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1. YOU MUST HAVE A DREAM THAT’S
WORTH MORE THAN YOUR SLEEP.
ACTIVITIESREPORT2014
copyrights BeMore Holding 2015

2. TABLE OF CONTENT
Annual Report 2014
Letter from our CEO
Key figures
The HR Indsutry (market trends)
Our vision
Our results (financial review)
Board members & General management
Our brands
Bemore Group
Value Job
BeMore
Agrafe
Contact
3
4
6
9
10
11
12
13
14
17
19
20
2

3. Dear Clients, Employees, Partners and Shareholders,
2004-2014: a decade of continued growth for our Group, 6 years of
global and then European financial crisis!
When we founded BeMore on a blank canvas on which our wonderful
project would be outlined, we admittedly were brimming with all of the
confidence of youth, but also pragmatism which comes from experience.
We could not however have imagined that our development would have
to take place against such an unfavourable backdrop. Many thanks
therefore to all of those people who have supported us on this difficult
journey, towards the peak, even if we had to shed blood, sweat and
tears and stop at times to regain our breath. In 2014, we came close
to our target of 100 million francs in turnover, and will in all likelihood
exceed this in 2015 and our Group, your Group is still preparing for
our next ascent.
2015, let’s accept the initial signs, could see the start of a turnaround
in Europe. Our primary professions are directly correlated to the rate of
growth in GDP. Below 1%, a sharp fall in our markets, between 1% and
2% in economic fluctuations, above 2% in growth. Rest assured, whilst
we can have no influence on European economic growth, we are and
shall continue to make every effort to make the most of even the slightest
upturn.
The world is currently undergoing an historic turnaround, which is seeing
the temporary decline? - of Western, and notably European economies,
a rapid rise - for how much longer? - of Asia, the formidable demograph-
ic rise of Africa and, to a lesser extent, South America. Faced with such
changes, companies are doing all they can to reduce their costs, im-
prove their productivity, and become increasingly flexible so as to adapt.
The current trend is seeing our companies in the Old Continent redeploy
their production centres towards companies with low labour costs.
LETTER FROM OUR CEO
It is interesting to note how the US has managed to reinvigorate its econ-
omy at the price of drastic wage cuts. It is doubtful that social tensions
underlying European politics can accept such sacrifices. Monetary pol-
icy measures and the sharp fall of oil prices should support a certain
stimulus, and we shall do all we can to benefit therefrom.
More fundamentally, BeMore Group should continue to adapt to contin-
ue to offer companies more flexibility, productivity, and of course, more
talent. We should continuously invent solutions which meet client require-
ments.
Having started off in Switzerland, BeMore Group is today also present
in France, Spain, Monaco and Dubai. We represent staff in over 15
different countries. This all responds to a single desire: that of always
responding to client needs, wherever they may be. And, in a profession
which only exists through the need for contact between an applicant and
a job, we continuously keep our eyes fixed on the expectations of all
those wishing to progress in life, by making progress in their career. This
is the beauty of our profession.
By helping companies today to remain profitable and create jobs where
we are, we also consider young generations to whom we wish to offer
a future.
Bernard Morel
CEO BeMore Group
3

4. KEY FIGURES
With Sales of 80 million Frs (+ 34%) for 2014, an
Operating Result of 5,3 millions Frs (+ 14%) and a
headcount of 1,200 employees, the BeMore Group
once again demonstrated its capacity to not only per-
form in a difficult environment while also improving
its results, but also to deliver results that were much
stronger than the market. BeMore owes this success
to the quality, motivation and, most importantly, to
the hard work of its employees. Furthermore, the trust
of its clients, banking partners and shareholders is
the indispensable foundation that permits realization
of an ambitious vision.
1200
number of employees
310
permanent staff
14
countries of delegation
24
branches
80
millions of sales 2014
2004
foundation
Annual Report 2014 4
34%
y2y growth

5. To accomplish great things, we
must not only act, but also dream;
not only plan, but also believe.
Anatole France

6. THE H.R. INDUSTRY
Annual Report 2014
• More than one-third of all workers in the world are
contract workers, and most of the companies say their
need for contingent workers will keep growing over the
next three to five years.
• The on-demand workforce offers companies the ability
to tap into extensive networks of innovators, technical
experts, and seasoned professionals. To engage and
retain them, companies should think broadly about
how their HR programs, strategies, and analytics tools
could be applied not only to full-time employees, but
also to contingent and part-time workers.
Today’s workforce is no longer a set of em-
ployees who come into the office or factory
each morning or shift and go home each
night.
Organizations are taking a new approch to talent ma-
nagement, according to a new report by HR consultan-
cy Bersin by Deloitte. Talent Managmeent should be
a holistic and strategic system, rather than a set of
discrete tasks or programs.
What are the main trends that we are facing in our
industry ?
• Companies are taking a more sophisticated ap-
proach to managing all aspects of their workforce,
including the hourly, contingent, and contract
workforce.
6

7. Annual Report 2014
GLOBAL LABOR MARKET BAROMETER SHOWS REBOUND, BUT
STILL SLUGGISH GROWTH
The Global Jobs Index, a new metric introduced by the Economist Intelli-
gence Unit in collaboration with the IMF, is intended to provide a snapshot
of the global labor market. The index measures employment growth data
across 64 countries, which together represent 94% of global GDP and
80% of the global labor force.
The index, which uses Q1 2012 as its base, shows that global employ-
ment has grown 3,4% since the beginning of 2012, and nearly9% form
the labor market’s low point in mid-2009. From these figures, the EIU/IMF
estimate that 84 million jobs worldwide have been created since the start
of 2012, and 208 million since the trough of the recession.
The index also gives some insight into the rate of global job growht,
both before and after the recession. Prior to the downtum, employment
growth worldwide was averaging 2% to 2,5% year-over-year. After a dip
during the recession, the recovery brought job growth back to a 2% yearly
growth range in 2010-2011. However, employment growth has since
eased back to around 1,5%.
Ongoing weaknesesses in EU labor markets, along with the slowdown
in the Chinese economy, are factors in this subdued global employment
picture. It is unclear whether the slower employment growth rate is a new
normal, or just a temporary setback in a long period of recovery.
7

8. Annual Report 2014
STAFFING INDUSTRY IN SWITZERLAND
More and more employees are engaged in temporary
jobs in Switzerland, according to a report that says that
demand for such interim work has been growing at an-
nual rate of almost ten percent for the past 20 years.
Around 300,000 workers were hired last year under
contracts fixed for a limited period of time, Swissstaffing,
an employers’ association that represents temporary staf-
fing companies said.
The temporary staffing industry in Switzerland reported a
turnover of 6.5 billion francs last year, up from 5.2 bil-
lion francs in 2010, an increase of more than 21 percent.
In 2014, 69 percent of such employees had high profes-
sional qualifications.
Around 31 percent were engaged as auxiliary staff. A
high number of temporary workers are young, with 27
percent under the age of 26, Swissstaffing said.
Half of temporary workers in the country were Swiss,
while the majority of foreigners came from Germany, Por-
tugal and the Balkans.
STAFFING INDUSTRY IN FRANCE
While the staffing industry in general shows a high de-
gree of fragmentation, the French market is significantly
concentrated: the three major players hold a total market
share of around 55%. Adecco is the market leader in
France, with a market share of about 22%.
The weak economic backdrop in France led to zero
growth in the French staffing market in 2014 compared
to a 7% decline in 2013.
8

9. Annual Report 2014
OUR VISION
Success starts with a great vision.
The vision that breathed life into BeMore and
which underlies its growth strategy is simple in
its formulation, ambitious in its objectives, and
shared by all employees of the Group.
This vision allows us, on a daily basis, to orient
all activities and fuel constant efforts to make
progress and improve quality. Like a needle on
a compass, it refocuses individual initiatives on
a common objective without allowing the team
to veer from its progression.
To offer companies the best talents and
the best solutions to manage their Hu-
man Resources.
To offer our employees the best career
opportunities.
9

10. Annual Report 2014
2014 RESULTS
10
Continued growth in ac-
tivities and profits of the
Group despite a persistent
economic crisis in Europe.
Consolidated Group turn-
over of CHF 80 millions
(+34%).
Gross profit margin
of CHF 16,3 millions
(+14%).
EBITDA of CHF 5,3 mil-
lions (+13,5%).
The development of Human Resource services markets in which our Group operates is closely correlated to the level of economic
growth. The fundamentals were therefore once more poor in 2014, with the economic crisis continuing in Europe for the sixth
consecutive year. In this rather unfavourable context, which saw the Temporary Labour Market continue to fall sharply in France
and significantly in Switzerland, we managed to record organic growth of 34%. Despite a high level of competition, we never-
theless stabilised our Gross Profit Margins at a high rate of 20,8%, up by more than two millions of swiss francs. Strict cost con-
trol measures - all the more noteworthy due to the consolidation of our teams in the field - allowed us to record growth in EBITDA
of 13,5% to CHF 5,3 millions. In 2014, we also continued with our external growth in a supported manner, with acquisitions
of the Solujob placement agency in Fribourg in Switzerland and the IT service provider M. Planet in Sofia antipolis in France.

11. Annual Report 2014
BOARD MEMBERS & GENERAL MANAGEMENT
BERNARD MOREL
Chairman of the Board and CEO
Former Global President of the Recruitment and e-Business Division of the
Adecco Group.
CHRISTIAN MARS
Vice-Chairman
Business Development director of Nice Matin
CEO of the Monaco Telecom Multimedia
Director of the office at the Conseil Général of Alpes Maritimes
JOSEPH IN ALBON
Board Member
Former CEO and Chairman of Swissport International
JOHN BOWMER
Board Member
Former CEO of the Adecco Group
FRANCOIS VASSARD
Board Member
Former Global Chief Marketing Officer of the Adecco Group
JEAN-PIERRE BUTTET
Board Member
Founder and CEO of SmartData
CLAUDE FRIEDERICH
Board Secretary
DANIEL JACCOUD
CFO
Former CFO of Adecco Switzerland
PHILIPPE GALLAZ
Director of BeMore Switzerland, Unites Arab Emirates, UK, Spain
Former Founder and GM of e-Business SA
LAURENT GIVEL
Director of Staffing Operations Switzerland
Former Director Suisse romande at Kelly Services
NICOLAS NERVI
Head of Marketing
Former EMEA Marketing Manager at Kelly Services
DENIS GENDARME
Director of Staffing Operations France
VERONIQUE BOURON
Director of BeMore France
The board members and the general management team
bring together broad experience, national and internatio-
nal networks, and unique expertise in Human Resources
services. This clearly constitutes a strength for the growth
strategy of the Group.
11

12. Annual Report 2014
OUR BRANDS
BeMore Group is a diversified international holding company
active in the HR and IT industry. We provide efficient solutions to
companies thanks to our individual brands.
• BeMore: global IT solutions
• Value Job: general staffing
• Agrafe: specialized staffing difficult access work
• Exceed EMEA: executive search
• M-Planet: IT delegation
• Solujob: general staffing
• Compliance Company: IT delegation
• Aria formation: training and education
The brand strategy of the BeMore group aim to regroup the
brands into three main leading names within the end of 2015:
• BeMore
• Value Job
• Agrafe
TRAVAUX D’ACCES DIFFICILES
12

13. BEMORE GROUP
Annual Report 2014
The Group is organized into two large domains of activity:
• On one hand, the activities of fixed and temporary place-
ment in general and specialized areas
• On the other hand, recruitment, delegation, project man-
agement and consulting, particularly in the fields of IT and
Engineering.
BeMore Management and Consulting provides the Group with
various services of general management (Administration, Finance,
Marketing...) Each domain is present and active in France, Mo-
naco and Switzerland, with an office in London and two recent
openings in Dubai and Madrid.
The activities of fixed and temporary placement operate under the
ValJob, Solujob and Agrafe brands, and the activities of delega-
tion/recruitment/projects operate under the BeMore brand.
In 2014, Sales for the Group were distributed at around half in
France and half in Switzerland.
HR Consulting
Outsourcing
Integrated
HR solutions
Professional
delegation
General &
specialized staffing
TRAVAUX D’ACCES DIFFICILES
13

14. Annual Report 2014
VALUE JOB
Value Job, known under its brand ValJob, is an international com-
pany that has been active for nearly 20 years in placement and in
Human Resources services. With more than ten agencies in Switzer-
land and France, ValJob is a leading company that is recognized
and appreciated for its quality and local culture. The difference?
Within an entrepreneurial structure that is agile and flexible, ValJob
employees know their region well and support companies in re-
spect of the local culture.
Valjob mission is to help companies achieve their growth objectives
by providing talent and high level solutions in the following areas
of specialization:
Industry Construction
Watch
making
Office
Valjob is a partner of the SAWI group (sawi.com) – this strategic
collaboration offers students and graduates a concrete preparation
to help them pursue real professional opportunities. With this exclu-
sive partnership, Valjob can offer to local companies the best talents
in marketing, communication and sales.
www.sawi.com
OUR BRANCHES
• Sion
• Visp
• Monthey
• Lausanne Industry
• Lausanne Office
• Geneva Industry & watch-making
the performance of Valjob was consolidated by acquisition of the
Solujob agency in Freiburg, which is today a leading agency well
positioned with clients having strong potential in development across
the whole of Switzerland. In respect of existing situations, SoluJob
will be renamed ValJob in due course.
14
• Geneva Office
• Biel
• Neuchâtel
• Baden
• Fribourg (solujob)
• Lyon

15. SHIFT TO HIGHER MARGIN BUSINESS AND REBALANCE THE RISKS
During all 2014, important operational efforts have been realized in order to shift
from a low to a higher margin business and reduce the risks of being dependant
of the construction field. Value Job did a significant transition focusing on industries
such as watch-making, office, marketing and specialized industries. Furthermore,
branches efficiency has been one of the main target in 2014.
Marketing efforts were supporting this business shift and worked on repositioning
the brand - historically known as a specialist in the construction field - and today
also recognized on the market as a player in specialized industries and office
areas.
Facebook
Linkedin
Instagram
Google+
Twitter
WE ARE ACTIVE ON THE
FOLLOWING SOCIAL MEDIAS

16. VALUE JOB IS OFFICIAL SPONSOR OF MIKE AIGROZ
Mike Aigroz is a swiss professional Ironman triathlete.
In 2011, he reached an amazing 6th place at the Ironman
world championship in Hawaï, finishing the 3.9 swim, 180
km bike and 42.5 km run in less than 9 hours.
mikeaigroz.ch
facebook.com/mikeaigroz

17. Annual Report 2014
BEMORE
In Switzerland and in France, BeMore Ressources and BeMore
Solutions are the companies of the Group specialized in Hu-
man Resources principally for Information Systems and Engi-
neering. From their agencies in France (Sophia Antipolis, Lyon,
Paris), and Switzerland (Geneva, Lausanne), they provide their
clients with effective responses thanks to teams of consultants
specialized in recruitment, delegation, project management
and consulting.
Two new offices were opened in 2014 in Dubai and Madrid
to assist certain international clients. In order to support its fast
business development, BeMore Management has been creat-
ed in Monaco with the will to be the central platform for all
activities in France.
Today, business continuity depends on optimized business pro-
cesses and effective IT infrastructures. Thus, on a daily basis, IT
departments are confronted with new demands for operations
and increasing complexity, without overlooking challenges re-
lated to security, which have become critical. To respond to
the various needs of companies, BeMore proposes consulting
and services to assist, plan, implement, secure, manage and
optimize the IT environment.
BEMORE SERVICES
• Recruitment
• Consulting
• Sales
• Outsourcing
• Technical support
BEMORE IS OFFICIAL BUSINESS PARTNER OF:
BEMORE HAS A PRESENCE IN:
• Switzerland
• France
• Spain
• UK
• Monaco
• Dubai
17

18. Annual Report 2014
M-PLANET, A STRATEGIC ACQUISITION
With this acquisition BeMore becomes one of the most impor-
tant ESN Company of the French Riviera.
BeMore group has significantly expanded its French presence
, opening offices in Lyon, Paris and Toulouse . With this new
acquisition in the technology , it becomes one of the most im-
portant companies in digital services French Riviera with 200
engineers and employees a consolidated turnover of nearly 20
million. Among the customers of the new entity : Amadeus , the
various entities of Crédit Agricole in France ( CATEC , CASA
, CAAGIS , SILCA , ) , HSBC , UBS, grouping Covea insurers
Pro BTP Vinci Energie helicopter Airbus , Orange, Questel ,
Lazersymag , etc ...
2008 2009 2010 2011 2012 2013 2014
5
15
27
60
73
92
105
M-PLANET
STAFFING EVOLUTION
SOME REFERENCES
18

19. Annual Report 2014
AGRAFE
Since 1999, Agrafe has dispatched its technicians in France
and abroad, thereby responding to the different needs of com-
panies that work in urban, industrial or nuclear environments or
in public works.
Agrafe is also very present in the sector of renewable ener-
gies, solar heating, production with solar technology or wind
turbines.
Relying on proven experience entirely dedicated to controlling
the risks related to falls from heights, Agrafe has acquired a
reputation without which it could not be an effective partner to
companies with regard to safety and work at heights.
Its expertise and flexibility permit it to assist its clients with the
management of their human resources for both temporary as-
signments and permanent contracts. The Agrafe network of
technicians trained in the rules of working at heights are able
to adapt perfectly to each of the working conditions imposed
by multiple worksites. This rigorous management is the quality
signature of the company.
AGRAFE AREAS OF EXPERTISE
Wind energy
Civil Engineering and Public Construction
Urban and public works
Industry
Photovoltaic and solar
19

20. Annual Report 2014
CONTACT
BEMORE HOLDING S.A.
Rue du Puits-Godet 8
2000 Neuchâtel, Switzerland
Tel. +41 (0)21 804 18 00
Fax +41 (0)21 804 18 09
E-mail communication@bemore.com
Web www.bemore.com
Contact Nicolas Nervi
Head of Marketing & Communication
nicolas.nervi@bemore.com
BeMore on the web
WEBSITES
bemore.com
bemore.ch
bemore.fr
valuejob.ch
valuejob.fr
agrafe.fr
agrafe-suisse.fr
exceed-emea.com
m-planet.fr
solujob.ch
FACEBOOK
facebook.com/valuejob
facebook.com/bemoreit
LINKEDIN
bemoreholding
bemore
valuejob
TWITTER
bemoreholding
valjob
20

21. DREAM,
BELIEVE,
DO,
REPEAT.
Annual Report 2014

22. BEMORE HOLDING S.A.
Rue du Puits-Godet 8
2000 Neuchâtel, Switzerland
Tel. +41 (0)21 804 18 00
Fax +41 (0)21 804 18 09
E-mail: communication@bemore.com
Web: www.bemore.comANNUAL REPORT 2014
all rights reserved to BeMore Holding