Heidrick & Struggles, one of the largest executive search firms in the world, has announced that its consolidated net revenue of the fiscal year of 2021 reached $1,003.0 million, representing a 61.4 % increase compared with the year of 2020.
Its fourth-quarter net revenue saw a growth by 77.4% year over year. Full-year net income was $72.6 million compared to a net loss of $37.7 million in 2020. “We are very pleased with our outstanding fourth quarter and year-end performance, which continues to build the foundation for ongoing shareholder value creation,” said President and Chief Executive Officer, Krishnan Rajagopalan.
“2021 was an exciting year of geographic expansion and industry-leading productivity in Executive Search, increased demand for our broad array of leadership, organizational effectiveness and culture shaping offerings from Heidrick Consulting, the addition of our high-growth On-Demand Talent business segment, and the initiation of a partnership for future digital innovation. Our record results demonstrate that our differentiated strategy is working.”
As an outlook for the first quarter of 2022, the company expects from $270 million to $280 million of consolidated net revenue, although it notes that the continuous pandemic, as well as Ukraine-Russia tensions may affect the results.