Gi Group Holding, parent company to INTOO, a leading provider of employee lifecycle solutions, shared results achieved in the fiscal year ending on December 31, 2022 affirming its position as a global leader in the HR services and consulting space.
February 2023 marked the 25th anniversary of Gi Group Holding. Since the beginning, the company has shown a constant path of growth and development, which have been the catalyst in establishing the Group as one of the leading global players in the human resources industry.
Key consolidated results, as of December 31st, 2022:
- For Gi Group Holding, fiscal year 2022 confirmed significant double-digit growth compared to 2021: revenues amounting to €3.6 billion, showing a 12.3% increase compared to the previous year.
- Profitability also increased, with a gross profit of €508 million (+20% vs FY2021), EBITDA of €139 million (+21.1% vs FY2021), and a net profit of €54 million (+33.4% vs FY2021).
- As of December 31, 2022, the Group’s net financial debt amounts to €256 million (vs €207 million in 2021), maintaining a solid IFN/EBITDA ratio of 1.85x (vs 1.81x in 2021).
- The Group’s net equity increased to €196 million compared to €144 million as of December 31, 2021.
Counting on the contribution and commitment of over 8,000 people worldwide, Gi Group Holding operates in 34 countries across Europe, America, and Asia, with over 650 branches and more than 20,000 client companies.
Stefano Colli-Lanzi, CEO & Founder of Gi Group Holding, stated, “Gi Group Holding’s growth strategy aims to evolve the labor 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. 2022 distinguished itself for being a year full of changes and innovation, including the Group’s reorganization, rebranding, digital transformation, and ESG projects. Furthermore, our external growth strategy went forward, and, in January 2023, with the 50th M&A operation, we achieved an important milestone. 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.”
“Being part of Gi Group Holding provides INTOO with access to the best and brightest minds in our industry globally, enabling us to have a particularly holistic view of the market and the clients and employees we serve,” said Mira Greenland, CRO of INTOO USA. “We’re proud to be part of an organization that truly cares about creating a world of work where everyone has the opportunity to be and do their best.”
Key Events During FY2022 and Subsequent Events
2022 was a year of substantial changes culminating in the renewal of the Group’s vision to seize growth opportunities and adapt to the changing market needs, as well as to optimally respond to the Group’s scale. This process began with the corporate restructuring and the establishment of Gi Group Holding S.p.A. as the head of the entire Group. The objective was to create a new structure capable of simplifying hierarchical levels and governance, managing central functions, coordinating the activities of Italian and foreign subsidiaries, and defining the Group’s strategies.
The M&A strategy has remained one of the key drivers to speed up the Group’s development and growth in 2022. With the successful acquisition of The Bridge Social, finalized in January 2023, Gi Group Holding completed its 50th M&A operation, accomplishing a significant milestone. The fruitful external growth strategy also led to significant achievements. Indeed, Gi Group Holding earned the prestigious “Finance for growth” award at the “M&A Award 2023” promoted by KPMG Italy and Fineurop Soditic.
Gi Group Holding’s business model incorporates ESG growth factors, which include the commitment to continually generate not only economic but also social value, to achieve true “Sustainable Work.”
In pursuit of this commitment, the Group partners with the Gi Group Foundation, which supports the dissemination of the culture of Sustainable Work by implementing projects and providing support for inclusion, targeting individuals facing difficulties in accessing or being excluded from the labor market.
Additionally, aligned with the pursuit of the United Nations Sustainable Development Goals (SDGs), the CSR Committee has identified the Group’s priority goals:
- Quality Education
- Gender Equality
- Decent Work and Economic Growth
- Reduced Inequalities
- Partnership for the Goals
Last but not least, in 2022, the Committee decided to focus on a new SDG objective, No Poverty, by creating employment opportunities for disadvantaged groups and ensuring dignified and sustainable working conditions for all stakeholders along the supply chain, in line with the Group’s strategy, operations, and corporate governance. This social role, embedded in the Group’s core business, is also reflected in its Ethical Code.
Gi Group Holding is committed to sustainable growth and business practices to meet the needs of the evolving labor market. The Group will continue to monitor global trends and react appropriately in order to deliver necessary and best-in-class outplacement, learning and development, staffing and workforce transformation services worldwide.