Despite war and inflation, the consultancy industry continues to grow
Despite inflation and the war in Ukraine, consultancy companies continued to deliver strong growth over the last quarter. Companies report that demand remains very high, especially in the IT sector.
“The pandemic led to five quarters of negative growth. Since then, the recovery has been amazing, with extreme growth rates over the last five quarters. Growth was a high as 18.6 per cent during Q2, driven by several new acquisitions,” says Mattias Loxi, cofounder and CMO of Cinode, the market leader in skills management for consultancy companies.
The highest growth during the quarter has been achieved by Addnode, Knowit and Exsitec through organic growth and several acquisitions.
Very high acquisition rate
Only one third of companies had higher year-over-year profit margins. The median margin declined from 7.5 to 6.6 per cent.
“Fewer working days and increased costs as employees meet more often result in lower margins for companies. The number of staff employed by companies continues to rise despite many declaring that the skills shortage remains large. As a result, we see a very high acquisition rate at the moment. Etteplan’s billion-kronor bid for Semcon after the end of the period is one example. Subconsultants and partners are also being utilised to a greater extent,” says Loxi.
See an infographic on the Q2 reports of listed consultancy companies.
Mattias Loxi
Co-Founder/CMO
+46735142170
mattias.loxi@cinode.com
About Cinode
We are Cinode, a platform that demystifies and matches your skills. Our vision is to change how talents are matched with the right challenge - within and between companies - so that everyone gets the same opportunities to make their talents and ambitions visible. Take control of competence and enable the right talent to be matched with the right assignment.
Founded in 2010, the Cinode platform is the market leader in skills management and seamless sourcing with users in more than 20 countries. https://cinode.com/en/
