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Press
100 million revenue threshold exceeded: mgm technology partners reaches huge milestone

05/11/2022

  • After 28 years of near constant development, mgm technology partners reaches turnover of over €100 million in fiscal year 2021 (according to HGB)
  • One growth driver is the Low Code Platform A12
  • On average, over 870 permanent employees worked for mgm over the year

Munich, 11/05/2022 – Great news from mgm: according to the German Commercial Code (HGB), the tech company mgm technology partners (mgm) has achieved revenue of over €100 million for the first time. Revenue for the fiscal year 2021 totalled €103.2 million, corresponding to an increase of 21.1%. EBIT amounted to €17.9 million. Growth was also evident in the number of employees: over 870 permanent employees worked for mgm Group companies on average throughout the year (previous year: 763). mgm technology partners is a segment of the publicly listed Allgeier SE (ISIN DE000A2GS633, WKN A2GS63). Allgeier SE published the figures, calculated according to IFRS, on 29 April 2022 in the Group Annual Report 2021.

mgm management can certainly look back on yet another incredibly successful year of growth for the company, which was founded in 1994. “For us, a long-awaited dream is coming to fruition. We’ve reached an important milestone in our development, which we’re very proud of. We want to use this momentum to continue to grow significantly in the future,” states Hamarz Mehmanesh, mgm CEO.

2021’s foundation: industrial software production with the Low Code Platform A12

The positive business figures for 2021 are rooted in various factors, including many years of investments in increasing efficiency in the implementation of enterprise business applications. The revenue share of projects in which the scalable A12 technologies are largely used is constantly increasing, and currently stands at just under 60%. Dr Steffen Weber, member of the Management Team, states: “Our focus on cutting-edge platform technologies and the strong demand for our digitalisation services should accelerate our growth. For example, significant interest in the A12 platform from cloud providers will lead to further revenue boosts in the future.” In the meantime, all three of mgm’s core sectors (commerce/retail, insurance, public sector) are benefiting from the platform services.

About mgm

mgm technology partners develops enterprise applications primarily for the commerce, insurance and public sector industries. In doing so, mgm follows the digital sovereignty approach, according to which organisations retain sovereignty and knowledge of their own IT systems. Founded in 1994, the tech company is headquartered in Munich and boasts a total of 17 offices in Germany and abroad, including offices in the major metropolitan centres of Berlin, Hamburg, Cologne, Prague, Da Nang (Vietnam) and Washington D.C. (USA). Approximately 850 employees in seven countries work for mgm. Since 2006, mgm has been a Division of Allgeier SE in Munich. Hamarz Mehmanesh, a shareholder and one of the company’s founders, remains at the helm. Together with its specialised subsidiaries, mgm consulting partners (experts in CIO advisory services, organisational development and change management), mgm security partners (web application security services) and mgm integration partners (SAP process optimisation), mgm provides a comprehensive range of digitalisation services.

www.mgm-tp.com