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Italy – Gi Group plans market expansion, revenues remain flat

12 April 2013

Global player Gi Group, the largest Italian-owned staffing agency, today reported that annual revenues in 2012 remained essentially flat. Following tough economic conditions seen across the world, the firm said financial results were solid.

2012 revenues totalled €1,085 million, a slight decline from the €1,158 million seen in the prior year.  EBITDA was unchanged at €20 million.

Gi Group has a presence in 19 countries and is among the 25 largest staffing companies in the world, according to research by Staffing Industry Analysts.

The firm has seen challenging trading conditions last year, especially in Europe, where just over 60% of its revenue is derived from Italy, with the UK accounting for 20%, and Germany for nearly 5%. Outside Europe, Chinese revenue made up about 6% of group-wide revenue.

“2012 has been an especially tough year worldwide as we could see from the marked slowdown in economic growth recorded in most of the countries where we operate,” said CEO Stefano Colli-Lanzi.

“Nevertheless, the Group managed to keep results in line with 2011. The numbers achieved by Gi Group in 2012 are absolutely admirable, not only on account of the generally difficult macro-economic scenario, but also considering that until 2007 Gi Group was a national company, only doing business in Italy.”

And the recruiter has big plans for the future. “We confirm our goal to become one of the top 10 global players within the next five years, present in 5 continents and at least 30 countries,” said Mr Colli-Lanzi.

The firm expanded its market reach in recent years, entering countries such as Serbia, Croatia, Montenegro, Bulgaria, Russia and Lithuania. Last year, the group also bought a minority share in an Indian recruitment process outsourcing (RPO) business. 

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