Consid publishes record-breaking figures

PRESS RELEASE 2022-11-04

The IT and communications company Consid presents record-breaking figures for the third quarter of 2022. Turnover increases by 51.6 percent to SEK 454 MSEK, organic growth. At the same time, the company has recruited over 460 new employees since the turn of the year.

– These are incredible numbers, especially if you take into account that we have been in a mild recession for a few months now and that we expect a real slowdown in the economy by winter. The high inflation, higher energy prices, in combination with the increase in interest rates and the lack of certain components have made the mood in the economy much gloomier than normal. We will make sure to invest during the crisis instead of cutting back, says Peter Hellgren, CEO and founder of Consid.

The mild recession, which has hit the industry hard, has thus not significantly affected Consid. On the contrary, Consid has signed contracts with a large number of new customers in the past six months and managed to keep up a furious pace in recruitment. At the same time, Consid has opened ten new offices during the year and also expanded to Norway and Denmark.

-When many others cut back on operations and lay off staff, we do just the opposite. We are writing up our expected annual turnover of two BnSEK, to 2.150 billion SEK and we will aim to have recruited over 500 people by the end of the year, says Peter Hellgren.

Thanks to a balance between customers in the public sector and large private players, demand for Consid’s services has increased steadily in recent years. The exposure to an individual customer is below five percent.

Now that the figures for the first third quarter of 2022 are published, it appears that both turnover and profit have increased dramatically. Consid’s turnover during the third quarter was SEK 454 million, compared with last year’s SEK 299 million. This is therefore an increase of a whopping 51.6 percent. The result for the third quarter is SEK 28.9 million, up from SEK 25.2 million in Q3 2021.

During the first nine months of the year, Consid had a turnover of SEK 1.51 billion, to be compared with the full year 2021, where the turnover landed at SEK 1.53 billion.

Until today, Consid has recruited over 460 new employees and has now exceeded 1700 employees.

– Our industry is hard hit by the skills crisis. Despite that, our recruiters keep a breakneck pace when it comes to hiring new talent for Consid. It is an enormous statement of strength, says Peter Hellgren.