Since its launch a decade ago, EM has become a leading financial PR/IR agency for emerging markets, with a particular emphasis on Russia and other post-Soviet countries in Europe. Last year was among its strongest yet.
Despite a continued challenging market in Russia, the agency, which employs 26 people, grew revenue more than 30 per cent in 2019 to $6.7m as it added 15 new clients and doubled pre-tax profit from 2018. EM said it did this by doubling down on its strategic advisory business, which is high-margin and very resilient to market downturns.
EM maintained its dominant position in capital markets, working on five flotations in the year, and launched a new offering for start-ups.
The agency advised on M&A deals worth $1.5bn in 2019, including the acquisition of a share in EM client Familia by American firm TJX. That deal achieved universally positive coverage in the FT, Reuters and other leading titles, despite an extremely difficult political environment and acute tension between US and Russia that typically unfavourably colours business coverage.
EM was also instrumental in the successful communications around the corporate and governance restructuring of the country’s largest technology company, Yandex, by advising on all internal and investor comms and media relations during the process.
The agency launched its own environmental, social and governance offer in the year, leading to increased fees from existing clients and work with new clients in these areas.
EM, which operates in Moscow, Vienna and Luxembourg and elsewhere, also boasted 100 per cent employee retention in 2019.
Judge's comment: "Impressive results, especially around growth in a tough market"
M3 Communications Group