Materna reports 21.5% revenue growth for 2023
IT service provider Materna-Gruppe increased its revenue by 21.5% to €673 million in 2023, demonstrating strong financial performance and market position.
The IT consulting and digitalization company Materna-Gruppe announced a 21.5% increase in its 2023 revenue, reaching €673 million, with 20% of this growth being organic. The company also reported a positive development in its operating profit and a strengthened market position.
Materna's workforce expanded significantly by over 630 employees, bringing the group's global headcount to approximately 4,400. CEO Michael Hagedorn stated that the growth is stable and well above the industry average, emphasizing the ambitious goals set by the new GRIP2 strategy.
The company aims to achieve a revenue of one billion euros by 2027, with a strategy to further solidify its market-leading position through the adoption of artificial intelligence (AI). Materna supports its clients, both businesses and public sector organizations, in implementing AI across various business areas. Investments in employee development opportunities are also part of the growth strategy.
Notably, Materna has been active in the AI sector, undertaking several projects including a partnership with Aleph Alpha and developing Generative AI Factory solutions for public and economic sectors. The digitalization of public administration, encompassing electronic archives and registry modernization, also contributed significantly, leading to a 30% increase in the Public Sector business unit. AI-powered chatbots, named Bundesbots, are enhancing information dissemination within public services.