Transcom Holding AB (publ): First quarter report 2022

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First quarter 2022 highlights

  • Revenue increased to 175.6M€ (150.9)
  • EBITDA excluding non-recurring items increased to 20.5M€ (18.7)
  • EBITDA margin excluding non-recurring items amounted to 11.7% (12.4%)
  • Operating cash flow amounted to 15.2M€ (11.7)
  • Net debt/EBITDA amounted to 4.1 (3.3)

Comments by the CEO: Off to a good start

Transcom starts the year with solid growth and increased EBITDA. Revenue growth in the first quarter was 16.4%, whereof 7.3% organic, while EBITDA increased to €20.5 million (18.7).

The positive drivers of the development are largely the same as for recent quarters. Growth is driven by a continued positive organic development in the eCommerce & Tech sector, and with the acquisition of City Connect contributing positively to revenue and profit.

In addition, price renegotiations during the end of 2021 contributes positively to revenue and EBITDA during the quarter, while ramp down of temporary projects, predominantly Covid hotlines, had a negative impact.

We continue to win new contracts. Annual revenue of new contracts closed in the quarter amounted to €11 million and our sales pipeline is solid.

We expect a continued good market for outsourced customer experience services, to cost efficient near/offshore locations. To meet client demand, we have expanded our capacity in North Macedonia, Spain, and the Philippines. This expansion also supports an increased share of work-at-office and hybrid work models, as Covid measures are eased up.

The Russian invasion of Ukraine and the uncertainty in the macro-economic development has not directly impacted Transcom. Historically, the outsourced CX industry has proven to be highly resilient. Moreover, when clients are looking for improved efficiency, Transcom is available as their partner, offering cost efficient digital solutions and near/offshore delivery.

Our strategy is focused on client service and operational excellence, through strong culture and leadership. Moreover, we are continuing our shift towards digital services, eCommerce & Tech and increased near/offshore delivery.

We are entering the second quarter with positive momentum and we stand committed to our long-term targets of double digit organic growth and 16% EBITDA margin.

Jonas Dahlberg, President & CEO

Q1 2022 results webinar

Transcom will host a webcast on Thursday, May 12, at 9:00 am CET. The presentation will be available on, direct link here.

Presentation details

Date/Time: Thursday, May 12, at 9:00 am CET

Online Registration link:

Important note: Please register via the link above at least 5-10 minutes prior the webcast in order to obtain the webcast link. If you register in advance, you will be sent an email reminder an hour prior to the webcast.

For further information, please contact

Jonas Dahlberg, President & CEO
Phone: +46 (0)70 347 23 83, email:

Snejana Koleva, Chief Financial Officer
Phone: + 46 (0)70 508 3830, email:

Helene Ruda, Head of Group Communications
Phone: +46 (0) 70 311 7560, email:

About Transcom

Transcom provides digitally enhanced customer experience (CX) services to some of the world's most ambitious brands. More than 300 clients globally, including disruptive e-commerce players, category redefining fintechs, and technology legends rely on us for on-, off-, and nearshoring services. Transcom’s over 30,000 employees work in 69 contact centers and work-at-home networks across 26 countries, creating brilliant experiences in customer care, sales, content moderation and backoffice services. We help our clients drive their brands forward, customer satisfaction up and operating costs down. For more information, visit