Sngular announces its 2019 results
Madrid, February 11, 2020 – Sngular, the international provider of technology services and solutions, released its preliminary results of consolidated group operations and other financial information for the twelve-month period ending December 31, 2019. The Company reported consolidated global income of €43 million, a +43% increase and a + 50% increase in EBITDA, compared to the same period in 2018. Sngular’s Chief Financial Officer, Ignacio Garcia, observed that the Company’s ability to generate such strong organic growth, while improving margins and keeping debt at a low net level, signaled Sngular’s overall sound financial condition.
Four new offices
Built on a philosophy of agility and responsiveness to its clients’ needs, in 2019 Sngular established operations in several new markets in Asia and the US. At its clients’ requests, Sngular opened an office in Singapore (Sngular’s first office in the Asia-Pacific region), as well as one in Atlanta, Georgia. The Company now has 17 offices in five countries, including 6 in the U.S. (Dallas, Boston, Pittsburgh, Atlanta, Miami and Birmingham).
The growth of the company’s geographic footprint was matched by the growth of its capabilities. “Throughout 2019, the company launched several new initiatives and technological services that expanded what we can do for our clients. Happily, these new initiatives and services have been very well received by our clients,” said Ignacio García. He highlighted the Company’s commitment to fostering an “innovation ecosystem” by complementing the core technical capabilities with a wide range of methodologies and new business models. In 2019, some key capabilities were grouped together in new specialized teams including Sngular AI (artificial intelligence), Sngular Studios (VR/AR, video games), Sngular Industry (IoT combined with AI and custom hardware for industrial solutions), Sngular Design (UX, design, research) and Sngular MarTech (applying technology to marketing).
Additionally, Sngular has continued to invest in technology companies through Sngular Ventures, which is currently a stakeholder in nine companies working in a diverse range of sectors. In 2019, Sngular Ventures invested in Visualeo, ICLANP (39ytú), UXER School and Materia Works. In 2019, revenues from Sngular’s ventures and business holdings surpassed €1 million in sales, a growth of +50% compared to 2018.
Company culture as key growth driver
In 2019, Sngular’s headcount grew +16% reaching a total of 650 employees worldwide. To attract 90 new employees and retain talent, the Company credits its commitment to fostering a strong company culture that helps attract and retain highly talented professionals who thrive in teams.
“Sngular’s strong growth has been made possible by our culture that allows us to attract excellent talent. The business is increasingly strengthened by highly experienced staff that excels at both a technical and personal level. They are drawn to the company by its professional strengths and capacity to challenge teams with projects that are both technologically interesting and impactful,” said Mr. García.
Expectations for 2020
Sngular expects continued growth in 2020, adding new capabilities and services that will allow it to offer even more solutions for its clients’ technology needs.
“We continue to follow our Strategic Plan 2016-2020, reaching our objectives each year, while always prioritizing excellence and high-impact work over quantity,” said Mr. García.