News | Arvato | Luxembourg, 08/10/2022

Majorel Publishes First-Half Financials

Majorel has published its financials for the first half of 2022. Revenues increased by 16 percent compared to the same period last year. Majorel also reported continued momentum across all of its business segments, and increased its guidance for the full fiscal year 2022.

Majorel, Bertelsmann and Saham Group’s joint customer experience (CX) company, has announced its preliminary financial results for the first half of 2022. First-half net revenues increased from €842 million in the first six months of 2021 to €976 million in the first half of this year. This corresponds to growth of 16 percent. Adjusted for the effects of divestments and acquisitions and the Covid-19 pandemic, growth on a like-for-like basis was actually 17 percent compared to the previous year. Majorel also reports continued momentum across all of its business segments: net sales increased by 35 percent in the GEMS (Global English, Middle East and Southeast Asia) region, by 26 percent in CEA (China and East Asia), and by ten percent in EASA (Europe, Africa and South America). Operating EBITDA for the first half of the year was €175 million, compared to €153 million in the first six months of 2021.

Majorel also reported that the implementation of its strategy has been a success. This included geographic expansion into nine additional countries, the acquisition of new customers and the expansion of business with existing customers, the expansion of the partnership with Booking.com, and the acquisition of IST Networks, a leading customer experience (CX) tech specialist in the Middle East, as well as the completion of the acquisition of the service providers Mayen and Alembo. On June 20, Majorel and Sitel Group and their major shareholders, including Bertelsmann, had agreed non-binding key terms for the planned merger of the two companies to form one of the global leaders in the CX industry.

Guidance for 2022 increased

Commenting on the preliminary results, Majorel Group CEO Thomas Mackenbrock said: “Majorel’s performance in the first half of 2022 was strong, and we have increased our full-year guidance for net revenue to between 1.9 and 2.0 billion euros. By systematically focusing on executing our proven strategy, we entered nine new countries, expanded our workforce to more than 78,000 team members, and completed two acquisitions in H1. We also announced our agreement on key terms for a potential merger with Sitel, which would transform two high-profile CX groups into a global industry leader. We will continue to build on our success to deliver positive outcomes for our clients, our people, our shareholders and the local communities where we operate.”

Please refer to the attached press release from Majorel for details.