The head of Roland Berger wants to increase the company’s sales to one billion dollars by 2024.
(Photo: imago images/Metodi Popow)
Dusseldorf The consulting company Roland Berger is also examining the possibility of an IPO to further finance growth. However, according to financial and industry circles, the considerations are still at a very early stage. The company could be valued at up to two billion euros in such a deal, according to several people familiar with the matter.
The Munich consulting company itself did not want to comment specifically on Wednesday. “After the record year 2021, we want to continue driving our growth. However, we do not comment on market speculation,” said Roland Berger.
The company is aiming for a larger takeover this year, as the Handelsblatt learned from company circles. The Munich-based company could finance this in various ways, via a loan or fresh equity that could flow into the company via an IPO.
According to a person familiar with the process, representatives from Roland Berger have already held initial talks with possible banks: “The considerations are at an early stage. But there is already a dialogue with banks that would support the company in an IPO.” Another insider spoke of considerations for an IPO, possibly as early as 2022.
Top jobs of the day
Find the best jobs now and
be notified by email.
In corporate circles it is disputed that there are already concrete plans or a timetable for an IPO. Internally, no preparations for an IPO have been decided or started.
Roland Berger has not yet presented any results for 2021. In corporate circles it is said that the company has grown at a rate well into the double digits and has exceeded the pre-crisis volume. That would mean that sales in 2021 should have been more than 640 million euros. In the first year of the pandemic, 2020, Roland Berger had sales of 588 million euros and a pre-tax profit of 40 million euros.
The IPO would come as a surprise
An IPO would be a surprising move. Consulting firms actually shy away from the capital market and want to keep control and leadership solely with their partners, who also own the shares. In recent years, numerous providers have broken out of group ties and the associated stock exchange listing and have been celebrating the newly gained entrepreneurial freedom ever since.
One of the few listed providers in the consulting market is the French IT and technology consultancy Capgemini. The rapidly growing provider is currently valued at 15 times the Ebitda on the Paris Stock Exchange, i.e. the profit before taxes, interest and depreciation.
Roland Berger does not publish its Ebitda. According to financial circles, Roland Berger could be valued at a maximum of two billion euros.
Such arithmetic games are more likely to be done on the financial market than in the office of Roland Berger boss Stefan Schaible. He is examining one or more takeovers and has identified candidates for them. The Munich authorities could report completion this year.
Schaible had already explained the takeover plans in an interview with the Handelsblatt last year. In terms of content, the advice wants to be strengthened above all in the dominant topics of digitization, industry 4.0 and sustainability. The goal of the CEO is to increase sales to one billion dollars by 2024, i.e. the equivalent of 880 million euros at current rates.
>> Read about this: Roland Berger attacks: consulting firm plans several acquisitions
The then 265 partners approved the new growth strategy at a meeting in July 2021. However, the requirement was that the majority of the company remained permanently in their hands.
This means that if Roland Berger actually aims for an IPO, only a minority share will go to external shareholders.
The Bloomberg news agency first reported on the stock exchange plans.
More: 143,000 euros basic salary and 27,000 vacancies – this is how it works as a consultant