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Conscia achieves record-high revenue and earnings in the 2023/24 financial year, driven by particularly high growth in cyber security and services business

Conscia has nearly doubled its revenue and earnings over the past five years, with both revenue and normalised EBITDA achieving 19% average annual growth. In FY 2023/24, Conscia reported EUR 612m in revenue, with a standout 21% growth in managed services. Earnings rose 17% to EUR 68m, with recurring cybersecurity and services revenue reaching EUR 150m. Strategic acquisitions – including ITGL in the UK and Kanari Group in the Nordics – have further expanded Conscia’s footprint. With high customer and employee satisfaction scores, Conscia remains a trusted, fast-growing IT infrastructure leader across Europe

Conscia has almost doubled its revenue and earnings over the last five years with both revenue and normalised EBITDA showing an average annual growth of 19%. In the financial year 2023/24, group revenue was EUR 612m (DKK 4,563m). The fastest growing segment was Services with managed services increasing by 21%. Earnings grew 17% to EUR 68m (DKK 510m).

“We are pleased with our sustained, profitable growth, driven largely by robust sales and commercial initiatives across the group. Last year, we experienced exceptional top-line growth, in part due to the normalisation of supply chain challenges following the Covid pandemic. Not only have we retained this business, but we’ve also enhanced margins across the board – a highly satisfying achievement.” says Group CEO Erik Bertman, Conscia.

Recurring cyber security and other services revenue increased by 19% to EUR 150m (DKK 1,122m). IT infrastructure solutions grew to EUR 461m (DKK 3,441m).

Significant M&A activities

Conscia made a strategic entry into the UK market through acquiring ITGL Limited. Additionally, Conscia expanded its cyber security expertise by acquiring Swedish Splunk specialist Siemify Software AB.

After the reporting period, Conscia further extended its capabilities and scale by acquiring Kanari Group, a Nordic leader in observability solutions. PlanNet 21 Group was acquired as well – a prominent provider of cyber security, networking, and managed services across the Irish and UK markets. The latter also represented a strategic market entry in Ireland, expanding our strategic platform in the UK and Ireland.

Customer and employee satisfaction scores, measured as NPS, stand at 77 and 57 respectively – considered very high for the industry. These strong ratings are important for Conscia to stay relevant and highly valued by both customers and employees in the years to come.

Please find more information at: https://conscia.com/press-releases/annual-results-2023-24/

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