2023 financial statements just published

Despite a mild decline on the top line and in gross profit, Epico-IT A/S, one of Denmark's largest consulting and recruitment houses, still maintains a double-digit million bottom line, according to the company's recently published 2023 financial statements.

Total DKK 11.8 million. This was achieved in profit before tax for 2023. Epico Group has begun to strengthen the organization, the company's processes and the implementation of a new business platform, the group writes. In addition, the Group invested in the organisation and new digital systems during the financial year, which will contribute to Epico Group's leading position in the Nordic region and parts of the EU. Among other things, this has led to the birth of a new business area. And that strategy will pay off as early as 2024, says the company's CEO:

"In 2023, we have had our eyes firmly fixed on maintaining profitability, while at the same time investing in the organization and systems as well as new business areas. We continue to focus on profitability and growth, and this is where consulting services in managed services in particular will play a central role. This is happening through the expansion of the business area, Epico Tech, to Denmark, which is part of a larger growth strategy, where we are taking a big step forward in the direction of cross-selling more services to more customers across national borders, and therefore we are keeping our eyes extra open right now; if new expansion opportunities or acquisition opportunities arise that can support our growth strategy," says Michelle Mark, CEO of Epico Denmark, who at this time will not say who and when.

Managed Service to Denmark with Epico Tech

Epico Tech is a business arm started in Sweden, specializing in Oracle, Mainframe, AI and Managed Service, among other things, and thus Epico is moving into an up-trending business area that will be a natural expansion of the consulting firm's business areas in Denmark, Michelle Mark assesses. At the turn of the year, Toke Feilberg Friborg has been hired to lead Epico Tech in Denmark, who has over twenty years of experience in delivering solutions within digital transformations, and with the great success experienced with Epico Tech in Sweden, it is therefore only natural to expand the business to Denmark to challenge the existing paradigms in his home country:

"At Epico Tech, we possess a high level of professional expertise in 'Managed Service' and can thus help customers who do not have the capacity to handle the enormous digitalization that is needed in companies today - either to get ahead of the curve or just keep up with developments," says Toke Feilberg Friborg, who took over as CEO of Epico Tech in December 2023.

From 'end-to-end' to upskilling in-house

As something new, Epico Tech in Denmark will assist customers with both Managed Services and end-to-end solutions and thus take responsibility for projects and deliveries with both permanent teams and consultants on a freelance basis. Thus, Epico expands the palette in Denmark to also assist customers who do not have the competencies in-house and can thus help kickstart the development journey with the customers, so that they finally have an upgraded in-house department themselves, Toke Friborg elaborates:

"The need for digitalization continues to increase significantly. It can be difficult to keep up with developments, and not all companies have the resources or skills to do so. Trust has always been a key word for Epico, and it is therefore also for Epico TECH. Therefore, it is absolutely important for us not to have a technological starting point or preferred solution, but instead to advise customers independently and as needed. I believe that when we can offer a wider range of business services to customers, we can always help them in the specific challenge they are facing," concludes Toke Feilberg Friborg.

Written by Sara Høyer