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Press release: ProData Consult increases earnings and hits new milestone

ProData Consult made progress and delivered its highest-ever Group revenue and earnings in 2019, driven by a continued focus on strengthening processes and systems as a base for further international expansion.

 

11 March 2020

 

In 2019, ProData Consult grew revenue by 7% to DKK 1,022 million and increased earnings (EBITDA) to DKK 80 million, corresponding to an EBITDA margin of 7.8%. The positive development can be attributed to solid results across the Group's key markets.

 

"We are pleased with our result for 2019. We have strengthened our position as one of the leading consultancies in Northern Europe within the delivery of high-end IT and business consulting services on a time and material basis. Simultaneously, we have made significant progress in our 'Nearshoring as a Service' solution, which grants our clients access to Polish IT specialists. Lastly, we have gained ground in our other markets and geared our business for additional growth," says Søren Rode, CEO of ProData Consult.

 

Over the last year, the Group has invested significantly in building a more robust and scalable business to accelerate growth - both organically and through acquisitions. With the acquisition of Sourcing Network in late 2019 and takeover in early 2020, the Group now holds an even stronger position in the Nordic market for high-end IT and business consulting services on a time and material basis.

 

"The culmination of an excellent 2019 was our acquisition of Sourcing Network in Sweden. It has been a strategic objective for us to take a leading position in the Swedish market. Together with our new Swedish colleagues, this is now a reality," Søren Rode explains.

 

With a strong finish in 2019, ProData Consult expects further growth and international expansion in 2020, with revenue expected to grow more than 25%, and with a boost in earnings of over 20%.

 

"It has been a milestone for us to hit the billion mark. But we are already looking ahead, and we are facing an exciting 2020. Our goal is to continue generating organic growth in our key markets, but we also have our sights on potential acquisition candidates," says Søren Rode.

 

However, the main focus will continue to be on delivering quality service to both clients and consultants, since this is the foundation for the Group’s continued success and development.

 

"Our client satisfaction, which we measure meticulously, has never been higher. And that is what it is all about. Our strengthened position and the synergies across our markets enable us to offer our clients a complete service. At the same time, it opens up for a wide range of opportunities and exciting projects for our consultants," Søren Rode concludes.

 

Key figures, ProData Consult Group

 

DKK Million 2019* 2018 2017 2016 2015
Revenue 1,022 957 910 693 463
Gross Profit 148 127 110 96 73
EBITDA 80 64 44 50 37
EBIT 55 51 31 40 33
Net Income 41 38 22 29 25
 
Gross Margin 14.5% 13.3% 12.0% 13.9% 15.8%
EBITDA Margin 7.8% 6.7% 4.8% 6.1% 8.0%
Number of employees, avg. 141 118 127 110 77

 

Find the annual report here. 

 

*Figures for 2019 comprise the effect of the interpretation of accounting standard IFRS 16 Leases.

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