Feb. 23	AN
Crit: confirmed intention to acquire Openjobsmetis	Feb. 02	CF
France’s Groupe Crit Completes Due Diligence for Planned Stake Acquisition in Italy’s Openjobmetis	Feb. 01	MT
Futures bullish; focus remains on Davos	Jan. 18	AN
Stock markets down as dollar rises; luxury goods hurt	Jan. 17	AN
Indices down; Italian inflation at 5.7 percent in 2023	Jan. 16	AN
Stock markets in the red in Europe; Mib above 30,100 threshold	Jan. 16	AN
Openjobmetis acquires 100 percent of Just On Business and Deine Group	Jan. 15	AN
Openjobmetis S.p.A. completed the acquisition of JOB Just On Business s.p.a from Torrent S.P.A and 1845 SRL.	Jan. 14	CI
CFO of Openjobmetis sells 1,000 ordinary shares	Jan. 10	AN
Mib at parity; confidence in Italy improves	Dec. 22	AN
Indices down slightly; Brent rises above USD80	Dec. 22	AN
Futures down; traders cautious ahead of US PCE	Dec. 22	AN
CAC40: marginal decline in low volumes	Dec. 21	CF
Mib down before busy macro day	Dec. 21	AN
CAC40: trapped for 5 sessions in a 7,540/7,600-pt channel	Dec. 21	CF
CAC40: further fall in interest rates preserves 7,550 level	Dec. 21	CF

Openjobmetis S.p.A.

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Openjobmetis S p A : 2023 Results Conference Call - 13 March 2024

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