Despite last year being characterised by global instability, a volatile macroeconomic environment, and a sluggish market in the IT consultancy industry, emagine achieved 9% organic revenue growth along with a record-high adjusted EBITDA margin of 9.9% in 2024. This sets a new revenue record of 495 million EUR for 2024, compared to 456 million EUR the previous year. The report cements emagine's position as a growing player in the global IT consulting market and demonstrates the strength of its chosen strategy.
A winning formula
"Two years ago, we laid out a clear strategy with a single purpose: to challenge the largest global consulting firms on truly complex and ambitious projects. Today, we are a real contender and are increasingly being compared to the world's leading firms, performing very well every time in these comparisons. We have found the recipe for success," says Anders Gratte, Group CEO of emagine.
emagine offers high-end business and IT consulting services to private and public clients across 13 countries. The global success is attributed to the unique business model that combines permanent experts with specialised consultants from a community of several hundred thousand business and IT specialists. Combining permanently employed experts with a global network of verified specialists, emagine offers flexibility and a breadth of expertise beyond what is possible in the conventional consulting model.
"We have rethought the way services are delivered, and this challenges the industry because our model is more flexible and scalable," says Anders Gratte. "By better tailoring projects, we can provide far more specialised experts. This gives us a clear advantage."
emagine continues its streak of acquisitions
2024 marks a crucial year of expansion for emagine through strategic acquisitions. In October, emagine significantly strengthened its position by acquiring the renowned German consulting firms Allgeier Experts and U.N.P., with more than three decades of industry experience, instantly doubling emagine's footprint in the vital German market. Two months later, emagine strengthened its growth strategy by acquiring Portuguese Boost: IT and Hexis Technology Hub, adding 400 specialised permanent consultants to the group. These significant acquisitions are emagine's ninth and tenth in just five years, underscoring the group's ambitious expansion strategy and strategic advance in the European consulting market.
"Acquisitions are an essential part of our growth strategy, which, together with our strong organic growth, serves as a central driving force for our European expansion. This dual approach gives us a unique competitive advantage, allowing us to deliver globally and with deep local roots to our clients. Our M&A machine is running at full speed, and we have already set course for several strategic acquisitions soon," says Anders Gratte.
emagine expects continued growth in the coming years, particularly driven by an increased need for investments in digital infrastructure and AI. In recent years, emagine has allocated significant resources to developing its own AI solutions. The expectation is that this will increase both the speed and quality of work, making emagine even more competitive in the coming years.