Majorel Reports Double-Digit Performance in FY 2022
2022 was a successful business year for the customer experience company Majorel, as revealed by the financials it presented yesterday. Group revenue increased by 16 percent to €2.1 billion and net revenue by 19 percent to €2.08 billion. The group’s operating EBITDA margin reached 17.8 percent and net profit was €170 million.
The preliminary financials presented in February (see BENET report) already hinted at it, and the final results published yesterday confirm the expectations expressed nearly three weeks ago: 2022 was a year of “excellent results” for Majorel, the joint customer experience company of Bertelsmann and Saham Group, according to its CEO Thomas Mackenbrock.
The listed service company with around 82,000 employees saw strong revenue growth last year. Group revenues grew from €1.811 billion in 2021 to €2.1 billion in 2022, an increase of around 16 percent. Net revenue, which includes certain external expenses, rose from €1.752 billion to €2.08 billion - a nearly 19-percent increase. Taking into account effects from acquisitions and mergers, as well as from the Corona pandemic, year-on-year growth in net revenue was also 19 percent. Operating EBITDA in 2022 was €369 million, around 18 percent higher than the previous year’s figure of €313 million. The operating EBITDA margin was 17.8 percent, compared with 17.9 percent in 2021. Majorel reported net profit of €170 million (2021: €80 million). Looking ahead, the company expects its net revenue to increase to between €2.15 billion and €2.25 billion, i.e., net revenue growth of six to eleven percent. For the current year, Majorel expects an operating EBITDA margin of between 16.5 and 17 percent.
More than 60 contracts concluded with new customers
“In a complex and evolving market environment, Majorel has delivered excellent results in 2022 by remaining resourceful, agile and reliable for our clients,” commented Majorel CEO Thomas Mackenbrock. “In 2022, we welcomed more than 13,000 new team members, added 13 new countries to our global footprint, grew with existing clients, won more than 60 new logos, and completed several strategic bolt-on acquisitions. In 2022, we have delivered, every quarter, year-over-year double-digit growth, and made strong progress on the core pillars of our strategy: expanding geographically, and growing with clients and through M&A.
Looking ahead, we expect shifting client needs, some softness in demand and continued inflation due to the challenging and more volatile environment. However, we remain confident that Majorel’s relentless drive to go further, our operational expertise and our capability in developing deep, long-term relationships with our clients will be the basis for our continuing success.”
For further details, please refer to the press release, which is attached as a PDF file.