MUNICH, GERMANY, Jan 28, 2019 – Leading global STEM (Science, Technology, Engineering and Maths) recruiter, SThree plc, has today announced its GP (Gross Profit) for the year ended Nov 30, 2018, was up 12% from £287.7m in 2017 to £321.1m.
This was boosted by a strong performance, which was ahead of expectations, in the German markets (Germany, Austria and Switzerland) where GP was up 21% year on year. Continental Europe as a whole now accounts for 57% of SThree’s GP.The German markets are increasingly important to SThree and Germany is now the recruiter’s largest country of operation. With offices in Munich, Stuttgart, Hamburg, Dusseldorf, Berlin and Frankfurt, and high profile brands specialising in niche sectors (Computer Futures, Progressive, Huxley and Real), the SThree Group is perfectly placed to continue to take advantage of a very competitive but thriving STEM recruitment market.
83% of SThree’s GP now comes from outside of the UK and Ireland and 72% comes from Contract recruitment. The Group’s ongoing strategic focus is weighted towards Contract, a less volatile model than Permanent, whilst SThree’s geographic diversity offsets concerns around political uncertainty in the UK.
Growth in Germany has been particularly boosted this year by the expansion of its Contract service to include ECM (Employed Contractor Model), which was launched in 2017.
tandout sectors for the German markets in 2018 were Life Sciences, where Contract recruitment was up 8% year on year and Engineering, which saw a huge growth of 21% on 2017.
SThree’s Managing Director for Germany, Austria and Switzerland, Timo Lehne, said: “Our niche focus on STEM and being in the right STEM markets is helping us to build a growing reputation, using a multi-brand approach where each brand is highly regarded within its own specialist field. This is a key differentiator for SThree. In technology, for example, where other companies position themselves as IT specialists, we are recognised as experts in specific fields such as JAVA, Salesforce or .Net. This approach is the same across all our markets, so clients know that we can access the very best people for highly skilled positions.
“The Group is becoming increasingly global, but at the same time specialises at a local level. We can source the right people for clients in multiple territories whilst also understanding the nuances and dynamics of each individual market. These include legislative requirements where our local knowledge can help us to advise clients on choosing the right contracts and also help successful candidates navigate the necessary requirements.”
Overall in 2018, the SThree Group saw growth in Information and Communication Technology (ICT) (up 12%), Life Sciences (up 8%), Energy (up 30%) and Engineering (up 16%).