Cordia: Entry into the retail market of security services

Cordia announced his involvement in the retail market for security services, and is expected to announce his cooperation with a telecommunications provider in the near future. In the group participates SMERC, the fund led by Marianna Latsi’s family office. The prospects of the Cordia Group active in the field of Integrated Management of Buildings, Facilities and Infrastructures (Total Facility Management) were developed by Mr. Nikos Karamouzis, Chairman of the SMERemediumCap Investment Fund, Theodore Moschos, Managing Partner of the SMERemediumCap Investment Fund, George Daniolos, Managing Director of CORDIA S.A., SKYMAR and IMAGIN and George Mathios, Managing Director of ESA Security Solutions, at an information meeting with journalists. Speaking of the group’s strategy, which began with the acquisition of former England Hellas in 2021 and today has three additional companies, it was noted that it aims to achieve a turnover of 150 million (in 2023 its revenues amounted to 107 million euros, while early in the year announced the acquisition of the Imagin building cleaning company). As has been pointed out, Cordia will also be active in claiming public works, which are now a small proportion of turnover, with its participation in competitions. Facility Management in Europe According to data presented at the information meeting, Facility Management is an extremely interesting market on a sustainable development track in recent years. In the post-COVID era and due to climate change, the European Facility Management market amounts to $321 billion with an increase of about 3.2% over 2022. This is a trend that is expected to continue, with the market reaching 364 billion. By 2027, about 2.5% growth. Total Facility Management is part of the Facility Management market and concerns the provision of all buildings, facilities and infrastructure management services under a single contract, with a share of about 10%. It emerges as the No.1 trend in the management of buildings and infrastructure worldwide. The holistic approach it offers enhances better coordination, economic efficiency and quality control, contributing to the smooth and effective functioning of the facility as a whole. It connects people, facilities and procedures, seeking to improve the quality of life of individuals and increase the productivity of businesses. The Greek Market Facility Management in Greece, as noted already reaches 1.4 billion euros with cleaning, safety and technical maintenance services being the most common services. In particular, the purchase in Cleaning Services ranges from 650m euros (6 companies own 36% of the market). Security services at EUR 450 million (5 companies hold 60% of the market, with the Aviation sector alone representing 13% of the value of security services) and technical maintenance services at EUR 300 million. Traditional sectors of the economy such as industry, tourism and the public remain largely still in in-house services, but in the last four years there has also been a shift towards outsourcing given the specialisation that is now required for the management of complex facilities. The Cordia Group was founded in 2021 with the aim of leading the sector of Integrated Property Management, Facilities and Infrastructure. Specifically, the Group’s investment arm, SMERemedium Cap recognising opportunities in the growing and dynamic market of FM and TFM in Greece went on to invest strategically, creating one of the most powerful Groups in the industry. Starting with the acquisition of Cordia (formerly England Hellas), in the field of technical maintenance and energy efficiency, the Group proceeded within a year by expanding its services through the acquisition of ESA Security Solutions the largest company in the physical security services industry in Greece, both in manned security and advanced electronic “smart” security systems. Shortly after that year he added cleanup services to his portfolio through the acquisition of SKYMAR Cleaning Services, a sector in which he invested further with the recent acquisition of IMAgin this year. In 2023, the Cordia Group presented a turnover of over 100m euros improved profitability and with over 4,500 employees, it was in 15th place with the largest employers in Greece. As noted today, the four companies under the umbrella of the Cordia Group, with the experience and knowledge of their specialized human resources and the guarantees of their insightful shareholders, change the data in Facility Management. It redefines traditional services by offering a wide range of technologically advanced, innovative, and tailored solutions, covering holistic, combination and individual security, cleaning, technical maintenance and energy upgrading of an infrastructure, depending on the specific needs of the installation and the people living and working in them. Speaking more generally about the economy, Mr Karamuzis referred to the challenges he still has to face with emphasis the need to change the productive model of the country that is in progress but has not yet yielded the desired results as it is still based on consumption. Fixed capital investments in recent years account for 14% of GDP as opposed to the European average of 22%. Consumption is still the lever for growth, not production, he said. In addition, he stressed the need to modernise primary production in Greece where the agricultural sector contributes only 1.5% of GDP. Finally, he pointed out that the small size of the majority of businesses in Greece does not help their development. Greece has only 470 large companies when Portugal has 980.