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Nils De Bremaeker
Strategic Finance Analyst
+32 3 2202811

Financial news

Carlos Pardo

SD Worx starts payroll business in Spain and Portugal and appoints Carlos Pardo as Managing Director SD Worx Iberia

13 July 2021

SD Worx, a leading European HR & Payroll services provider, is opening an office in Madrid to expand its activities across Europe. SD Worx will provide payroll and HR services to international organisations who are, amongst other locations, active in Spain and Portugal. Furthermore, SD Worx will start services to the domestic payroll market as well, aiming at local private and public organisations with 250+ employees. With more than 25 years of experience in the Spanish payroll and HR market, Carlos Pardo, the former CEO of Meta4, brings a wealth of experience and a strong leadership pedigree to realise SD Worx’s ambitions in Spain and Portugal.

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SD Worx acquires launch! and strengthens its position in SAP SuccessFactors services

30 June 2021

SD Worx, a leading European HR & Payroll services provider, has acquired launch!, a Dutch company providing SAP SuccessFactors-based implementation, maintenance and outsourcing services. With this acquisition, SD Worx strengthens its footprint in HR cloud & payroll market to better support the digital HR needs of enterprises across Europe.

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Christophe Petit leaving SD Worx Staffing & Career Solutions

Christophe Petit, who until now managed SD Worx Staffing & Career Solutions, will continue his career outside SD Worx. Christophe Petit laid the foundations to make SD Worx Staffing & Career Solutions a success story. This entity, with focus on the market for flexible work, plays an important role in the overall growth story of SD Worx.

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SD Worx and Vlerick Business School establish strategic partnership to build digital ecosystem for HR

25 June 2021

Leading European HR and Payroll service provider SD Worx is establishing a strategic partnership with the Vlerick Business School to give an extra boost to digitalisation in the HR world. One of the initiatives to help achieve this is the development of a digital ecosystem for the world of work and beyond. SD Worx wishes to go beyond simply providing services related to HR and payroll and is setting up a platform through which external parties can also offer their services. The platform will be accessible from January 2022 and will be the first of its kind in Europe.

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SD Worx accelerates digital innovation and becomes majority shareholder of Teal Partners

SD Worx, a leading European HR & Payroll services provider, has become the majority shareholder of Teal Partners. SD Worx has enjoyed a close collaboration with the Belgian software development provider Teal Partners since its inception, and the two companies have worked together on a number of innovative products and services. For the last two years, SD Worx has been a minority shareholder of Teal Partners. With SD Worx now acquiring 74% of its shares, Teal Partners can accelerate its growth ambitions and increase its impact on the digital transformation in various sectors.

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SD Worx continues international growth and enters Scandinavia with Aditro acquisition

28 April 2021

SD Worx, a leading European Payroll and HR services provider, has entered into a definitive agreement to acquire Aditro, a leading Cloud HR & Payroll software provider in Sweden, Finland and Norway. This transaction advances SD Worx’s ambition to become the reference payroll and HR services provider in Europe. By entering the Nordics, SD Worx strengthens its geographical footprint and position as leader in the European HR and payroll market.

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SD Worx achieves positive profit results despite corona crisis

26 February 2021

SD Worx, a leading European HR & payroll services provider, achieved a consolidated turnover of EUR 743.3 million (-3.2% compared to 2019) and a normalised EBITDA of EUR 77.3 million (+15.3% compared to 2019) in 2020. The normalised EBITDA includes investments in digital transformation for an amount of EUR 11.8 million.

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SD Worx opens new office in Poland

1 February 2021

Antwerp, 1 February – SD Worx, a leading European HR & payroll services provider, has opened an operations center in Katowice (Poland). The geographic expansion to Central Europe underpins SD Worx’s international growth strategy and supports the global expansion of its customers with payroll and HR services.

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Good results

Good results of SD Worx during the first half of the year, despite the Corona crisis.

24 August 2020

Payroll and HR service provider SD Worx has announced its results for the first half of 2020. SD Worx is an essential partner for its customers in an economic climate that is really suffering due to the coronavirus crisis. By adopting a strong emphasis on cost control, SD Worx has succeeded in maintaining its results.

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SD Worx acquires GlobePayroll

SD Worx acquires GlobePayroll

29 May 2020

Payroll and HR service provider SD Worx has acquired all the shares of GlobePayroll. Founded at the end of 2015, GlobePayroll develops cloud-based technology for HR and payroll. SD Worx increased its stake in the company to over 50% in summer 2019, and is now set to acquire all shares. Through this takeover, SD Worx is aiming to accelerate the development of digital HR and payroll technology for employers in Europe.

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Annual report

Annual report 2019

2019 was an eventful year for SD Worx, a year of transformation and a year of excellent growth. Side by side with our customers, our employees and our partners, we set the blueprint for the future of SD Worx.

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SD Worx acquires Adessa Group and strengthens its digital HR offering

9 April 2020

– SD Worx announces the acquisition of Adessa Group, a technology consulting firm offering HR software in the cloud and associated services. The acquisition underpins SD Worx' growth and innovation strategy and will help organisations in their transformation towards efficient HR processes and a digital workplace. This challenge is now more relevant than ever before for many employers.

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Corona/COVID-19 pandemic

30 March 2020

On February 26th 2020, we activated our Pandemic Continuity Plan. Separate Corona/COVID-19 response teams were established in SD Worx. Our Corona/COVID-19 response teams participate in daily calls to plan, monitor, respond effectively as the situation develops and evolves.

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SD Worx Holding invests heavily in growth

SD Worx Holding invests heavily in growth

28 February 2020

With a consolidated turnover of EUR 767.6 million (+29.1%) and a normalised EBITDA of EUR 85.4 million (+25.4%), HR services provider SD Worx achieved excellent growth in 2019.

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SD Worx signs major sponsor deal with Boels-Dolmans women’s cycling team

12 February 2020

SD Worx is proud to announce the finalisation of a key agreement: we will become the standalone sponsor of the current Boels-Dolmans women’s cycling team from 1 January 2021. On this date, the world-leading group of athletes will become the SD Worx Cycling Team. This step fully aligns with our mission to support elite sports, diversity and talent development. The sponsorship contract runs through 2024.

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SD Worx and Pointlogic HR join forces

7 February 2020

Brussels, 7 February 2020 – HR service provider SD Worx has acquired Pointlogic HR, a major supplier of innovative software for reward and management solutions and associated consulting services in the Netherlands and Belgium. Pointlogic HR shall continue to operate independently within SD Worx from its location in Rotterdam (Netherlands), ensuring continuity for its employees and customers. The company serves more than a third of the Dutch population.

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SD Worx Holding is confident about first half of 2019

27 August 2019

Antwerp, 27 August 2019 – SD Worx Holding, internationally active in payroll and HR, achieved a turnover of €386.2 million for the first half of this year. That is, on a like-for-like basis, an increase of 4.9% as compared to the first half of last year. The normalised EBITDA for the first six months of 2019 totalled €43.9 million, slightly more than in the same period last year. This does not include the investments in SD Worx's digital transformation project.

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SD Worx and GlobePayroll Strengthen Partnership

12 July 2019

Brussels, 12 July 2019 – SD Worx, a leading provider of global Payroll and HR services, increases its stake in GlobePayroll from 40% to 50.01%. This company was established at the end of 2015 and the first on the market to offer a global payroll solution operating entirely in the cloud.

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SD Worx Holding NV announces the early closing of its public offer to subscribe to bonds

24 May 2019

SD Worx Holding NV (the “Issuer”), with registered office at Antwerp (Belgium), announces the succesful placement of bonds with a term until 2026 (the “Bonds”). As the subscriptions for the Bond issuance have reached the maximum amount of the offer, namely €80 million, the subscription period was terminated early today at 5:30 p.m. CET. The issuance was very successful and was oversubscribed almost three times.

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SD Worx Holding NV launches a bond issuance for an amount between €50 million and €80 million

22 May 2019

Antwerp, Belgium, 22 May 2019 - SD Worx Holding NV (the “Issuer”), with registered seat in Antwerp (Belgium), announces the launch, as from Friday 24 May, of the issuance of bonds with a maturity of seven years for an aggregate minimum amount of €50 million and an aggregate maximum amount of €80 million (the “Bonds”).

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Corporate Governance

SD Worx attaches great importance to adequate corporate governance policies and, although its shares are not listed on any exchange or market to date, undertakes its best efforts to apply the governance best practices of the 2009 Belgian Code on Corporate Governance of 12 March 2009.

Board of Directors

The Board of Directors consists of nine members, taking into account the required diversity and complementary. The Board of Directors has established two advisory committees: Audit & Risk Committee and Remuneration and Appointment Committee.

Members : Filip Dierckx (Chairman), Marc Binnemans, Teresa Colaianni, Dirk Collier, Michel Delbaere, Christophe Petit, Jan Van Acoleyen, Koen Van Gerven, Steven Van Hoorebeke, Kobe Verdonck, Patrick De Vos, Fredericus Van Bladel, Rita Dockx, Georgette Schlick, Brigitte Boone, Els Blaton

Audit & Risk Committee

The Audit & Risk Committee assists the Board of Directors in exercising its auditing role, notably in terms of providing financial information, risk management and compliance, internal audits, internal review systems and external auditing.

Members: Frederik van Bladel (Chairman), Filip Dierckx, Patrick de Vos, Riet Dockx

Remuneration and Appointment Committee

The Remuneration and Appointment Committee formulates proposals concerning the appointment, remuneration and evaluation of the members of the Board, and the executive management of the Issuer and its Subsidiaries.

Members: Dirk Collier (Chairman), Filip Dierckx, Tea Colaianni, Jan Van Acoleyen, Frederik Van Bladel

Management Committee

The Management Committee’s competences and areas of focus include: (i) the Group’s financial investment and portfolio management; (ii) financial control and consolidation; (iii) M&A and overall strategy of the Group; (iv) organization of the Group control functions with a view to effectively managing risks within the Group; (v) capital structure of the Group; (vi) evaluation of the performance of the operations of the Group; (vii) coordination of the Group’s different business operations, and fostering cooperation and synergies between the business operations with as aim to integrate the business operations to a maximum extent; and (viii) corporate housekeeping and governance of the Group.
The Management Committee meets on average two times per month.

Members: Filip Dierckx (Chairman), Dirk Collier, Kobe Verdonck, Christophe Petit, Hector Vermeersch, Guido De Grefte, Fabienne Lallemand