Expleo continues growth and profitability in 2023

Expleo, the global engineering, technology and consulting services provider, announces continued growth and improved profitability in its 2023 financial results.

The company grew revenue by 8.5% year-on-year, to £1.1bn. Furthermore, Expleo has maintained strong profitability, with an EBITDA (IFRS16) of £126m, up 17% compared with 2022, a margin of over 10%.

Long-term strategy maintains growth

 Since implementing its transformation strategy in 2020, Expleo has achieved three consecutive years of strong growth and profitability. In 2023, the long-term impacts of that strategy’s emphasis on diversification, innovation and digital capabilities have maintained that positive growth trajectory, even in the face of challenging conditions in many key industries.

Expleo’s global organisation locates its experts – which today number more than 19,000 worldwide – in strategic locations to provide the cost-effective high-value digital and engineering skills its customers need.

 In the UK, Expleo delivers programmes across the aerospace, marine, automotive, E&U and BFSI sectors and in 2023 the company carried out innovative work in multiple sectors. These include: partnering Hanwha Aerospace to design and manufacture electro-mechanical actuators (EMA) for Vertical’s VX4 air taxi, developing a complete cyber-resilience testing platform for the automotive sector with the ExpleoSmeeta Briefcase, and the successful launch of its first nanosatellite, ENSO.

EVP of Aero, Space & Defence and Managing Director, UK, Jeff Hoyle, said: “We achieved much to be proud of in the UK and wider global business in 2023. The outlook for 2024 is one of strength and optimism as we continue our mission to help clients with their business transformation, supporting them through change and working together to deliver innovation, develop resilience and become more efficient.”

Sustainable innovation to boost growth

 In 2024, Expleo will target double-digit year-on-year organic growth. This will be achieved by further diversification and targeting high-growth areas while supporting customers to achieve greater operational efficiency and boost innovation in their transformation programmes.

Expleo will also continue to invest in sustainable innovation, with all Expleo R&D projects being aligned to at least one UN Sustainable Development Goal (SDG) to ensure meaningful impact. A global Hackathon, open to all employees, will foster innovation and identify new potential projects and initiatives in the areas of Net Zero and generative AI.

An expanding global network of experts

To meet its ambitions for 2024 and beyond, Expleo will continue its investment in training and developing the skills of its people. It will also hire 6,000 new experts across the Group in 2024 to reinforce and build its capabilities in high-demand areas such as AI, digital engineering, cybersecurity and software development.

Rajesh Krishnamurthy, CEO of Expleo, commented: “While market conditions have posed challenges, we’ve created a robust and resilient organisation based on best-in-class engineering, technology and consulting expertise, which has seen us outperform the industry. In 2024, we enter a new cycle that will build on the platform we’ve put in place to target continued growth by leveraging the latest skills in areas such as generative AI and sustainable innovation to help our clients deliver programmes to create a smarter, safer and greener future.”