2CRSi presents its consolidated and audited earnings for the 2019-20 period and confirms.
The big picture
• Pro forma figures over 12 months: revenue of €141.1m, EBITDA of €3.8m and net income Group share of €(0.8)m
• Pro forma revenue growth of +18% in Q1 2020-21 confirmed
• Targets for FY 2020-21 reiterated:
- • Robust revenue growth, expected at €170-200m
- • Improved level of profitability
As a reminder, the Group had been unable to issue its definitive accounts on that date, due to the unprecedented impact of the COVID-19 crisis, which severely impeded the first-time consolidation of Boston Limited's accounts, the company having been integrated for the first time. The Board of Directors met on July 29, 2020 to approve the Group's financial statements for the fiscal year ended February 29, 2020. The consolidated financial statements have been audited and the auditors' report certifying the financial statements is currently being prepared. Note that, in this particular instance, the period lasted 14 months (January 1, 2019 to February 29, 2020), the end of its fiscal year having been set to end-February to align with that of Boston Limited and present its activities in a manner that is more consistent with the seasonal nature of its business, which is traditionally strong over the final months of the year.