| €m | 2021 | 20201 | Change | Change (proforma)2 |
| Q1 turnover | 115.7 | 108.3 | +6.8% | +5.9% |
| Q2 turnover | 119.2 | 91.6 | +30.2% | +28.5% |
| H1 total | 234.9 | 199.9 | +17.5% | +16.3% |
1 2020 data excludes the Spanish businesses sold in January 2021 (see 8 January 2021 press release).
2 Calculated by including turnover generated by Proformation in 2020 before its consolidation in the Group from Q1 2021 (see 9 March 2021 press release).
Tessi, a global provider of Business Process Services, posted H1 2021 turnover of €234.9 million.
On a proforma basis2, turnover was up 16.3%, bolstered by thriving business and a favourable comparison with the previous year, particularly in the second quarter, due to the impact of lockdown from mid-March 2020 onwards.
Guidance and ongoing public buyout offer
The first half has confirmed the Group’s roadmap aimed at pursuing the company’s development.
As announced earlier, following the purchase of Tessi shares via block trades as a result of which Pixel Holding now holds 97.4% of the share capital and 96.9% of the voting rights, on 3 June 2021 Pixel Holding announced its intention to file a public buyout offer with the French Financial Markets Authority (AMF) to be followed by a squeeze-out of Tessi’s shares at a price of €172 per share (2020 exceptional dividend rights attached). As the exceptional 2020 dividend of €3.40 per share was paid out on 28 June 2021, the actual offer price is €168.60 per share on an ex-dividend basis.
Everything is going according to plan and the transaction is due to be closed in Q4 2021.
Next release
H1 2021 results, 14 September 2021 after market close.
