EFS registers record high 21% CAGR revenue growth in last five years
[UAE, April 11, 2017] – EFS Facilities Services, a regional leader in delivering integrated facilities management services across the Middle East, North Africa, South Asia, today announced the landmark achievement of securing more than US $1 Billion (AED 3.67 Billion) worth of ongoing contracts globally, for the first time in its history.
The significant milestone was accomplished on the back of the USD 200 million worth of project wins secured in 2017 from various key markets, including UAE, KSA, Qatar, and India. EFS also strengthened its revenue stream amidst an overarching economic slowdown in the region, achieving steady and robust revenue growth, representing a commendable 21% CAGR growth in revenue in the last 5 years.
Tariq Chauhan, Group CEO, commented on the achievement by stating: “We are extremely delighted to have crossed the psychological (and financially significant) barrier of US $1 Billion in ongoing contracts backlog. This was a major milestone that we’d set for ourselves and we are proud of the sincere efforts, motivation, and innovation that EFS personnel have demonstrated to our clients across the region. The satisfaction and trust that we’ve earned from our clients is one of the significant influencers that have helped us expand our global operational footprint to cover more than 20 key markets across MENASA (Middle East, North Africa & South Asia).
Our business progress is best demonstrated by the fact that today, we manage over 350 Million Sq. Ft. of built up commercial & residential space for several Fortune 500 companies across the MENASA region. Our client retention rate of 97%, and the sustained growth of our revenue stream in the last five years, perfectly demonstrate our regional market leadership position.
Our clients believe in the value of our services and offerings, and support our commitments to improving sustainability initiatives such as energy savings and water conservation. Our rigorous adherence to service excellence, persistent focus on deliverance, and an engaged management approach that works in close collaboration with our clients to help them achieve their business objectives, have become the hallmark of our brand’s reputation and our client relationships.
EFS will remain at the forefront of pioneering and introducing cutting edge technologies in the industry, and recently launched an innovative fully integrated IT platform called FMPRO. Developed entirely in-house, FMPRO is a game changer that improves service delivery, reduces down time, leads to rationalization of operating costs and ensures transparency across all facets of service delivery models. We will continue to boost our investment in management information systems to improve the spectrum of benefits we can offer and share with our clients.
We have earmarked 2017 as a year of consolidation of our business fundamentals, and strategic expansion into newer markets and lucrative sectors, to fuel our growth. We foresee sustained midterm growth in our key markets of UAE, KSA, Qatar, Egypt, and India, driven by the rising demands of growing population. We will also infuse new ideas and fresh out of the box thinking by growing our global workforce which currently exceeds more than 15,000 skilled and experienced personnel. 2017 will also be the year where we reinvigorate the Training and Development of our employees to empower us to evolve and enable us to move ahead onto the next phase of growth.”