MU, the only global Executive Search and Talent Advisory firm based in the Nordics, announces a continued strong development in 2018. The company follows up a strong 2017 (fee revenue 88 555 KEUR, EBITDA 4.8%) with 2018 showing stable revenues and rapidly increasing profitability. The EBITDA for the first half year of 2018 was 12.2%.
Since 2016 the previously country based MU organisation has changed to a one company global structure with 70 teams operating from 50 offices worldwide assisting clients in 60+ countries. The structural change has been effective in increasing the firm's capabilities and global reach for clients, providing new opportunities to colleagues and candidates and reducing bureaucracy. Enabled by this change the company also announced the appointment of the first 30 equity partners in the company's history at the beginning of Q3 2018. (Read more about the Partner appointment here).
An important part of MU's strategy is to refine our offerings and substantially increase our presence in the premium 'executive' segment. This process is moving fast. At present a major part of our revenue (45%) consists of Executive Search and Strategic Recruitment. Executive Search revenues increased 23% in the first half of 2018 compared to the same period 2017. The Talent Advisory business (20% of the total revenue) is also developing into the premium segment with increases in both premium leadership assessment, second opinion and coaching services.
"We are in an intense development phase bringing solutions and capabilities to our clients that effectively and rapidly strengthens their development. We do this by modernising and strengthening our solutions so they fit the increasing digitalised business context. In addition to this we strengthen our organisation by selectively employing highly able and highly competent talents", says Roger Hagafors, Chairman of the Group Board.
"I am very happy to see that our focus on fulfilling the most strategic needs of our clients also increases our opportunities to make a significant difference for them. All in all, this reassures a strong and sustainable MU", adds Roger Hagafors.