Turnover up 12.5 percent at Method Park
2019 was the most successful year in the Method Park Group’s history. With consulting, support, and products for Software & Systems Engineering, Method Park generated a total turnover of EUR 21.185 million, a 12.5 percent increase compared to 2018.
Method Park reported several sales drivers. The company more than doubled its turnover in the US market (+54 percent) and generated a 15 percent increase to EUR 9.1 million with engineering services. The Training & Consulting sector boosted its turnover significantly and more than doubled its in-house training courses compared to 2019. Method Park also reported a record turnover with its process management tool Stages and achieved a 38 percent increase in Stages consulting and license sales amounting to over EUR 2 million. "Our product developers successfully brought the new Stages versions V7.3 and V7.4 to the market in 2019 and significantly contributed to this record turnover," explains Method Park CTO Dr. Erich Meier.
Breakdown of turnover by business unit
The turnover by business units remained stable in 2019 and distributes as follows: 28 percent for Products, 32 percent for Training & Consulting, and 40 percent for Engineering.
Core markets Germany and Europe
Germany is and will remain Method Park's core market. The Group generated EUR 13.76 million there in 2019, which is around 69 percent of its turnover and 4 percent more than in 2018. The UK follows Germany with EUR 2.29 million (11 percent of total turnover) while France, Poland, and Switzerland were also among the top 10 last year.
Overall, Europe remains the most robust sales market for Method Park products and services, accounting for 84 percent of total turnover. In the US, Method Park generated EUR 2.05 million, 10 percent of total turnover. Method Park has also been active in the Asian market for many years and achieved a record increase in turnover of 83 percent in South Korea. "We will consider this in 2020," explains Prof. Dr. Bernd Hindel, Method Park CEO. "We plan to expand our involvement in Asia."
The Method Park Group started the 2020 financial year with well-filled order books. "Orders of over EUR 9 million at the beginning of the year are a substantial basis. This order backlog gives us the certainty that Method Park is crisis-proof, particularly in the current situation.", says Method Park CFO Robin Hees.
In 2020, Method Park plans to increase its workforce to continue its growth from 2019. The company successfully hired 35 new employees in 2019, and as of December 31, the Method Park workforce amounted to 201 employees.
About Method Park
Method Park specializes in complex product engineering in the environments of the automotive, medical, and aerospace industries. Method Park’s portfolio includes consulting and engineering services, a comprehensive training program, and the process management tool “Stages”. Method Park was founded in 2001. On a worldwide basis, the company has coached its customers on process optimization, compliance to industry-specific standards, and legal regulations. It has also consulted on the management of projects, products, and quality assurance. Method Park offers a practice-based training program on all current topics of software and systems engineering. Method Park offers training at its locations in Germany and other European countries, the US, and Asia. With “Stages”, Method Park offers an individually customizable process management tool that supports its users on the definition, communication, and application of complex processes. The company group has locations in Erlangen, Frankfurt on the Main, Hamburg, Munich and Stuttgart as well as in Detroit, Miami and Pittsburgh in the US and Shanghai in China. Today, about 200 employees work for Method Park. In 2019, Method Park generated an operative turnover of about 21 million euros.
For further information please contact:
Dr. Christina Ohde-Benna, PR-Assistant
Method Park Holding AG, Wetterkreuz 19a, 91058 Erlangen, Germany