Please note, following NES Global Talent’s refinancing the company’s results are now reported in US$. For more information on the refinancing please view our press release.
NES Global Talent’s EBITDA has soared to a record high of $52.3m (£33.3m), up 35.8% from $38.5m (£24.3m) the previous year, in the year ended 31st October 2013.
Turnover has increased by 25.3% to $977.4m (£627m), compared to $780m (£492.4m) in 2012, in the same financial period.
As well as further strengthening its financial performance, NES Global Talent has continued with its strategic global expansion plan, opening new offices in Sydney, Australia; Stavanger, Norway; New Orleans, US; Cape Town, South Africa; Erbil, Iraq; and Paris, France.
The group now has 42 offices across 26 different countries and will continue to open new operations in global locations in the forthcoming financial year.
Commenting on the results, Stephen Buckley, Group Finance Director at NES Global Talent, said: “Last year, we announced our intention to become a £100m profit business by the year 2020. We are delighted to report that we are well on the way to making that vision a reality, with 2013 being the most successful year in the company’s history. Not only did we grow EBITDA to $52.3m, a record increase over prior year of 35.8%, we also completed the refinancing of our business, giving us the type of financial firepower that is usually only the domain of large publicly quoted companies. This refinancing took place a year after the sale of NES Global Talent to AEA Investors. With the support of our new partners we believe that we are now perfectly positioned to further build our market share and support our candidates and clients, wherever in the world they are based.”
Neil Tregarthen, CEO of NES Global Talent, said: "Our success comes from listening and reacting to the needs of our clients and candidates. Clients in the energy industry need far more than traditional staffing support. Working in some of the most challenging environments in the world, we believe that locating the right member of staff is only half the challenge. The other half revolves around keeping the employee and often their families, healthy, safe, and comfortable with the national culture in which they live and the regulatory environment they have to operate in.
“At the last count, we had over 30 different services, designed to answer whatever challenges our clients face. If that isn’t enough and there’s something we haven’t covered, then we create a solution that answers that requirement. We believe that this innovative approach is what sets us apart.”