In 2018-19, ENGIE Cofely continued to enjoy sustainable growth in line with previous years, averaging a growth of around 21.2% on the previous year in turnover and a significantly increased margin against the turnover as result of the implementation of digitalisation strategies and diversification into new business lines. 2019 has been a positive year for ENGIE Cofely, with a forecasted growth of 21.2% on turnover. At this stage, 98% of the revenue is secured, and 2% is due for formal instruction in the remaining weeks.
Bart Holsters, general manager, ENGIE Cofely Customer Solutions, and his team have taken the firm from a start-up company with just eight associates in 2010, to a regional leading service provider with now close to 3,000 staff in 2019. Furthermore, the firm has expanded its activities to three additional GCC countries (Saudi, Oman, Kuwait), currently covering five GCC countries (with plans to expand into India and Turkey).
ENGIE Cofely has been fortunate to be awarded 36 contracts (of which 13 are new contracts) within the UAE. Furthermore, the company has maintained a 97.5% retention of the existing contracts.
Holster says: “We anticipate further double-digit growth for 2020 based on current backlog of our ongoing FM services clients and order book for energy retrofit projects across the region.”
Bart Holsters , General Manager