The global BPTO company based in Zagreb achieved 126.9 million euros in revenue, and its EBITDA grew by 17 percent during the first half of 2023
Zagreb, August 7th, 2023 – The company Meritus ulaganja d.d. (ZSE:MRUL) and its subsidiaries (Mplus Group) generated 127 million euros in revenue in the first half of 2023, which is an increase of 52 percent compared to the same period last year. The Mplus Group also managed to increase EBITDA, which grew by 17 percent and reached 12 million euros. The Mplus Group’s adjusted EBITDA, considering adjustments for the earthquake in Turkey and other normalization items, was 16 million euros, reflecting a 40 percent increase.
The Mplus Group continues to implement its investment strategy, which has, among other things, resulted in organic revenue growth of over 20 percent in its BPTO operations over three consecutive quarters. This organic growth is the result of investments in both the operational and IT business segments. In 2023, additional investments were made in the products offered by the Mplus Group within its BPTO operations, the culmination of which is visible in the launch of Buzzeasy, an AI-based communication platform that transforms chat into a multi-purpose contact center, providing a simple and practical user experience.
The strong revenue growth of the Mplus Group is a result of organic growth in the BPTO operations segment, as well as expansion in the HR segment through the acquisition of Workplace Group. The BPTO operations generated total revenue of 100 million euros in the first half of the year, representing a 26 percent increase compared to the same period last year. The remaining revenue growth is attributed to the acquisition of HR operations, consolidated since April 1st, resulting in revenues of 24 million euros for the period up to June 30th.
“The Mplus Group’s success is based on three key values – operational excellence, efficiency, and speed. These values form the core of our business strategy and are the key to our sustainable growth and success in the market. We strive to be industry leaders, providing innovative and high-quality products and services to our customers worldwide. We have ambitious plans in the field of integrated human resources management, selection, and employment services, in which we will initiate the application of scalable technological solutions and implement best practices to position ourselves as one of the leading European providers of HR services. The results for the first half of the year show the success of our strategy and commitment to ensuring the sustainable growth of Mplus Group.” — Darko Horvat, President of the Management Board
During the past period, the acquisition in the HR business segment was significant for the Mplus Group’s revenues. Since the beginning of April, the Group’s HR vertical has been operating through the work of 18 companies in seven countries under the umbrella brand Workplace, under which it employs over 1,800 people. In the mentioned period, the Mplus Group launched the Mplus Elevate leadership program in partnership with the IEDC-Bled School of Management. This program spans nine months and addresses key management challenges of the future, including the impact of new technologies and sustainability. Furthermore, the Mplus Group issued its third Sustainability Report in accordance with the Consolidated set of GRI Standards for the year 2022.
You can read the full press release in Croatian here.