Sycor increased its annual turnover by 16 percent to 98.8 million euros (approx. 110.5 million USD) in the last fiscal year. The company is set to continue its growth this year by pursuing acquisitions and recruiting new employees. Sycor focuses on new strategic business areas and innovative services to ensure it can provide its primarily mid-sized customers with the best possible support for their digital transformation. Ronald Geiger is set to join the management team in May 2019 in addition to the two current managing directors. Sycor’s management wants to work together with the entire team to reorganize Sycor’s structure in the coming months and continue to develop it over the long term.
“2018 was a very positive year for our company group in economic terms. Sycor’s success story began in 1998, and we continued on our path to success in the last fiscal year as well with an increase in turnover of 16 percent to 98.8 million euros (approx. 110.5 million USD) and adequate profitability. The forces at play in the past few months have been very unique, and we would like to thank Sycor’s customers for their loyal cooperation and our employees for the exceptional commitment they showed. They put in an outstanding performance during a very eventful period,” says Managing Director Jochen Schwiersch.
Full support from owner ensures stability and growth
Given the challenges presented by the digital transformation, Ottobock Holding, which is fully owned by the Näder family of entrepreneurs, decided in February to keep Sycor in the Ottobock Group as a strategic asset. The aim is to continue expanding the company into a leading full-service provider for SAP and Microsoft services in the IT consulting market. Sycor will continue to grow this year by recruiting further staff and pursuing acquisitions; the holding company will support these aims by providing Sycor with corresponding financial resources. There are plans to prepare Sycor for the capital market over the medium term.
Sycor focuses on new strategic business areas and innovative services to provide its customers with the best support for their digitalization
“Thanks to a growth strategy that is oriented toward innovations and forward-looking trends, we will enhance our customers’ competitiveness in an increasingly digital world,” says Managing Director Rüdiger Krumes. “In doing so, we focus on challenging new business areas such as Microsoft’s Power Platform, a powerful business application platform, and combining both manufacturers by operating SAP solutions on Microsoft’s Azure cloud platform (SAP on Azure). We will be able to help our customers move forward more rapidly than before thanks to innovative services and by providing them with tailored apps at short notice. We will achieve this with digital processes and reliable services that cover every area of SAP and Microsoft.”
Ronald Geiger to become third managing director of The Sycor Group starting in May 2019
“I’m excited to have the opportunity to play a role in Sycor’s success,” says Ronald Geiger. Geiger will be reinforcing the management team thanks to his experiences in the areas of consulting and organizational management at technology (Capgemini, SAP) as well as industrial firms (BASF, Linde). According to Geiger, one of his first tasks will be to oversee a strategy process that also pursues the goal of rethinking the way Sycor is organized and simplifying its structures. “We want to become faster and more agile so we can understand our customers’ future requirements today. Our goal is to use powerful processes and systems to make our customers even more successful,” Geiger continues.
Sycor focusing on qualitative growth in 2019
Sycor is focusing on qualitative growth in this fiscal year and therefore plans to achieve sales in an amount approximately equal to last year with a team of more than 600 employees. “We want to invest in Sycor this year so we can successfully prepare ourselves for the future. In doing so, our key focus is the satisfaction of our customers and employees – despite all the challenges that lie ahead of us.”