Italian-based Gi Group Holding announced last week its results for the fiscal year ended 31 December 2022. Revenue amounted to €3.6 billion, showing a 12.3% increase compared to the previous year, with positive performance in all regions outside Italy, particularly Eastern Europe (up 51% vs FY21).

Profitability also increased, with a gross profit of €508 million (up 20% vs FY 2021), EBITDA of €139 million (up 21.1% vs FY 2021), and a net profit of €54 million (up 33.4% vs FY2021).

Across regions, revenue in Latin America and Southern Europe was up 41% vs FY 2021. Asia, Switzerland and the Baltic countries reported an increase of 28% compared to the same period a year ago. Central Europe saw growth of 9% and Italy reported an increase of 7% against FY 2021.

Among business lines, Temporary & Permanent Staffing increased by 12% compared to the FY 2021. Business Processes Outsourcing saw growth of 29% vs FY 2021. Middle & Senior Manager - Search & Selection recorded an increase of 26% vs FY 2021), and Learning & Development reported growth of 29% vs FY 2021.

In line with the strategy of enhancing global identity and visibility, in 2022, the Group launched its ‘Corporate Brand’ to represent all business lines, countries, and people, thereby strengthening brand awareness.

The two-year digital transformation plan for 2022-2023, marked by the establishment of the new ‘Global Digital, Innovation and Analytics’ function, has been set into motion. Its primary objective is to turn Gi Group Holding into a data-driven organisation, enabling informed decision-making through descriptive, diagnostic, and predictive analysis.

Moreover, the plan seeks to streamline the recruitment process by incorporating automation. In this scenario, the group invested in the Gi-Suite tool, a multi-product application for daily activity management. To ensure the smooth implementation of the transformation process and foster its adoption, in 2023, the Global Digital, Innovation and Analytics function established the Adoption & Change unit, aiming to support and guide resources throughout the operational phases, from initial preparation to monitoring selected KPIs, and the Database Monetization project to leverage the database’s potential.

During 2022, the M&A strategy has remained one of the key drivers to speed up the group's development and growth. With the successful acquisition of The Bridge Social, finalised in January 2023, Gi Group Holding completed its 50th M&A operation, accomplishing a significant milestone.

The group also acquired Eupro Holding AG in December 2022, a group of Swiss-based companies focused on the recruitment and human resources industry. During the same month the company announced the acquisition of recruitment firm CVO Recruitment and Simplika, an executive search, recruitment, and staffing company, with a presence in Lithuania, Estonia and Latvia.

In May 2022, the group announced a pair of acquisitions in Latin America, including Grupo Focun in Colombia and Stato Consulting in Brazil.

In July 2022, the group announced the acquisition of Bruno Matarazzo y Asociados (BMyA), an outplacement consulting firm in Argentina.

In October 2022, Gi Group Holding announced that it has concluded the acquisition of Encore Personnel, a UK-based specialised recruitment firm.

The company also noted that February 2023 marked the 25th anniversary of Gi Group Holding.

Stefano Colli-Lanzi, CEO & Founder of Gi Group Holding, said, "Gi Group Holding's growth strategy aims to evolve the labour market by creating sustainable, social, and economic value. This approach is reflected in our constant commitment to build a more effective and efficient HR ecosystem by promoting a work culture that satisfies the interests of businesses, individuals, and society.”

“Our journey, started 25 years ago, has proven to be successful, and it was supported by continuous financial and economic growth. 2022 distinguished itself for being a year full of changes and innovation, including the group’s reorganisation, rebranding, digital transformation, and ESG projects,” Colli-Lanzi continued.

“Furthermore, our external growth strategy went forward, and, in January 2023, with the 50th M&A operation, we achieved an important milestone. The goal for the future is to maximise overall value and internal synergies, streamline business management and cash flow, improve the group's recognition, and promote internationalisation. The success of our group is the result of the collaborative work of all our people who contribute every day to the wellbeing and development of our company and our society, worldwide,” Colli-Lanzi said. Gi Group Holding ranks as the 15th Largest Staffing Firm Globally based on 2021 revenue.