Baar (pta009/27.05.2022/09:30) - 2021 annual results reflect COVID 19 impact, basis for the future strengthened
CAG International AG, headquartered in Baar, Switzerland and listed on the direct market of the Vienna Stock Exchange, looks back on 2021 as a year of transition. The impact of the COVID 19 pandemic and the resulting significant slowdown in the markets have severely delayed the company's expansion plans and impacted business development accordingly. CAG International AG, which focuses on agile business management consulting and outsourced online training solutions, has addressed these challenges with several strategic measures over the past year: These include further cost reductions, an improvement in the range of online learning tools, the targeted search for strategic alliances and acquisition opportunities, plus the creation of the necessary conditions for acquisitions.
These measures enabled CAG International to stabilize and achieve slight improvements in earnings. The acquisition of the consulting firm Haig Barrett Consulting, a specialized corporate advisor with offices in London / UK and in the US in Dallas, Los Angeles and Chicago, was initiated in 2021 and completed in the first quarter of 2022. This marked an important step for CAG International in its business expansion and has laid a good foundation for future development.
In its consolidated financial report 2021, CAG International's operating revenue amounted to CHF 1.28 million, an increase of around 10% compared to 2020 (2020: CHF 1.17 million). The increase in revenue could be achieved on the same cost base. Main contributor was the operating Swedish subsidiary, which was able to increase sales despite strong headwinds in the market. The net result of CAG International has also improved by around 12% compared to the previous year, although it remained negative due to the acquisition of Haig Barrett and the pandemic-related slowdown. It amounted to CHF minus 699,616 (2020: CHF minus 812,968).
"Some of our plans were set back by more than one year due to the pandemic market environment. Nevertheless, we have made successful strides in 2021 and are now actively building CAG International into a major player in the business agility, digital learning and world-class business consulting market," says Hans Amell, Chairman and CEO of CAG International.
In the current year, CAG International will continue to focus on growing its business. Three key pillars are to be strengthened: Among them is the marketing and sales of the company's proprietary "Radical Business Agility" toolbox and consulting for the implementation of Corporate Agility in multinational companies. These proven tools and services range from intensive, directly implementable agility workshops to long-term radical agility improvement programs that also include management consulting and specialized agility training. Additionally, the company aims to conclude further long-term contracts for the delivery of training and e-learning in the context of digital training. Furthermore, CAG International plans to increase sales of its COREÔ (CarveOut-Sourcing) model to companies, which measurably improves the results of training departments while reducing costs.
"The year 2021 has once again proven that business agility is now a must to survive ever-increasing market turbulence and ever-shortening business cycles. In 2022, we intend to put more of our experience and Business Agility tools at the service of companies that want to be able to cope with this changing environment in the future," concludes CEO Hans Amell.
CAG International AG
Phone: +41 41 767 08 05(end)