Atlas sees robust growth in 2013, outperforming the industry
Atlas, the leading international oil and gas learning technologies company, has released its financial results for 2013, showing an increase in revenues.
Atlas, the leading international oil and gas learning technologies company, has released its financial results for 2013, showing an increase in revenues. Atlas now supports 1.6 million technical oil and gas workers from a global working population of 6 million.
The company saw a substantial performance improvement, with a 15% increase of its profits in 2013, outstripping the Oil Industry’s figure which stood at 11%. This was possible thanks to an improvement in content licence sales of 29%, benefitting from increased sales to existing clients as well as new client acquisitions in both the UK and overseas. As a result, customised learning also increased by 21%.
Robert Morgan, Chairman, commented: “2013 has been a great year for Atlas. We have been growing ahead of our market, as sales have grown by 13% p.a., compared to the 6% growth of the global learning technology market. Clients have continued to look for more software-led solutions, and a strong financial year has allowed us to re-invest more than 20% of the profits towards the development of new software products and processes to meet this demand.”
The oil and gas learning technologies sector is attractive with over £4 billion spent globally p.a. The increased demand for learning and development in international markets is one of the major factors in this growing market. More than 40% of sales for Atlas come from international markets and business hub-spots such as the United Arab of Emirates, Malaysia and West Africa. Another reason for the sector’s growth has been an increasing focus on compliance and competency. As a result, Atlas has launched new competency and Health and Safety Executive services. Overall, Atlas managed to amass over 3,000 hours of content, and now supports 1.6 million technical oil and gas workers from a global total of 6 million.
Atlas is an increasingly much admired and growing company. Most of the employee’s at Atlas are from Aberdeen and hold ownership of the company, along with management supported by the private equity company Hg Capital LLP.
In 2013, Atlas was awarded a coveted Brandon Hall Group Gold award for excellence in the Best Advance in Learning Management Technology for Compliance Training category. The focus on success is central to pushing the company forward, building year-on-year, with products offering unique and innovative technologies.
Against the backdrop of these results, CEO John Rowley also announced his decision to step down after four years in his post. Chairman Robert Morgan will assume executive leadership responsibilities.
John Rowley said: “It has been a great honour to have contributed to the growth of Atlas as a company and I know I leave the business in the safe hands of our senior management team. Atlas will always be special to me, and I will continue to watch its growing success story with interest.”
Chairman Robert Morgan said: “John has played a crucial role in the development of Atlas, leading the company to double its turnover in just three years. He has launched several new product initiatives year on year and has strengthened our senior management team, which is the envy of the market.”
Chairman Robert Morgan has strong family connections in the Aberdeen and Buckie area. His great uncle, John Morgan, was a trained mason in the city in the 1880s. As a skilled granite craftsman, John was associated with many of the most prestigious projects in Aberdeen, including houses in Aberdeen’s west end, including Queens Road, as well as Marischal College.
Morgan wishes to continue his family heritage in Aberdeen and has expressed enthusiasm at returning to the city. “I will continue working to drive our business growth further, developing existing and new software, and capitalising on higher client demand in the competitive field of oil and gas learning technologies. It is great to be involved with a new type of craftsmanship following in my family’s footsteps.”