Cegeka has published its annual report for 2019, showing growth for the sixteenth year in a row. Closing 2019 with a turnover of 561 million euros, the innovative European technology specialist has grown by 9.7% compared to 2018. “This has been our first year with Stijn Bijnens as CEO of our family business. I can only say how proud I am of the course we’ve taken under his leadership,” says André Knaepen, Chairman of Cegeka’s Board of Directors.
The publication of this report gives us a chance to reflect on another successful year, but also to look to the future – with its many challenges. “We are currently living in extraordinary times, both on a human and a business level. It’s already clear that the COVID-19 pandemic will change our lives dramatically in many ways,” says Stijn Bijnens. “Over the months and years to come, the need for companies to become digitally relevant and resilient will only increase.”
Continued annual growth for the Cegeka Group
In 2019, the Cegeka Group’s turnover amounted to 561 million euros. This is a 9.7% increase compared to 2018. The Cegeka Group also achieved an operating profit of 40.2 million euros, i.e. a growth of 3.2% (7.2% on turnover). EBITDA amounted to 55.1 million euros, with an EBITDA margin of 9.8% compared to 10.4% in 2018. Organic growth was 8.0% (or 40.7 million euros).
“We have continued to strengthen our financial position in 2019. As a result, we were able to successfully complete the acquisition of KPN Consulting in the Netherlands in April 2020 – in the midst of the coronavirus crisis. In addition, we recently had the opportunity to acquire Finavista in the Netherlands and Gridmax in Belgium, thanks to our solid financial position,” says Stephan Daems, Cegeka’s current CFO.
Towards digital relevance
Cegeka aspires to become Europe’s most relevant IT actor. How? By assisting companies to become more relevant. And by helping them become more resilient to change. “Today, all businesses, regardless of sector, are facing challenging times, in a rapidly changing world. Companies need to be ready for anything that may come their way. Their operating systems must be stable, safe, predictable and always available. At the same time, companies also need to be flexible and able to react quickly, without creating chaos,” says Bijnens.
And it is here that Cegeka can make a difference. Our goal is to do the right things in the right way, working alongside our clients every step of the way to achieve the desired results.
Technology is at the core of Cegeka’s DNA. We will never stop investing in it. In 2019, Cegeka made substantial investments in domains such as the cloud, application modernization, cyber security, business continuity, mobile private networks, 5G, and all things ‘smart’ – from smart mobility to smart business. “This year we have taken on new experts in every domain. In the coming months and years, these experts will raise Cegeka’s expertise to the next level in Europe,” Bijnens concludes.
“In extraordinary times people look for peace of mind. At Cegeka we firmly believe that the current geopolitical circumstances increase the need for large, reliable European IT players. Consumers are concerned about multiple issues, such as continuity, security and privacy. To meet these challenges, they need an IT provider they can trust,” Bijnens continues.
“This why Cegeka is investing so heavily at a local level in Europe. Although Cegeka’s headquarters will remain in Hasselt, Belgium, the Netherlands is now more than a second home. The acquisition of KPN Consulting, which began in 2019 and was finalized in the spring of this year, has been the latest milestone for our company. This move was key to strengthening our local presence in the Dutch market and broadening our end-to-end portfolio in the Netherlands,” Bijnens concludes. Cegeka is continuing to invest in the Dutch market in 2020, for instance through the recent acquisition of data specialist Finavista.
In close cooperation with our people and customers
Looking to 2020 and beyond, “In close cooperation” will remain Cegeka’s baseline. As we continue to grow in Europe, its meaning is becoming increasingly important. Today, more than ever, we know that IT is all about people.
Cegeka only exists because of our people and our customers. By focusing on our customers, their customers, our employees, business partners, stakeholders and investors, we have succeeded in making Cegeka’s story one of lasting success.