Majorel Q1 revenue up as global internet deals offset loss of COVID contracts (updated)

Bertelsmann SE & Co KGaA

03/05/2023 08:08

(Adds context)
       May 3 (Reuters) - Luxembourg-based outsourcing company
Majorel  MAJ.AS  posted a quarterly rise in revenue, driven by
global internet clients, particularly in the U.S., Philippines
and Malaysia, the group said on Wednesday.
    Revenues rose 11% to 541 million euros ($595.91 million) in
the quarter ending March.
    Majorel, which employs more than 82,000 customer service
workers worldwide, indicated that the loss of contracts acquired
during the COVID-19 pandemic was partially offset by
acquisitions made in 2022, including Alembo, Findasense, and
IST.
    COVID-related contracts accounted for 26 million euros in
revenue a year ago.
    The firm, created in 2019 following the merger of
Bertelsmann's  BTGGg.F  and Saham Groupe's customer service
branches, received last Wednseday a 3 billion euro takeover
offer from rival Teleperformance  TEPRF.PA .
    The two major investors have already signed irrevocable
tender contracts, in what Midcap called "a virtuous deal firstly
for Majorel's minority shareholders". 
    "With this proposed transaction, we are taking a quantum
leap," Majorel's chief executive Thomas Mackenbrock had said
after the announcement. 
    Majorel shares were little changed in early trade.

($1 = 0.9079 euros)

 (Reporting by Victor Goury-Laffont and Alessandro Parodi,
Editing by Louise Heavens)
 ((Victor.Goury-Laffont@thomsonreuters.com;))