Seidor continues its double-digit growth and exceeds 400 million Euros in turnover

Seidor continues its double-digit growth and exceeds 400 million Euros in turnover
/ Houston, Texas
Presentation of the 2018 financial results
presentacion-resultados-2018

Seidor, the multinational consulting firm specializing in technological services and solutions, ended financial year 2018 with a total turnover of 414 million Euros, 10.4% more than the previous financial year. With this, the company continues its double-digit growth trend for the eighth year in a row. Since 2011, Seidor has tripled its business volume thanks to an average annual growth rate of 17%.

According to Eduard Farga, Deputy Managing Director at Seidor“The results of financial year 2018 reinforce our growth strategy based on the development of the Spanish market, internationalization and the diversification of our range of services. Once again, we have met all our objectives: double-digit growth to exceed 400 million Euros in turnover world-wide. The fact that we have fulfilled our projections enables us to maintain the target of 500 million Euros by 2020.

Seidor's growth is also reflected in its workforce, which increased in 2018 by 17% globally, reaching a total of 4,762 professionalsSeidor's Deputy Managing Director, Alejandro Daniel, had this to say about this growth: “Our workforce is now three times the size it was in 2011, a clear reflection of the company's growth, with the hiring of talent to respond to the demands of our clients. In the US, our staff grew by 15% in 2018.

 “We are very pleased with our performance in the US which wrapped up a tremendous 2018” TomasFertig, President and CEO of Seidor USA, said in a statement.  “During this time, our operation grew 65%. This past year, we not only delivered the right technology to our customers but also helped them gain value from their IT technology investment. In 2019 Seidor continues its commitment to walk with the SMEs companies and large corporations through their business solution adoption by having the right talent in place.”  

Recognition from our partners 

Seidor strengthened its position as an SAP partnerduring 2018. This has been portrayed by several forms of international recognition, among which we would highlight: two SAP Pinnacle Awards (SAP Cloud Partner of the Year – Small and Midsize Companies and SAP Partner of the Year – Analytics & Insight.), five SAP awards in the Spanish market in recognition of volume of sales and operational excellence, four SAP awards in the Latin American market and two more in the Middle East. We have also received two awards from IBM in Spain as best partner of the year and best partner in the systems category.

A commitment to the US market

This is not a secret. Small and Midsize companies are growing and expanding into new markets. They certainly need the right SAP solution that best fits not only their needs but also their timelines and budget. Seidor is the only SAP Partner across the US with the capability to help SMEs in evaluate all three ERP solutions in the SAP portfolio:  SAP Business One, SAP Business ByDesign and SAP S4 HANA both on premise and in the cloud.  

The US operation is fully committed to walking with companies in the SME space through their business solution adoption journey. “We are focused on helping our customers obtain value from their technology investment and are committed to developing long-term relationships with them” , said Fertig. 

Internationalization, a driver of growth

During 2018, international business grew by 18%year on year, and is one of the main drivers of the company's growth, accounting for 36% of the overall turnover. 

Our commitment to the Middle East region, which started with the operations in Dubai in 2014, has been strengthened with 2 joint ventures in the region: Seidor's entry in the Israeli market, where it has set up a new company with the local group Malam; and the forming of an alliance with a local company in Oman.

Turning now to Latin America, Seidor has consolidated its position in the highly important Brazilian market, where it has opened new offices and acquired small local firms. 

In 2019, Seidor will continue to be on the lookout for development opportunities through alliances and acquisitions internationally. We are currently exploring options in North Africa and the Middle East,” says Alejandro Daniel.

Diversification in the range of services we offer 

Throughout 2018, Seidor has pushed forward with initiatives that strengthen the diversification of its range of services: cloud solutions and digitalization and innovation services. The cloud solutions business has seen growth of over 50% and confirms the expectation of becoming a growth driver. Among the cloud solutions, a major development has been the incorporation of SAP Concur in our product portfolio, a solution for managing travel and expenses

2018 was another excellent year in terms of results and strengthens our conviction to continue with our growth strategy in 2019,” concludes Eduard Farga.

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