In 2022, GrECo boosted revenues despite a very challenging trading environment.
Key Metrics and Highlights
GrECo International Holding AG increased its total consolidated revenues by 22.7% to 132.2 million EUR in 2022. This substantial growth was driven by extraordinary organic growth combined with major acquisitions. Profits before tax remained stable with 14.9 million EUR in 2022.
Corporate Developments
In line with our risk-based approach, we look at risks from a business perspective. We consider the specific business environment, speak our clients’ language, and understand the challenges they face in their industry sector. For our clients, insurance provides important solutions. We help our clients to properly manage risks in this rapidly changing environment and turn challenges into opportunities before they result in losses.
Our specialty-led approach is the core element of our corporate strategy. To support it, we have attracted the best talents and have formed industry-focused practices to provide our clients with innovative concepts that meet their specific needs. This solid foundation thrives on our teams’ outstanding quality of work, their commitment and passion as well as an unwavering focus on achieving the best results for our clients in an increasingly complex risk environment.
Attracting and developing talent is at the heart of our strategy
Being an attractive place to work is of paramount importance to us. As the global economy changes and risk and insurance management services become more complex, we are investing heavily to stay at the forefront with the specialist knowledge, skills and abilities that are important for the future. Therefore, we will continue to devote significant resources to attracting and developing talented people and creating an environment where talent thrives.
Outlook
While the Group considers the factors within its control intact, external factors, such as the ongoing war in the Ukraine, related sanctions, increasing inflation and the potential of further disruptions in supply chains, present a serious risk. However, we remain confident that our core businesses will continue their solid performance and believe that our client-focused specialty strategy will fuel our growth over the long term.
Our strong growth, both organically and inorganically, confirms that we are on the right track with our corporate strategy. It also shows that talent, entrepreneurs and brokers are interested in joining our enthralling course. A financially sound and competitive company with outstanding employees has been the foundation of GrECo’s journey so far. Before we continue our exciting journey, we want to thank all our great colleagues: We greatly appreciate and always admire the outstanding efforts and value you contribute every day!
Ante Banovac
Executive Board Member/COO
T +43 5 04 04 372
Georg Winter
CEO GrECo Group
T +43 664 962 39 06
Georg Neubrand
CFO
T +43 664 402 60 54
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