SThree reports record performance for the year with double-digit growth across all regions

The Group’s net fees for the financial year ended 30 November 2022 are up 19% YoY, driven by the execution of our strategy.

SThree plc, the only global specialist talent partner focused on roles in Science, Technology, Engineering and Mathematics (‘STEM’), is pleased to announce in today’s FY 2022 trading update, that the Group’s net fees for the financial year ended 30 November 2022 are up 19% YoY(1), driven by the execution of our strategy and demand for STEM skills.

The Group’s three largest countries represent 73% of the Group net fees,  with Germany up 14%, USA up 13% and Netherlands up 34% YoY. Core sectors have also seen strong growth across Technology, up 23% and Engineering, up 27%, with Life Sciences continuing to grow 6% against a very strong prior year comparator.

In line with our strategic focus on flexible talent, Contract net fees are up 23% with Permanent net fees up 6%. Our contract net fees represent 78% of Group net fees, up from 75% in 2021.

Out strong contractor order book(2) is up 19% YoY, providing strong visibility. Meanwhile, productivity(3) is up 7% YoY, reflecting continued strong net fee growth and the quality of our staff and internal recruitment strategy

The balance sheet is robust, with net cash of £65m at 30 November 2022, compared with £58m at 30 November 2021.

Timo Lehne, Chief Executive, commented:

“We have delivered an exceptional performance throughout the period, materially ahead of initial expectations with full year net fee growth of 19% year on year. After my first year as CEO, it is clear that our well-established strategy, focused on STEM and flexible talent, puts us in a unique position to win.

“During the year we continued to make progress in the implementation of our strategy with targeted investment in our people, talent acquisition and digital infrastructure moving forward as planned. This investment is designed to reinforce our long-term sustainable growth, with most of the year’s costs incurred in the second half as planned.

“Towards the end of the year we started to see a softer trading environment, reflecting the uncertain macro-economic conditions, and we continue to monitor the trends across our regions. However, the strength of our contract order book, robust balance sheet and a diverse customer base underpins our business. Our well-established strategy focused on STEM skills and flexible talent is supported by global megatrends, reaffirming our belief that we have the right vision with a unique and resilient business model for the mid to long-term.”

(1) All YoY growth rates in this announcement are expressed at constant currency.

(2) The contractor order book represents value of net fees until contractual end dates, assuming all contractual hours are worked.

(3) Productivity represents value of net fees divided by total headcount.

View our financial results

Notes to editors

SThree plc brings skilled people together to build the future. We are the only global STEM specialist talent partner focused on roles in Science, Technology, Engineering, and Mathematics (‘STEM’), providing permanent and flexible contract talent to a diverse base of over 8,200 clients across 14 countries. Our Group’s c.3,100 staff cover the Technology, Life Sciences, and Engineering sectors. SThree is part of the Industrial Services sector. We are listed on the Premium Segment of the London Stock Exchange’s Main Market, trading with ticker code STEM.

Contact us

SThree Logo STEM Recruitment

Press enquiries

Contact our press team today

Registered address:
75 King William Street,
London, UK

Latest news

21 March 2023

SThree reports 4% net fee increase driven by contract growth across all regions

Q1 trading update sees contract net fees rise by 8% year-on-year, now representing 81% of Group fees, in line with company strategy

30 January 2023

SThree reports record net fee and profit performance

Like-for-like net fees up 19% with profits up 24% driven by successful execution of our well-established strategy

18 November 2022

SThree wins silver at the Learning Technology Awards

SThree’s L&D team have won silver at the 2022 Learning Technologies Awards. The awards recognize the achievements within the learning tec...

15 November 2022

SThree leaders named on SIA’s Staffing Europe 100 and Global Power 150 List

Timo Lehne, Sunnny Ackerman and Karima Green have been recognised on SIA staffing lists

07 October 2022

SThree’s ‘STEM Equity Coalition’ wins American Staffing Association Elevate award

SThree’s ESG team have won the American Staffing Association (ASA) Elevate award for their 'STEM Equity Coalition' programme. Learn more

20 September 2022

SThree’s strong Q3 growth driven by successes across key regions and STEM disciplines

The Group has seen continued YoY growth in our three largest countries with Germany up 13%, USA up 9% and the Netherlands up 36%.

22 August 2022

SThree appoints new Non-Executive Director

Elaine O’Donnell has been appointed Non-Executive Director of SThree plc.

25 July 2022

SThree reports very strong profit growth with record H1 net fees

SThree, the global STEM-specialist talent partner, reports very strong growth in profit before tax in the first half of our financial year.

04 July 2022

SThree publishes a new white paper on ‘How the STEM World Works’

How the STEM World Works’ research examines and reveals the changing expectations of sought-after specialists in STEM