Within the consolidated turnover of EUR 767.6 million, SD Worx People Solutions – which today provides payroll and HR services to more than 65,000 clients in Europe – saw its turnover increase, mostly organically, from almost EUR 466.7 million in 2018 to EUR 505.1 million in 2019. Normalised EBITDA grew from EUR 63.9 million¹ in 2018 to EUR 77.6 million in 2019.
“SD Worx People Solutions has the ambition to become Europe’s number one player by 2023 with a strategy based on customer centricity, innovation and an offering of solutions to manage the entire HR lifecycle”, says Kobe Verdonck, CEO of SD Worx People Solutions. “We won’t get there with organic growth alone, so we are constantly looking for acquisitions that strengthen us, both in terms of geographical presence and solutions for our customers”.
SD Worx Staffing & Career Solutions focuses on the market for flexible work, and provides services relating to temp work, secondment, recruitment & selection, career guidance, outplacement and specific payroll for temps. The entity achieved a turnover of EUR 264.1 million and an EBITDA of EUR 8.4 million in 2019, representing strong inorganic growth compared to the previous year, as this segment was only acquired in the course of 2018 and has now for the first time been consolidated for a full year.
"In 2019 SD Worx Staffing & Career Solutions has taken important steps with the launch of the SD Worx Staffing Solutions brand and the integration of Vio and Flexpoint," says Christophe Petit, CEO SD Worx Staffing Solutions. “In Belgium, these integration efforts led to a significant improvement in our cost structure, although it was a difficult year in terms of revenues as a consequence of the current market conditions. In the Netherlands, contrary to the market trend, we did manage to increase revenues, although this required suitable investments in our office network.”
More information can be found on the page for investor relations.
