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ApplusⓇ Applus Services , S.A. ( " Applus + " or " the Group " ) , the global testing , inspection and certification company , today announces the results for the first quarter ( quarter " ) ended 31 March 2021 . 2021 First Quarter Results Announcement 10 May 2021 Highlights Encouraging start to the year with Auto and Labs recovered to pre - COVID - 19 levels Some business lines within E & I and IDIADA performing well , partly offsetting the continued impact from COVID - 19 Margin on good recovery path ● ● Acquisitions in 2020 significantly accretive to financial performance and portfolio evolution Leverage and liquidity are comfortably supporting the growth strategy Reiterate the outlook Q1 financial results O Revenue of € 402.1 million , down 3.5 % ( organic¹ -6.8 % ) o o o Adjusted free cash flow² of € 13.1 million , down 55.6 % O Net debt / EBITDA³ ratio 2.9x and liquidity of € 530 million Operating profit² of € 35.1 million up 26.7 % ( organic¹ + 20.5 % ) Operating profit2 margin of 8.7 % , up from 6.6 % 1. Organic is at constant exchange rates 2. Adjusted for Other Results and amortisation of acquisition intangibles ( see page 4 ) Excluding IFRS 16 3 . Fernando Basabe , Chief Executive Officer of Applus + , said : " We have had a good start to the year with two of our four divisions already recovered to pre - COVID - 19 levels and encouraging trends in the other two divisions that were more affected by COVID - 19 challenges . It's been good to see this recovery of the revenue , especially in the two higher margin divisions , translate into a solid increase in the Group margin . The business became severely impacted from the middle of March last year and all through the second quarter , so we expect a strong year on year rebound in this current quarter with a marked sequential improvement on the first quarter . We also expect , if exchange rates remain close to where they currently are , the negative currency impact in the first quarter to reduce substantially over the remainder of the year .