SD Worx posts strong annual results for 2016

21 April 2017

HR service provider SD Worx saw its sales increase last year from €284 million to €397 million. This strong growth is mainly due to two major acquisitions last year: in March, SD Worx acquired the German company fidelis HR, with Ceridian UK and Ceridian Ireland being added in June. This helped SD Worx to reinforce its position as number two in the European payroll services sector.

The acquisitions resulted in a €90 million uplift in sales. The additional revenue of €23 was generated through organic growth, accounting for a rise of 8% over 2015. Compared to the previous year, net profits increased by €9.4 million to €47.7 million in 2016. EBIT, earnings before interest and taxes, climbed from €25.2 to €35.2 million in 2016.

An international player, but with a focus on local markets

Last year, SD Worx also purchased the remaining shares of the Belgian company Protime and SD Worx Netherlands, with the result that both companies are now wholly owned by the SD Worx Group. We now have offices in 10 countries: Belgium, Germany, France, Ireland, Luxembourg, Mauritius, Netherlands, Austria, the United Kingdom and Switzerland. Via the Payroll Services Alliance, SD Worx now provides services to companies all around the world.

“Last year was clearly the year of internationalisation for SD Worx. We are also continuing to see an awful lot of growth potential in the international market. Our customers are also becoming more and more international. We respond to this with the services we provide. In December 2016, Ascender, the leading payroll provider in the Asia-Pacific region, joined the Payroll Services Alliance. This strategic global network of payroll providers that we established, now services 130,000 clients with over 32 million employees. We combine our international expertise with our knowledge of the local markets and business. In this way, we accompany our customers on their international growth path and continue to stay close to them in the literal sense. The combination of local roots and international presence remains a key strength,” claims Steven Van Hoorebeke, CEO of the SD Worx Group.