Teleperformance (TEP) AGM 2025 summary

Opening remarks and agenda

• Record net cash flow exceeded EUR 10 billion, with successful Majorel integration and EUR 94 million in synergies realized in 2024, targeting EUR 150 million over several years.

• Meeting opened with legal formalities and agenda covering financial review, governance, sustainability, remuneration, and voting on resolutions.

Financial performance review

• Revenue surpassed EUR 10 billion for the first time, with a 10% increase in net adjusted result and 20% EBITDA growth in 2024.

• 2024 objectives achieved with pro forma revenue growth of +2.6% and EBITA margin up to 15.0%.

• Net free cash flow reached EUR 1.1 billion, supported by strong activity, Majorel integration, and investment control.

• Adjusted net income rose by 10.2% year-on-year; temporary increase in tax rate due to Majorel integration.

• Maintained a BBB rating from S&P, the best in the sector, with easy access to financing and a net debt/EBITDA ratio below 2.19.

Board and executive committee updates

• Separated roles of President and CEO; Moulay Hafid Elalamy became President, Daniel Julien remained CEO, and Thomas Mackenbrock was appointed Deputy CEO.

• Board now has 14 members, 75% independent, gender parity, and nine nationalities.

• Succession plan and board expertise in AI and international business strengthened.

• Board and committee attendance rates were 98% and 97% respectively in 2024.