MILAN — SEC Newgate, the Italy-headquartered global strategic communications group, has reported year-end revenues for 2021 were up by 38% to $106 million.

The year-end results were announced as SEC Newgate delisted from the London Stock Exchange and returned to private ownership, after Three Hills Capital Partners became a minority shareholder. The private equity firm is providing initial funding of $53.25m to support the next stage of the agency’s growth plans, including international expansion.

Of the 38% revenue growth, 18% was organic. Gross profits were up 22% to $80.59 million, of which 14% was organic growth, and EBITDA was up 46% to $13.27 million, of which 33% was organic growth was 33%. Profit before tax nearly doubled to $7.05m.

Commenting on the results, group CEO Fiorenzo Tagliabue said: “This has been a transformational period for our group, despite the significant challenges in most markets around the world. Our group is united under one vision and a strong sense of purpose. This cultural glue has enabled us to achieve all our goals through sheer determination, working as one.”

During the year, SEC Newgate bought a majority stake in Dubai firm Twister Communications in August 2021, now operating as SEC Newgate ME, and opened an Eastern European hub in Warsaw last spring. It also took a new office lease in London, saving $ 1.1 million.

SEC Newgate was formed in 2019 from the merger of Italian-owned public affairs firm SEC and Porta, the owner of London-based financial and corporate agency Newgate and public affairs consultancy Newington. All its operations are now either in the process of using the SEC Newgate brand, or in transition.

The group now comprises 699 people across five continents, with women representing 62% of employees and 49% of leadership positions.

On the unfolding situation in Ukraine, Tagliabue said: “Our teams around our footprint are working to support colleagues, contacts and people affected directly and indirectly by this gut-wrenching situation and we pray that there will be a swift resolution.”

SEC Newgate is donating the equivalent of one day’s gross salary for every employee across the Group to UNHCR and giving one additional day’s leave for each employee to support local initiatives relating to the humanitarian crisis.