Arineo continues to grow at a fast pace

The IT company from Göttingen reports a 44 percent growth in revenue during the first half of 2021 / 50 new employees / Two research projects 

The Arineo Group continues to grow: in the first half of 2021, the IT company based in Göttingen increased its sales by 44 percent, to €15.03 million. In the first half of last year, sales amounted to €10.41 million, which, due to the effects of the Corona pandemic, was around one million euros below the original budget. Even if the sales targets of €11.41 million had been achieved in the previous year, growth in the first six months of this year would still have been more than 32 percent. For the fiscal year 2021, Arineo expects revenues to increase to more than €30 million from €22.94 million in 2020.

Parallel to the financial development, the number of employees also rose sharply: more than 50 new employees were hired in the first six months of this year, and the total number of colleagues is expected to exceed 300 by the end of the year. As a comparison: Arineo started this year with almost 240 employees.

“We also see this pleasing growth as proof of the structure and strategy of Arineo GmbH," says Arineo managing director, Dr. Marko Weinrich. Today, the employee-owned company already operates in thirteen locations and is listed as an official Gold Partner with both Microsoft and SAP. "Our earnings have also grown encouragingly," he continued. "The EBIT returns as a percentage of sales is well into double digits, allowing us to continue investing in strong employee and sales growth."

In addition to expanding its support for customers throughout Europe and China, one focus of Arineo's future work will be research.  To this end, the IT company has set up two artificial intelligence (AI) development research projects. In March, the German Federal Ministry of Education and Research decided to fund these projects. "Over the next four years, we will explore how 'smart' algorithms can be developed through the use of artificial intelligence and machine learning," said Dr. Marko Weinrich. "With these tools, companies will then be able to make various aspects of their work easier, more efficient, and error-free." The research volume for both projects is €2.1 million, and the German Federal Ministry of Education and Research is supporting this work with at least €0.5 million.