Turnover SD Worx increases by 4% in 2013 to 256 million euros

11 June 2014

Brussels, 11 June 2014 – In 2013, the turnover of SD Worx increased by 4% to 256 million euros. In Belgium, the HR service provider maintains its position as national market leader with 913.200 salary calculations per month. Internationally, SD Worx recorded a remarkable result, with a growth of 5,7% and the addition of Slovenia as 28th country to its network. SD Worx aims to concentrate further on sustainable growth and thus is focusing, in addition to its international expansion, on sector-specific solutions and innovation, in which the wishes and the needs of clients are always central.

Good operational results in several key areas

In 2013, the turnover of SD Worx increased by 4% to 256 million euro. Compared to the previous year, however, profit was down from 11 to 2 million euro due to a general decrease in financial revenue, attributable to the historically low interest rates.

SD Worx provided Payroll Services to more than 5.000 new Belgian SMEs in 2013 for a global client portfolio of 41.700 SMEs: a remarkable result. Furthermore, new payroll projects were launched with major players in the market such as the Belgian postal service bpost and AG Insurance. Both are now working together with SD Worx via the SAP payroll solution.

SD Worx also recorded good operational results in its other activities. SD Worx Consulting experienced a remarkable growth of 5%, mainly attributable to Reward and Legal Consultancy. In the SD Worx Learning activity, the service provider recorded growth of 4% and a market share of 15,4%, even though the training market shrank in general by 4% according to official figures from the Belgian federation of HR service providers Federgon.

Steven Van Hoorebeke, managing director of SD Worx, explains: “Despite the volatile economic context, we experienced good results in 2013, globally as well as in our various activities. We aim for sustainable growth via continuous investments in innovative custom solutions, technology, sector-specific solutions and our international expansion.”

Belgian market leader with an eye for sector-specific solutions

SD Worx presently has a portfolio of 48.400 clients in Belgium and handles 913.200 salary calculations on a monthly basis.

For a number of years now, SD Worx has been investing in offering sector-specific solutions in order to focus on the wishes and the needs of clients in various sectors.

For example, SD Worx developed payroll software tailored to the healthcare industry and it created adapted modules for the transport and construction sectors. For the retail sector, SD Worx – in partnership with Protime – developed a workforce management and planning tool with which retailers can predict the number of employees they will need per shop, based on previous turnover and present staffing levels.

International growth strategy

Each month, SD Worx handles more than 1.2 million salary calculations in Europe from its own establishments and 5.5 million salary calculations in partnership with the Payroll Services Alliance. With a growth of 5,7%, SD Worx scored well internationally in 2013, both in the individual countries and in its multicountry services. In the past years, SD Worx has gained a strong foothold in Europe thanks to its own SD Worx network in Belgium, the Netherlands, Luxembourg, France and Germany and via integration of the Payroll Services Alliance.

SD Worx further developed its international activities in 2013. It added not only Slovenia to its network as 28th country, but also opened a new international hub in Brussels. With this new office, SD Worx is extending a hand to the many international institutions and organisations in Brussels, and is developing a hub for numerous European activities.

Innovation potential as important pillar of sustainable growth strategy

“In addition to the focus on our international expansion, innovation is also central to our sustainable growth strategy. As such, we find it important to respond to today's social challenges such as mobility, technological change and the end-of-career issue. This year, we focused on several projects around metrics, the retention and stimulation of talent, mobility, and working longer," explains Steven Van Hoorebeke.

In the area of metrics, we created the HR Performance Dashboard, a measurement tool for HR managers. This tool measures and analyses HR data to clarify the correlation between HR strategy and its consequences.

Furthermore, SD Worx signed a cooperation agreement with Cornerstone OnDemand, world leader in talent management software, and with PeopleXS, an e-recruitment solution. When combined with its own solutions, the result is a strong range of HR software services.

In Belgium, SD Worx is contributing to a legislative proposal for a flexible mobility budget to replace the traditional company car. A mobility budget allows employees to allocate a set amount to a wide range of transport means.

Finally, together with a number of major players, SD Worx developed end-of-career plans for older employees. With this, the service provider is not only emphasizing the importance of end-of-career paths, but it also succeeds in formulating a solution at both legal and HR level.

Annual report 2013

Discover the annual report 2013 of SD Worx here.

More information

For more information, please contact:

Tania Deswelgh, SD Worx, 03/220 22 31 or 0479/98 55 92
E-mail: tania.deswelgh@sdworx.com  

Saar Bentein, Grayling, 02/713 07 33 or 0477/45 75 43
E-mail: saar.bentein@grayling.com  

SD Worx offers full service in the Payroll, HR and Tax & Legal areas in 28 European countries. 2.000 employees serve more than 51.000 clients in the private and public sector, from SMEs to very large organisations. The company provides services such as salary calculation, payroll administration, training, HR-research, socio-legal, fiscal and HR consultancy, specialised software for personnel departments and on-site support.

SD Worx calculates more than 1.200.000 salaries every month and has, among other facilities, its own offices in Antwerp (HQ), Berlin, Breda, Brussels, Frankfurt, Ghent, Hasselt, Kortrijk, Liege, Louvain-La-Neuve, Luxembourg, and Paris. SD Worx is a joint founder of the Payroll Services Alliance, which is responsible for 5.500.000 salary calculations.