SEC Newgate Greater China "ahead of expectations"
Yesterday, 10 August 2022, SEC Newgate SPA announced its Interim Results for the six months ended 30 June 2022. As the team at SEC Newgate continues to implement its transformational, strategic plan, all key indicators are positive and significantly ahead of HY21:
- Turnover up 84% at €61.58m
- EBITDA up 127% at €10m
- Profit before Tax up 208% at over €6m
The interim results incorporate, amongst other recent transactions, the contribution from Global Strategy Group (‘GSG’), the leading US polling and communications agency which became part of SEC Newgate from April 2022. The Group’s performance was very positive with total revenues of €61.58m, Gross Profit of €48.27m, EBITDA* of €9.91m and PBT* of €6.25m.
On a “like for like” basis (excluding the contribution from GSG), the results and all KPIs show a significant improvement over the comparable prior year period. Turnover increased by 29% to €46.78m, Gross Profit was up 22% to €37.19m, EBITDA* was 25% ahead at €6.09m and PBT* was €3.07m, a 33% increase over the 2021 interim results.
From a geographic perspective, the period recorded some very positive performances from the US, UK, Italy, France and Colombia as well as performances ahead of expectations by other operations, such as Greater China, Spain, and Middle East.
Attracting and retaining the very best talent is core to SEC Newgate’s success. In the first half of the year, the Group was pleased to increase its team to 906 employees globally, an increase of 297 people compared to the prior year period, of whom 157 joined the Group with GSG.
Despite the very troubling events around the world, we are confident about continuing to build our business by working seamlessly whether locally, nationally or internationally.
(* Due to the extraordinary nature of advisory costs related to delisting, buy back of shares and the transaction with GSG during this first part of the year, all figures referred to are adjusted values to provide comparable data.)