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Advania, the Goldman Sachs Asset Management portfolio company headquartered in Sweden, has announced its FY24 results.
Gross revenue (which includes agent software sales) hit SEK 17.2bn (roughly £1.34bn). Net revenue came in at SEK 15.1bn (+11.3%) but including the impact of acquisitions was SEK 18.4bn. The adjusted EBITBA margin was 11.8%. Advania has c.4,800 employees and more than 30,000. It is a reseller of hardware and software and provides services covering cloud, cyber, infrastructure solutions, and managed services.
There has been quite some activity in the UK business during the financial year. In June 2024, the company acquired Servium. This built on the 2021 acquisition of Content+Cloud. Then later in 2024, Advania acquired CCS Media. The acquired businesses add breadth to the Advania UK business, which is led by CEO, Geoff Kneen. This year he moved James Hardy (Chief Commercial Officer) and Paul Barlow (Chief Revenue Officer) into leadership roles from their existing positions in CCS and Servium respectively. We estimate about half of the UK’s revenue is derived from resale.
With healthy financials, a growing footprint in the mid-markets of Northern Europe, and the backing of Golman Sachs, Advania is most definitely one to watch.
Posted by: Kate Hanaghan at 10:57
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