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SD Worx Holding continues strong growth

SD Worx Holding continues strong growth

London, 3 April 2019 – 2018 was a year of growth for SD Worx Holding posting a strong turnover of EUR 594.4 million, a raise of 33% compared with 2017 when the turnover was EUR 446.3 million. EBITDA climbed from EUR 51.9 million in 2017 to EUR 65.7 million in 2018.

In the consolidated turnover of EUR 594.4 million, SD Worx Group, the leading provider in Payroll and HR services, saw its revenue increase from almost EUR 443 million in 2017 to EUR 466.7 million in 2018. EBITDA rose from EUR 55.2 million in 2017 to EUR 61.4 in 2018. SD Worx Group remains focused on growth in the domestic and international markets in 2019, while solidifying its market leadership position in Europe. Commitment to investments in new technologies for customers and within its own organisation remain a priority, while continuing to explore new partnerships and market opportunities.

Prioritisation of customers, international growth and commitment to digital developments

"In our organisation, people are at the heart of everything. It is thanks to them that we can continue to grow. This is why I would like to thank our employees for the excellent work that they do every day on behalf of our customers. I'd also like to thank our customers for the trust they place in our services, and our partners for their fantastic collaboration. Last year, we received an international Customer Experience award in recognition of our efforts regarding customer orientation. While we are extremely proud of this, we are not complacent. We will continue to listen closely to our customers so that we can provide them with the best possible service," states Steven Van Hoorebeke, CEO of SD Worx Group.

"We also intend to continue our international growth in 2019 in order to benefit from the rapid expansion of the international payroll market. Last but not least, we are taking full advantage of the opportunities offered by digitisation: we are launching new payroll and HR cloud applications for our customers and using robotic process automation to perform repetitive administrative work, thus enabling us to improve our level of quality and service even further. What's more, thanks to the imminent launch of our Digital Assistant we will now be in direct contact with our customers' employees. This will undoubtedly lead to a raft of new opportunities."

Responding to the growing flexible labour market

Following the acquisition of VIO Interim and Flexpoint Group last year, SD Worx Holding is now active in the fast growing flexible labour market as well. In addition to payroll and HR services, the organisation now provides services relating to temp work, secondment, recruitment & selection, career guidance, outplacement and specific payroll for temps.

In the consolidated turnover of EUR 594.4 million for SD Worx Holding, VIO Interim and Flexpoint Group's share totaled EUR 127.7 million, while the EBITDA stood at EUR 6 million. These are not the full annual results, as the acquisitions were only completed in the course of last year. VIO Interim counts for ten months, while Flexpoint Group counts for three months in 2018. Both companies will be integrated into a single entity by mid-2019.

“The flexibilisation of the labour market is in full swing and is responding to company demands to react more quickly, absorb temporary peaks or fill vacancies which would otherwise remain unfilled because of the lack of expertise available. More and more, companies are also diversifying their workforce contracting types, such as using self-employed staff for temporary projects or hiring task based skills. We see lots of opportunities in the growing market for flexible and specialized work”, says CEO Christophe Petit.