INTERNATIONALEXPANSION DRIVES REVENUE GROWTH
Dublin, Thursday, 28 July 2016: Actavo, a leading international engineering solutions company headquartered in Dublin and operating in 100+ locations, has today detailed its annual results for the year ending 31 December 2015.
- Revenues of €431m (compared to €324m for year ended 31 Dec 2014) – up 33%
- Profit before tax of €17.9m (compared to €14.3m for year ended 31 Dec 2014) – up 25%
- 70% of turnover in 2015 derived from international markets
- Global workforce up 2,000, to over 5,000 staff
The company, which has a global workforce of over 5,000, generated revenues of €431m for the period (compared to €324m for year ended 31 December 2014) and profit before tax of €17.9m (compared to €14.3m for year ended 31 December 2014). Approximately 70% of the company’s turnover for year ending 31 December 2015 came from international markets. All profits generated in the year have been reinvested back into the business, positioning the business for future growth.
Commenting on the financial results, Actavo CEO and Chairman, Sean Corkery, said: “We are delighted with Actavo’s strong results for 2015, organically driven across all our divisions over the financial year. We registered significant new business wins, contract renewals, acquisitions and project completions in Europe, Central Asia, Canada, Caribbean and North America. We are continuing with a focus on geographical and sectoral diversification. During 2015, we added capability in specific sectors and locations, acquiring P.D.C. Utility Services Limited, a UK-based tower painting and maintenance firm, and entering a joint venture in Kazakhstan (DSL Caspian, with Lancaster Group – providing a range of industrial services across onshore and offshore locations in Kazakhstan). In March 2016, we also acquired our first US-based business, investing in Atlantic Engineering Services (AES), which will position us to make significant strides in both the US and internationally in the design, build and connectivity of fibre optic networks.”
The company continues to trade strongly in 2016, and we are confident that this year will represent another year of successful development across all our businesses. We are focused on building excellence and capability in our senior management team, while helping our clients by bringing innovative technology solutions that drive operational efficiency and quality.
As a business, we focus primarily on organic growth – however, we also consider acquisitions which complement and enhance our current service offering in geographies where we can add value to our clients. There has been significant investment in the company since acquisition in 2012 and the Board and management team are focused on the strategic development of Actavo, both within Ireland and internationally.”
In November 2015, the company underwent a rebrand, bringing together the Group’s previous brands – Sierra Support Services, Siteserv, RoanKabin, Roan Building Solutions, Deborah Services, EventServ, PDC and Siteserv Access & Formwork. The company now presents as one clear, progressive corporate offering across three divisions with six integrated Actavo solutions – Networks, In-Home, Industrial, Hire & Sales, Buildings, and Events.
From an internal governance perspective, these six solutions sit within three Actavo Divisions, namely Actavo | Network & In-Home Division (comprising Network Solutions and In-Home Solutions), Actavo | Industrial Division (comprising Industrial Solutions) and Actavo | Structural Division (comprising Hire & Sales Solutions, Building Solutions and Event Solutions). Reflecting these changes, Actavo announced three senior appointments – TJ Malone as CEO of Actavo | Network & In-Home Division; Chris Foulkes as CEO of Actavo | Industrial Division; and Roger Hastie as CEO of Actavo | Structural Division.