Tessi, a global provider of Business Process Services, posted Q4 2019 turnover of €116.2 million, down slightly from Q4 2018 (-1.7% growth at constant consolidation scope, excluding Tessi Austria in 2018 and Orone in 2019). The good performance in France did not fully offset the impact in Spain of a difficult economic environment within a local context of mergers in the banking and property sectors.
2019 turnover amounted to €452.0m, representing growth of 5,6% that includes a consolidation scope effect related to the contribution of the company Owliance, acquired on 30 June 2018. At constant consolidation scope (excluding Owliance in H1 2019, Orone over 4 months in 2019 and Tessi Austria in 2018), turnover was up 1.3%.
Outlook
Tessi intends to pursue its growth trajectory in 2020 with its businesses well positioned overall, and a specific action plan in the process of being implemented in Spain. The Group will also benefit in particular from the contribution to turnover from 1 January of customer relations specialist ADM Value, acquired in December, with 2019 revenues in the region of €50m. The initial impact and market response to this merger is promising.
