Sword Group : 1st step in integrating Artificial Intelligence into its business model: AAA subsidiary put up for sale as of 31/05/23

By Globe Newswire Published on June 6, 2023, 21:18 IST

Sword Group is working on a strategic plan for the transition and integration of Artificial Intelligence into its activities.

In response to the challenge posed by AI, Sword will adapt its development to the changes that this technology will generate.

The sale of AAA, a specialist recruitment and staffing company based in Aberdeen, Scotland, with annual revenue of €26m (2022) is part of the 1st phase of this plan.

This company will be deconsolidated from the PnL as of 31 May 2023.

AAA’s profitability is in line with its market value. Consequently, this disposal will increase the Group’s profitability.

The profitability target (EBITDA margin) is raised by around 1 percentage point as of 1st July 2023, to 13%.

In gross value figures, the 2023 EBITDA target remains unchanged at €36m.

This change in scope will also have a positive impact on the Group’s organic growth rate.

This plan, based on agility and the rapid evolution of technologies, will be presented in the 2nd half of 2023.

Agenda

20/07/23
2023 Second Quarter Revenue

07/09/23
2023 Half Year Results Presentation Meeting, 10am, Paris, Registration

About Sword Group

Sword has 3,000+ IT/Digital specialists

in 50+ countries to accompany you in the growth of your organisation in the digital age.

As a leader in technological and digital transformation, Sword has a solid reputation in complex IT & business project management.

Sword optimises your processes and enhances your data.

Sword Group – 2, rue d’Arlon L-8399 Windhof – [email protected]

Attachment

SwordGroup_AI_PutupforSaleAAA 06062023 FV

Disclaimer: The above press release comes to you under an arrangement with GlobeNewswire. TheTechOutlook.com takes no editorial responsibility for the same.