SQLI returns to growth in H1 2021

The European digital services group SQLI announces today its consolidated revenue for the first half of 2021*.

Thanks to a strong rebound in activity in France in Q2 and a continued international momentum, the group posted a revenue growth at the end of June above its plan.

The Group posted consolidated revenue of €58.0m in Q2 2021, up +13% from the previous year. This performance brought consolidated revenue from H1 2021 to €114.3m, compared to €110.2m in H1 2020, an increase of +4%. At constant consolidation scope and exchange rates, the change stood at +2%.


Continued international organic growth

SQLI's international business increased by +6% in Q2 2021 and by +7% in H1 2021 (+5% at constant scope and rates), totalling €53.6m and 47% of the Group's consolidated revenue (+2 points compared to H1 2020).

Q2 performance was purely organic as SQLI completed in March 2020 its latest external growth operation, the acquisition of Redbox Digital, an e-commerce agency located in the UK and the Middle East.

This growth is even more noticeable outside France, as the Group had recorded in H1 2020 a +6% organic growth, despite the start of the health crisis. All countries but Germany recorded growth in the first six months of 2021.

Strong rebound in activity in France

In France, the market where the health crisis has had the biggest negative impact on the Group, activity rebounded by +19% in Q2 2021.

While the level of activity is broadly in line with the Group's expectations in Paris, the rebound is significant in the regions, where SQLI has been able to redeploy its consultants on new projects.

Confirmation of profitable growth targets

This revenue momentum was made possible by a stabilisation of staff (around 2,000 employees at the end of June 2021) and an improvement in the employment rate to 84%in the first half of 2021.

As a result of this strong start to the year, SQLI now aims to generate consolidated revenue growth for the full year (and not just in the 2nd half of 2021 alone) and confirms its target of a 2-point increase in the annual consolidated operating margin.

SQLI will publish its 2021 half-year results on 23 September 2021 after the close of trading.

*Estimated unaudited data