think project! 2012 revenues reach €15.5m

think project! GmbH, grew 17 percent in 2012, to €15.5m revenues, a figure it says puts it ahead of its Munich rival Conject.

Thinkproject-logoAccording to a news release, the Munich, Germany-based project platform provider think project! has been posting annual growth rates of 15-20% for some years, grew 17% in 2012, and its first quarter of 2013 saw revenues up 16%. This growth has come equally from new and existing customers, with general contractors, energy, automotive and public sector segments the strongest drivers.

With total 2012 revenues of €15.5m (that’s £13.05m or US$20.27m at today’s rates), the release says “think project! group is now market leader in Germany and number two worldwide” (a claim that may be contested by its Anglo-German rival Conject; I believe think project! regards Aconex as current number one). Thomas Bachmaier, CEO of think project! GmbH, says:

“We are delighted with business development in Germany and internationally. In addition to these positive figures, we have been continually expanding expertise in our principal customer segments. In turn, we pass this knowledge on to our customers to help them successfully operate their projects.

“In the product area, we set the right course early on with our collaboration cloud strategy, supplementing our strong core product with additional services. With integration of Adobe PDF for digital approval procedures and the app for mobile capture of data on construction sites, we offer an attractive and comprehensive solution for our customers, which we are actively enhancing. Our proven strategy is to continuously make technology innovations accessible to our customers to deliver tangible benefits.”

When I met (and visited) think project! last year, Thomas was talking of revenues around €15m, so the latest year-end result is consistent with this.

Conject endured a flat period while it assimilated the former BIW Technologies business – acquired in December 2010 – into the group and coped with the global recession. The first full year of operations under Conject ownership (2011) were “challenging” for the UK business, though things did apparently start to improve in 2012 (post). Meanwhile, Conject group CEO Colin Smith told me poor sales in the German FM business had also kept the group’s overall performance “flat” (post) – as BIW rebranded, Colin had been talking of group revenues in excess of €18m (post). Has it faltered to the extent that think project! has been able to overtake? (I am investigating….)

Permanent link to this article: