knowmad mood closes 2023 with a 30% growth in revenue
knowmad mood, a leading technology consulting firm in digital transformation solutions, which celebrates its 30th anniversary in 2024, had a revenue of 168.1 million euros at the end of 2023, representing a 30% growth compared to last year, which ended with a turnover of 129.2 million. It has also achieved a normalized EBITDA (earnings before interest, taxes, depreciation, and amortization) of 10.4 million euros. The operating profit amounted to 9.6 million euros.
These year-end figures for 2023 showed growth over last year’s results: “This growth continues to be mainly based on our high capacity to generate value for our clients, which allows us to continue to enjoy a high degree of trust and incremental recurrence each year, as well as on diversification of our portfolio of services, an ever greater commitment to our international presence and a strengthening of our M&A activity”.
In terms of normalized EBITDA, our figure of 10.4 million euros is below our estimates. That is why, together with the weaker-than-expected demand, we have mainly prioritized the growth factor in revenues, to subsequently be able to transform this into higher EBITDA in future years.
From the point of view of international business, we have maintained our roadmap and our firm commitment to internationalization in high-potential markets, continuing to grow at excellent rates, achieving aggregate revenues in our subsidiaries abroad – United Kingdom, United States, Italy, Portugal and Uruguay – of 12.5 million, five times the figure for the previous year.
In terms of debt, our meager ratio of 0.1 Net Financial Debt over normalized EBITDA, puts us in an enviable position that should enable us to multiply our M&A activity, acting as an important catalyst for further growth beyond organic growth, the constant updating, and therefore, of our portfolio of services and an ever-greater international presence and robustness.
Finally, it should be noted that these figures are supported by a magnificent and highly committed team, which will undoubtedly continue to grow with the company. Our turnover figure of 14.44%, well below the sector average, bears witness to this. My infinite personal gratitude to all of them because I will never get tired of saying that they are the ones who really make this company possible“, says José Manuel Rufino Fernández, President and CEO of knowmad mood.
The technology company celebrates its 30th anniversary and is looking forward to an “exciting” 2024
knowmad mood, celebrating its 30th anniversary in 2024 since its foundation in 1994, has also started with another milestone that responds to its inorganic growth strategy. The technology company recently announced the acquisition of the technology consultancy Interwor, an expert in IT infrastructure services, communications, security, and the digitization of the workplace.
For this reason, the current financial year will continue to be geared towards responding to the great growth and expansion experienced in recent years. As to what the future holds, José Manuel Rufino Fernández says: “The future looks exciting. We live in a market where the gap between the technological reality in which our clients find themselves and the state-of-the-art of technology is growing, representing a spectacular opportunity for the entire sector in the coming years. Of course, at knowmad mood, we are in the best position to take advantage of this opportunity thanks to the maturity that comes from 30 years of experience working side by side with our clients”.