- This improvement consolidates the positive trend of the last three years and reflects the positive evolution of MIO Group’s commercial activity.
- International business grew by 37% compared to the same period of the previous year and now accounts for 18% of global turnover. In 2023, MIO Group landed in Colombia and is also present in Mexico, the United States and Portugal.
- MIO Group acquired 35% of SuperReal in 2023; completed the acquisition of Dendary and increased its stake in FIRMA to 65%.
MIO Group continued to reinforce its growth and international expansion strategy in 2023. The group, which integrates companies specializing in marketing strategy, digital asset creation and media activation, closed the year with a gross margin of 22.3 million euros, up 10% on the previous year, a record figure for the company.
Thus, gross margin in 2023 represented 34% of net sales, an improvement of 6.8 percentage points compared to 27.7% in 2022. This improvement consolidates the positive trend of the last three years and reflects the positive evolution of MIO Group’s commercial activity, which is based on a better qualification of opportunities, a better positioning of its differentiation proposal and a higher-value service offering.
The strategic area of marketing and sales consulting grew by 20%, from €16.3 million in 2022 to €19.6 million in 2023. Recurring EBITDA was 2.5 million euros, despite the increase in exceptional expenses derived from its talent retention program and the professional services contracted for the integration of the latest acquisitions.
Boosting the inorganic growth strategy
Precisely in line with its strategic focus on the integration of Artificial Intelligence as a differential factor in the provision of services to its customers, in 2023 MIO Group incorporated 35% of SuperReal, a company specializing in generative AI and Web 3.0, which is set to transform the group’s and its customers’ marketing operations and processes.
In addition, as part of this inorganic growth, in 2023 it completed the full acquisition of Dendary, the group company specialized in marketplaces, and increased its stake in the brand image consulting firm FIRMA to 65%.
Growth of international business and new opening in Colombia
At the same time, MIO Group also advanced in its internationalization with the aim of accompanying its clients in the markets where they operate and developing attractive business opportunities as new avenues for growth. As a result, the international business grew by 37% compared to the same period of the previous year and now accounts for 18% of the group’s global turnover.
Likewise, in 2023 MIO Group landed in Colombia with the creation of a new commercial office, which already has a significant number of contracts with very relevant clients such as Incauca, Sistecredito, Smartfit and Distanco, which constitute a solid base for the local business and augur future growth. This opening is in addition to the group’s presence in Mexico, the United States and Portugal, the latter being the country from which it coordinates its international development.
According to Yago Arbeloa, co-founder and president of MIO Group, “these results show a business strategy in full growth and international expansion. They also reflect the Group’s commitment to talent; to technologies such as AI, which transforms and optimizes our processes and those of our clients; and to the integration of services to build a value-added and differential proposal”.
Communication MIO Group
