SEC Newgate FY profits raises as earnings rises

LONDON: SEC Newgate’s unaudited outcomes for the year finished December 31, 2024, reveal that business boosted its profits by 16% from the previous year to get to EUR204 million ($ 212 million). Profit gross increased 34% to EUR23.5 million, while underlying incomes (EBITDA) got to EUR33.8 million ($ 24.5 million), a 30% increase.

“The strong results were driven by solid organic growth across the group following a reorganization of the regional and international structure of the business,” it stated.

The worldwide firm credit reports the “positive performance” as being partially because of a restructure that caused five heads of regions being appointed in November 2023.

Jon Silvan and Jef Pollock lead its North America organization, Emma Kane supervises Western EMEA, Sebastian Hejnowski heads Eastern EMEA, Brian Tyson leads in APAC, and SEC Newgate’s president, Fiorenzo Tagliabue, is the acting head of LATAM.

“This new set-up has boosted the Group’s regional sales, with an 86% increase in opportunities engaging different offices across the footprint in 2024,” according to the firm.

In enhancement, the appointment of Cara Rich as global chief growth officer in April 2024 and the development of a devoted group to work with worldwide leads “has started to improve the group’s capacity to convert opportunities at the global level,” it said.

Tagliabue commented, “We are facing an increasingly complex geopolitical picture which is driving demand for our insights, political intelligence and a fully integrated communications offering.”

“As such, we continue to help organizations navigate a world dominated by fast-moving political, economic and societal changes,” he said. 

The latest financial results show that the U.S. is SEC Newgate’s largest market, generating nearly a third of its total revenues, followed by Greece, the U.K., Australia, Mexico and Italy.

Overall, 46% of SEC Newgate’s revenues come from EMEA, 31% from North America, 11% from APAC and 11% being generated from the LATAM region. 

In April 2022, SEC Newgate took a 70% stake in U.S.-based Global Strategy Group. 

Tagliabue said, “Some markets like the U.S.A., Greece and the Balkans, as well as the United Kingdom and Italy, recorded very impressive financial results. We also saw growth in our medium-sized business, including in Spain, Singapore and the Middle East.”

He specified that 2024 “wasn’t just a hugely positive financial year for SEC Newgate, but an operational one too.”

Tagliabue pledged that the agency “will keep building on this momentum and make all necessary investments in talent, technology and new lines of services.”

In 2022, SEC Newgate, which has the eponymous U.K. public relations firm, delisted from the London Stock Exchange when exclusive equity team Three Hills Capital Partners came to be a minority investor.

This tale initially showed up onPRWeek UK