ECS Group is undergoing a strategic restructuring to “transform” its GSSA model, but there are few details on the change.
Under a new CEO, Jean Ceccaldi (pictured), the group plans to become more agile, to allow it “to respond more quickly to market shifts”.
The group also said it would provide more tailored solutions and “ensure technology integration remains a priority in driving digital transformation across all subsidiaries”. It also noted that it will focus on “integrating environmentally responsive practices into every aspect” of its operation.
“ECS Group is reshaping its approach and long-term positioning to meet the evolving demands of the industry,” it said.
“Jean Ceccaldi, with his extensive experience across all facets of the business, is the ideal person to lead this transformation, ensuring cohesion across the group’s global managing directors and driving a unified approach.”
ECS had a challenging 2022, but 2023 accounts show it has been busy. It is a wide-ranging group, with complex accounts across a large number of businesses, which could explain the need for restructuring and a unified approach.
It has continued its M&A activities, buying companies, including EFIS Maroc and IAM last year. It also has interests in CargoAI and Chartersync, as well as Air Cargo Week.
According to its Quito umbrella of companies’ 2023 financial results, which accounts for about 60% of its interests, turnover held steady at €17.2m ($18.6m).
The 2023 result before taxes for the year was €10.8m, compared with -€19.5m for the previous year.
While there had been some speculation in the industry that PE investor Naxicap Partners, which took on ECS in 2018, might be looking for an exit, its representative on the board appears to have extended the term up to 2029.
Europe remains ECS’s largest revenue region, accounting for about 60% of Quito’s operating results.
