Howden reveals full yr 2021 outcomes
Last year’s success is also reflected in the annual accounts, which show record organic growth of 19% (up from 6% for full year 2020) and a 48% increase in sales (from £777m in 2020 to £1,148m) (c .$1,564 million) in 2021) and a 50 per cent increase in EBITDA to £335 million (vs. £223 million in 2020). Pro forma for Aston Lark, the group’s revenue is £1.4bn and EBITDA is £440m.
In addition to its financial and M&A performance, Howden highlighted other key highlights, including the continued attraction of market talent, which has resulted in nearly 1,500 employees joining the group and increasing the total number of employees to approximately 10,500. In 2021, the group also enhanced its long-term capital model and position, welcoming Hg Capital with an initial investment of £500m.
Commenting on the results, David Howden said: “Twenty-eight years after our founding in the UK, our patient and long-term approach of waiting for the right partners to grow the business in our home market has paid off. Joining forces with A-Plan and Aston Lark will place us in a leading position in the UK brokerage market.”
He underlined Howden’s commitment to continental Europe and that it now has offices in 16 countries across the region and is well positioned to replicate its UK position there. The group’s goal is “to build a truly international business,” Howden said, and it already has operations in 45 countries. This international reach has enabled the company to attract over 500 high-level employees worldwide in the last 24 months, he continued, and this ability to attract and develop talent is the driving force behind its results – and the bedrock of its long-term development organically Power.
“At Howden Group,” he said, “we are industrial companies with a highly valued, sustainable business supported by a unique capital model and culture ideally positioned to serve our customers, employees, partners and markets over the long term . So we look forward to 2022 and beyond with great excitement.”