Devoteam achieved revenue of €760.4 million and operating margin of €73.7 million in 2020

09 March 2021

– Revenue decreased by -0.2% in 2020, of which -0.6% organically

– Operating margin decreased to 9.7%

– Group share of net income at €40.8 million compared to €41.6 million last year

FY 2020 consolidated financial statements are available on our website:

https://www.devoteam.com/investors/financial-information/

Results for the full year 2020

Revenue reached €760.4 million for the full year 2020, decreasing -0.2% compared to 2019 and -0.6% at constant scope and exchange rates.

Changes in scope had a positive impact of 1 point of growth while variations in exchange rates had a negative impact of -0.6 point of growth. The working day impact over the year was favorable representing around 0.6 point of growth.

In the fourth quarter the Group achieved sales of €198.3 million, down -4.0% compared to the previous year and -4.9% at constant scope and exchange rates, a stronger decrease than the previous quarters. The continued effects of the COVID-19 crisis have been compounded by the acceleration of the loss of activity in Germany.

The operating margin stood at €73.7 million and 9.7% of the revenue in 2020.

The pressure on prices in 2020 had an effect on the Group performance leading to a decrease of -2% of our average daily price compared to 2019.

The operating income amounted to €71.9 million, including restructuring costs of €1.7 million, mainly in Germany, France and Spain.

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