SThree, the world’s only global pure-play specialist staffing business focused on roles in STEM, has delivered full-year results for the year ended 30 November 2021, with record profit performance and net fees at an all-time high.
We’ve generated a record profit before tax of £60 million for the Group, up 111% compared to 2020. The increased demand for STEM skills, and the focused execution of our strategy, has driven this record performance.
Our net fees have grown and are up 19% year-on-year (YoY). And there has been significant YoY net fee growth in our three largest countries, Germany (23%), the USA (24%) and the Netherlands (19%), which make up 74% of Group net fees.
Similarly, our contractor order book is up 43% YoY, and Contract and Permanent nets fees have grown 17% and 24%, respectively. We’ve also seen growth across the Group in the Technology, Life Sciences and Engineering sectors.
Due to 2020 being significantly impacted by Covid-19, we’ve also measured our performance against 2019 levels. Our full-year net fees are up 9% compared to two years ago and are also up strongly in Germany, the USA and the Netherlands. In addition, our adjusted profit before tax is up 7% versus 2019.
Due to the strength of our contractor order book and our recent trading tracking ahead of expectations, we’re now anticipating double-digit net fee and profit growth for 2022.
We’re continuing to demonstrate our ESG commitments through growing our renewables business, which is up 22% compared to 2020. And we’re ahead of our target to double the share of this business from 2019 to 2024. In 2021, we also positively impacted over 33,000 lives globally.
Timo Lehne (pictured), Interim CEO, commented:
"Having been part of the Group for over 16 years and leading its most successful region, I am delighted to take on the role of Interim CEO and continue to help the Group deliver excellent results.
“Our record-breaking full-year performance, with profits up 111%, demonstrates that we have a robust strategy focusing on STEM and flexible working, implemented by a talented management team and the hard work of our people globally.
“As the market rebounded in 2021 following the impact of Covid-19, we saw demand for STEM skills increase across all of our key markets. Whether it is engineers building green infrastructure, developers aiding digital transformation or the scientists helping to develop the next life-changing drug, we are proud to have placed more than 22,000 skilled people and, combined with our ESG efforts, we impacted over 33,000 lives this financial year.
“Within our contractor markets, we see particular client demand for our employed contractor model, a market segment where we lead in many countries, and now accounts for 32% of Group net fees.
“I am confident and excited about the future of SThree. Momentum is strong and demand for the talent we provide is expanding, driving anticipated double-digit growth in FY22. We are well positioned, we demonstrated our ability to navigate through unforeseen challenges, such as Covid-19, and we continue to evolve our delivery model.
“We will further invest in our infrastructure and our people in 2022, enhancing our Group-wide platform to drive accelerated margins in future years. We remain positive about our growth prospects as we continue to position ourselves as the leading STEM talent provider in the best global STEM markets.”
Notes to editors
SThree plc brings skilled people together to build the future. It is the only global pure-play specialist staffing business focused on roles in science, technology, engineering and mathematics (‘STEM’), providing permanent and flexible contract talent to a diverse base of more than 9,000 clients in 14 countries.
The Group’s c.2,700 staff cover the technology, life sciences, engineering, banking and finance sectors.
SThree plc is quoted on the Premium Segment of the Official List of the Financial Conduct Authority under the ticker symbol STEM and also has a US level one ADR facility, symbol SERTY.
Latest news from SThree
SThree reports strong third-quarter results for 2021
Net fees up 29% y-o-y and full-year profits are expected to be significantly ahead of consensus.
Timo Lehne appointed CEO of SThree plc
SThree plc is pleased to announce the appointment of Timo Lehne as permanent Chief Executive Officer with immediate effect.
Break the bias: how we can empower more women in STEM
Women in Tech founder discusses how bias against women in STEM fields can be countered by increasing levels of female participation.
Sunny Ackerman is named one of North America's 100 most influential leaders in staffing
President of SThree Americas has been recognised on the Staffing Industry Analysts’ (SIA) Staffing 100 North America list for 2022.
2021 Annual Report: Discover how SThree is delivering STEM talent
Read how SThree is connecting sought-after STEM specialists with pioneering global companies in our 2021 Annual Report and TCFD statement.
SThree appoints new Chief Technology and Information Officer
Nick Folkes takes on role of Chief Technology and Information Officer, having been in the role as an interim since October 2021.
SThree ranks top in Support Services sector in Britain’s Most Admired Companies 2021
Study published by Management Today puts SThree first in eight of the 13 key criteria.
SThree named ‘Top Employer’ in Germany for a ninth consecutive year
Top Employer Institute recognises our approach to creating a positive culture and supporting colleagues.
Placing specialist life science skills with a global leader in Covid-19 vaccine development
Seeking people with extensive experience for roles that were essential for the development and delivery of a Covid-19 vaccine.
Building a diverse and inclusive workforce for the 21st century
How partnering with Schneider Electric, recognised as one of the world's most sustainable companies, helped build a better future.
SThree delivers record full-year net fee performance with strong growth across all major geographies
Increased demand for STEM skills and execution of our strategy sees net fees rise 19% year-on-year, to £355.7m, up 9% versus 2019.
Finding reliable talent for a utility-scale solar farm construction project
How ENGIE, a global leader in sustainable energy solutions, began construction on a 200-megawatt utility-scale solar farm in Anson, Texas
Unexpected error: .NET Consultant needed urgently
Whether it’s a 24-month contract, or a 2-day contract, every day we partner exceptional contractors with pioneering companies.
Building a diverse workforce in the Asia Pacific region
Assisting our financial services client to map the market and source candidates from diverse backgrounds.
SThree awarded Company of the Year at the 2021 European Diversity Awards
EDA awards are firmly established as the continent’s most prestigious and widely respected diversity event.
Samira Alimohammad named on SIA list of most influential women in staffing
Vice-President and General Counsel of SThree Americas, recognised as one of the most influential women in staffing in North America.
Being a climate conscious business
How climate change is affecting our business and the STEM markets we operate in with independent sustainability consultancy Avieco.
Empowering our colleagues to help the environment
Everyone at SThree gets 40 paid volunteering hours a year. Read about how our teams around the world are helping the environment.