Atlas Knowledge Group has reported robust financial results for 2014/15, with continued growth and further international expansion set to continue.
The leading provider of learning, compliance and competency solutions to safety critical industries around the world has seen a rise in both turnover and profits for the financial year ending 30 September 2015.
Turnover at the company has risen by 1.2% to £7.1 million while earnings before interest, tax, depreciation and amortisation (EBITDA) surged by 62% to £1.7 million.
Atlas Knowledge Group has started the new financial year with £42 million of contracted revenue, which will be delivered over the next 3 - 8 years, including four major international multi-year contract wins in 2014/15 worth £18 million.
In addition, with a strong sales pipeline of opportunities in excess of £22.6 million for 2015/16 and beyond, Atlas has extended its reach into more than 110 countries worldwide.
Chairman Robert Morgan said: “These are outstanding results in the current climate. Our resilient performance, in the face of considerable market disruption and the lowest oil price for more than a decade, has been driven by a strengthened business model.
“This has seen investment in new product lines and technologies, improved operational performance and a successful diversification strategy which has taken the company beyond its traditional upstream oil and gas market.
“We have established pathways into more than 700 new customers, reducing our reliance on the UK Continental Shelf and oil and gas, and a much wider range of products and service options than ever before.”
Atlas’ growth strategy has seen it move into new, adjacent and diversified safety-critical industries around the globe, more than doubling its client base to over 1600 companies. Its technology-led, digital learning solutions are now available to a potential culturally diverse workforce of over 6.4 million people worldwide.
“The fall in oil price and reduced North Sea workforce did impact on domestic business lines with a 21% reduction in revenues from one of our key service lines. However, our drive towards new sectors and regions has paid off with international sales now accounting for 44% of our revenues,” explained Mr Morgan.
Atlas also continued to invest in its people and products throughout the year, ploughing 30% of EBITDA into the evolution of its content library and digital delivery formats.
In total, Atlas launched five new products and 16 new service options across 2014/15, including its Competence Assurance Management System (CAMS) and a worker passport model which allows individuals to take control of their own skills and competence development, manage their training records and increase portability between employers and job markets.
In line with a significant rise in the number of products and services which are accessed via tablets – up from 4.2% in 2013/14 to 24% last year. Atlas continued to invest in the development of multi-platform capabilities and on-demand services.
Mr Morgan added: “Our increased product lines and diversified customer base means that one of our courses or services is now being accessed somewhere in the world every minute of every day. The development and roll-out of new products and technology platforms has allowed us to exceed customers’ expectations in addressing their learning requirements, wherever they are in the world, with easy-to-access solutions, which ensure compliance and competence.
“In addition to a growing requirement for evidence-based technical qualifications we are seeing a continued appetite in the marketplace for smart, innovative and intuitive technologies fit for modern working in today’s business environment.”
Edited from source by Stephanie Roker
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