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Gi Group, the largest Italian-owned staffing agency, reported a +45% increase in annual income for 2011 from €795.6 million in 2010 to €1,158 million. This is despite a sluggish economy and a particularly difficult last quarter, the firm said. The Group also reported that greater flexibility and the removal of restrictions to temporary employment have helped to stabilise revenues in the year.
Over 63% (roughly €729 million) of the firm’s business income was generated in Italy while almost 17% was derived from the UK where the firm finalised the purchase of Right4Staff during the course of last year. Revenues from Germany, where the Group has had a presence since 2008, contributed almost 7% to the total sales in the year.
The firm also reported that it had over 15,200 clients in 2011 and EBITDA amounted to €32 million. It also announced plans to expand further internationally in 2012.
Billing by the type of services provided increased as follows: + 46.4% for temporary and permanent staffing, + 6.6% for middle management search and +1.5% for executive search, +16.3% for outsourcing, +9.1% for outplacement, +16.7% for HR consulting, +3.1% for HR administration.
“Within the next five years we want to be one of the top 10 operators in the world with a presence on 5 continents and in at least 30 countries aiming at global leadership in the services dedicated to developing the market and culture of employment. We want to grow organically, but without neglecting acquisitions. This also means improving profitability in order to be able to support investments without placing a financial burden on the Group and identifying the best business model for each country,” said Stefano Colli-Lanzi, CEO at Gi Group.
Gi Group is an international group of companies, providing temporary and permanent staffing, as well as search and selection. The Group is privately owned and has a presence in more than 20 countries across Europe, Asia and America.