Endava announces 43% increase in revenues to over £40m

Endava announces 43% increase in revenues to over £40m

Endava, a leading IT Services company with over 1,250 employees, headquartered in London and with delivery centres in Eastern Europe, announces a 43% increase in revenues to £42.6 million / $66.8 million for the 2012/2013 financial year.

Over 60% of Endava’s revenues come from customers in the financial services sector – specifically in payments, insurance and banking segments. The remaining revenues are generated from clients in media & publishing, retail, telecommunication and travel sectors – where Endava has a strong focus and expertise.

John Cotterell, Endava’s Chief Executive Officer said, “We are benefiting from clients using us for complex IT projects – as complementary location to traditional offshore locations and also from customers nearshoring activities that were previously conducted onshore. We are also committed to expanding all our existing locations in Eastern Europe over the next few years. Last year we delivered 87% of our work nearshore, which contrasts extremely favourably with the average 70% achieved by Indian offshore businesses, making Endava an attractive value proposition for customers.”

Growth on web, mobile and social networking solutions

Endava’s traditional application development and management, and testing services continue to grow  by taking  market share from the traditional offshore locations, while the Digital Media division is witnessing accelerated growth as the trend for ‘businesses’ to transform into ‘Digital Busnesses’continues.

Endava’s Digital Media business covers web, mobile and social networking solutions.  In the past year, Endava has won a number of prestigious awards, which recognize its achievements in digital media, including ranking at 17 in the top 100 Digital Agencies 2013 and a nomination in the Digital Impact Awards. 2012.

Focus on large customers

Endava is increasing its focus on big multinational customers, who have the capability to significantly expand their activities with Endava. Currently, nearly 75% of Endava’s revenues are derived from customers spending annually over 2 million Euros on IT projects.

“The increase in volume of our large customer base, accounts for most of our overall growth, and is expected to be a major driver for our future business development. It is important for us to underline and develop these key relationships”, added Cotterell.

Working with large customers, enables Endava to achieve a significant growth in headcount in its Eastern European delivery centres. For example, for a major Payments provider,  Endava is delivering 15 projects, with teams that total over 200 employees across several locations in Romania and Moldova.

About Endava

Endava is a privately owned IT services company established in 2000. With over 1,250 full time employees, Endava currently has 8 offices across the UK, USA, Romania and Moldova and has an annual revenue of over £42.6 million / $66.8 million.

Endava deliver, build and run mission critical IT Services and Business & Digital solutions, for some of the world’s leading companies in the Banking & Payments, Insurance, Telecommunications, Retail, Consumer Goods, & Travel and Media, Tech & Publishing sectors. Endava is specialized in delivering services such as: Application Development, Digital Media, Independent Testing, Application Management and Cloud Services.

Endava is among the top 100 outsourcers worldwide and one of the fastest growing technology companies in the UK and Europe.

Source: Envada

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