For this 3rd quarter, Open Group has recorded a 2.2% decrease in its turnover, which amounts to €68.6 million. Over the course of the first nine months of 2020, the decline recorded was 4.4%, for a turnover of €216.5 million. This decrease is due to a reduction in the occupancy rate and the productive internal workforce (3,150 employees at the end of September 2020, compared with 3,250 at the end of December 2019).

Takeover Bid

On 6 October 2020, the founders of Open Group, in association with a fund managed by Montefiore Investment, submitted a takeover bid to the French Financial Markets Authority to purchase the shares in Open Group at €15 per share, in order to further the transformation of the company. The initiator’s draft information memo and the draft response of the company, which contains the independent expert’s complete report, are here.

Outlook

In a context that remains uncertain, for 2020, Open Group has confirmed the expected reduction of approximately 5% in turnover, and an operating profit of around 4%.

2020 third quarter turnover

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