Simac Techniek NV - Comprehensive Analysis Report

Summary

Simac Techniek NV is a deeply rooted and socially involved technology company, established in 1971. Operating primarily in the Benelux and Central Europe, it maintains its status as a family business. The company's core mission revolves around transforming technology into tangible customer value, addressing societal challenges with innovative solutions, and fostering the well-being of its employees. Simac's vision emphasizes continuity, contributing positively to its customers' competitive position, ensuring employee satisfaction, and considering environmental and social impacts. The company is characterized by its professionalism, honesty, reliability, flexibility, and a strong results-oriented approach. Profits are strategically reinvested into strengthening continuity, advancing knowledge, and promoting innovation, aligning entrepreneurial endeavors with broader social objectives. Simac holds a significant position in the IT services and smart solutions sector, providing high-quality technological support to medium and large organizations.

1. Strategic Focus & Objectives

Core Objectives

Simac's central objectives are to supply and maintain high-quality technology that enhances the business processes of medium and large organizations. A key aim is to ensure the optimal functioning of customers' ICT infrastructure to drive their business forward. The company views the design, implementation, and exploitation of technology as a continuous process, aiming to maximize the performance of existing systems while facilitating transformation towards new opportunities.

Specialization Areas

Simac specializes in two primary domains:

Information Technology: This area encompasses a comprehensive suite of IT services, focusing on the design, implementation, and management of IT infrastructures. It also includes the development, construction, and delivery of industry-specific and solution-related applications.

Smart Solutions: This involves delivering highly specialized technology solutions tailored for various niche markets, leveraging advanced technological capabilities.

Target Markets

Simac strategically operates across diverse market segments, including:

Care

Retail

Education

Government

Industry

The company actively develops innovative, integrated solutions through collaborative efforts with both customers and suppliers within these sectors.

2. Financial Overview

Funding History

Simac Techniek NV has a history of strategic investments and has received funding from entities such as Simal Beheer and BOM. The company reinvests a significant portion of its generated profits to ensure continuity, expand knowledge, and drive innovation.

Detailed Breakdown of Recent Investments and Group Structure Changes:

2021:

Increased interest in aQuestora bv from 85% to 100%.

Acquired a 30% interest in Meditools bv.

Expanded interest in Breedband Regio Eindhoven bv from 3% to 5%.

2023:

Acquired a 30% interest in PHI DATA NV, subsequently renamed Simac PHI DATA NV.

Renamed hmb Nederland bv to Simac Results Velsen bv.

Expanded interest in Passengera to 44%.

Financial Performance:

2019: Turnover increased by 6% to €276 million (from €259 million in 2018). Operating result was €11.2 million, with net profits of €7.0 million.

2021: Turnover grew by over 15% from €252 million to €290 million. The operating result before goodwill amortization was €8.1 million, and net profits were €3.7 million.

2022: Net sales increased by 10.0% from €284.7 million to €313.1 million. The operating result decreased from €8.1 million to €3.6 million, primarily due to increased personnel costs and investments in new activities.

2023: Continued positive development in turnover and gross profit. However, operating costs, significantly influenced by wage indexations, led to a €2.9 million decrease in operating result. Financial income and expenses also decreased by €2.4 million, resulting in a net loss of €1.8 million for the year, a decline from a €2.1 million profit in 2022.

3. Product Pipeline

Key Products/Services

Simac offers a diverse range of technology products and services structured around its Information Technology and Smart Solutions pillars:

Information Technology Services: Encompasses the comprehensive design, impartial implementation, and robust management of IT infrastructures. This includes the development and delivery of specialized industry and solution-oriented applications.

Smart Solutions: Provides highly specialized technological solutions targeting various niche markets, with a focus on advanced and innovative applications.

Artificial Intelligence for Operations (AIOps):

Description: Solutions that integrate machine learning algorithms to reduce time spent on events and enhance the proactivity and productivity of operations teams.

Key Features: End-to-end monitoring solutions, correlation of multiple events into manageable alerts.

Target Market: Organizations seeking to optimize IT operations and incident management.

Healthcare Technology Solutions:

Description: Data-driven solutions leveraging smart sensors and advanced AI integration to support clients and automate care processes.

Key Features: Identification and recognition of movements for applications like fall detection or out-of-bed notifications.

Target Market: Healthcare providers and institutions.

Cloud Services (Simac Power Cloud):

Description: Proprietary cloud infrastructure that forms a tangible fixed asset for the company.

Key Features: Provides a secure and scalable platform for various IT services and applications.

Target Market: Medium and large organizations requiring flexible and robust cloud infrastructure.

Cybersecurity Solutions: Services and partnerships focused on strengthening digital defenses and ensuring information security.

Smart Building and Retail IT Solutions: Collaborative offerings with partners to provide integrated technology for modern building management and retail environments.

4. Technology & Innovation

Technology Stack

Simac leverages a robust and forward-looking technology stack, focusing on current and emerging trends:

Core Platforms and Technologies: Cloud services, Internet of Things (IoT), and Artificial Intelligence (AI).

Proprietary Developments: The Simac Power Cloud and various specialized software solutions.

Scientific Methodologies: Integrates advanced AI and machine learning algorithms, particularly in its AIOps offerings, to deliver intelligent operational insights and automation.

Technical Capabilities:

Operates two dedicated service centers for performance management and security.

Offers end-to-end monitoring solutions.

Specializes in data-driven solutions with smart sensors for niche markets like healthcare.

Builds expertise in emerging technologies such as blockchain and the Internet of Things within the Benelux region (Simac ICT Belgium).

Partnerships: Collaborates with key technology vendors, including Moogsoft for AIOps, IBM for data solutions, and Cisco and Fortinet for smart building and cybersecurity.

Certifications: Holds ISO 27001 (Information Security) certification and is actively implementing ISO 27002 (Supplement Information Security), alongside ISO 14001 and ISO 50001 certifications for corporate social responsibility and sustainability.

5. Leadership & Management

Executive Team

Simac Techniek NV is led by an experienced management team, with a strong family business ethos.

Maartje van Schagen: CEO of Simac Techniek NV. Appointed on October 1, 2023, she represents the third generation of leadership within the family business.

Eric van Schagen: Former CEO, now a member of the expanded management board.

Michael van Kasteren: Member of the management board.

Ine Frings: Appointed to strengthen the management board in 2023.

Peter Veraa: Director of Governance, Risk & Compliance, responsible for the company's Corporate Social Responsibility (CSR) policy since 2015.

Recent Leadership Changes

On October 1, 2023, Maartje van Schagen was appointed CEO of Simac Techniek NV, marking a significant leadership transition to the third generation of the founding family. Coinciding with this, the management board of the holding company was expanded in 2023 to include both Maartje van Schagen and Ine Frings, alongside existing members Eric van Schagen and Michael van Kasteren.