About us

Financial Performance

Updated: March 2021 

Despite the pandemic swiping across the globe, Markit’s annual revenue increased 9.4%, from 112.1 million euros in 2019 to 122.6 in 2020.

In summary 2020 posed an excellent opportunity to continue helping clients old and new, even when markets faced two waves of COVID-19. Like many companies, we saw increases e.g. IT spend, e-commerce activity, client acquisition but reductions too e.g. the economic downturn leading to affected companies freezing spend, but overall we were able to prove our worth with clients and helped thousands of them solve their pressing IT product supply issues.

Over the past 5 years revenue has almost doubled, showing solid and consistent year on year growth from 63.4 million euros in 2015 to 122.6 in 2020. Our CAGR since 2003 is approximately 30%.

Revenue growth in a year as challenging as 2020 is great to see and ours can be explained by a number of factors:

  • Markit's public reputation has increased: winning global acclaim and being shortlisted at the World Procurement Awards 2020 contributed to winning new contracts with large international companies.
  • Our international client base grew 9.8%. 2,750 new companies ordered from Markit for the first time. These included many companies who struggled to secure supplies through their regular IT supply chains. 
  • Marketplace and system upgrades further enhanced time and money saving potential for our 10,000+ clients. 
  • New Markit operations started in Mexico, Serbia and Brazil. 
  • The average order value increased 17.4% 
  • The number of products sold increased 1.7%
  • The number of unique IT products available in Markit marketplace increased to 3,624,595 making Markit the largest single-vendor IT marketplace in the world.
  • Our Net Promoter Score grew 3.0% to 66.9% (70% is recognised as “world class”) 

“Covid-19 is still upon us and the future for many companies remains uncertain, however we are pleased to say that Markit’s strengths and proven ability to save international companies time and money has achieved global recognition and acclaim during the crisis.

An increasing number of companies are finding that Markit’s unique IT marketplace and procurement solution is perfectly tuned to help in such circumstances. As a result, despite fluctuating IT spending levels in some industry sectors, Markit seems on track for further growth in 2021 and beyond.

In 2021, we will consolidate and expand our client base in Europe, the Americas and Asia. In addition, new Markit locations will be established in Malaysia, India and the United Arab Emirates.”

Andres Agasild, CEO of Markit