“Konsultkollen” 2021 – The consulting companies increased their profits during the pandemic

Covid-19 struck with full force in the consulting industry last year, and half of the consulting companies saw negative growth rates. However, in terms of results, the companies managed to adjust quickly, and lower costs in combination with state aid led to a profit increase of 10 percent in the industry.

In “Konsultkollen”, Cinode compares the financial statements of over 200 Swedish consulting companies with at least 15 employees.

Half of the consulting companies, despite some acquisitions, had negative growth last year. The pandemic affected the entire industry, especially in Gothenburg, where the Volvo companies drastically reduced the number of consultants.

“At the same time, the consulting industry proved to be a real growth engine. The companies quickly managed to adapt to the new normal and found new ways to attract new customers. Simultaneously, the demand grew stronger during Q3. In 2021, we have seen remarkable growth and a journey back to the pre-pandemic level of consultant shortages” says Mattias Loxi, co-founder of Cinode.

Solita Sweden, Processus, Annevo, and Asurgent have grown significantly, both in terms of sales and the number of employees.

“Smaller and growing companies have seen continued growth during the pandemic while the larger and listed companies have scaled-down and downsized. The smaller specialist companies have taken advantage of their agility, and profited the best.”, says Loxi.

Operating margins increased to 7.1 (6.3) percent during the pandemic, with Lynxeye, Transformant, Agilitec, and McKinsey having the best margins.

“In terms of margins, the consulting industry did, well, thanks to the fact that they have quickly managed to reduce their costs through a reduced number of employees, fewer trips, canceled training, initiatives, and conferences. In addition, they have received grants in the form of state aid. Here, too, we see that the younger and smaller consulting companies have a significantly higher margin”, says Loxi.

On our website, you will find the entire list of all the companies’ sales, employees, profit, and operating margins. https://cinode.com/konsultkollen/