The trends described below do not constitute forecasts or profit estimates as defined by modified European Regulation no. 809/2004 of April 29, 2004 used in application of directive 2003/71/00 of the European Parliament and Council of November 4, 2003.
The Groupe’s transformation has enabled it to cope with the crisis in 2020. It also allows it to be well positioned to help its clients win in a world of platforms and thus to perform well in the industry.
But the crisis did not end with the year 2020, and the uncertainty caused by the virus will continue to dominate daily life.
The current context does not allow the Groupe to provide indications at the moment on annual organic growth for 2021. Given a relatively high comparison basis, the Groupe anticipates a negative first quarter. The second quarter should return to growth, driven by a favorable base.
As for the operating margin rate, the Groupe anticipates that it could improve by up to 50 basis points in 2021. The Groupe will continue its discipline on costs. This will enable it, combined with its country organization, to adapt to developments in the situation, as was the case in 2020, and thus invest in its talent.
The free cash flow before change in working capital requirements is expected to be around euro 1.2 billion in 2021, thus contributing to the Groupe’s deleveraging.
The Groupe will update its indications when there is greater visibility on the development of the health situation in July.
