Quarterly Report • Nov 14, 2018
Quarterly Report
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January 1–September 30, 2018
The global leader in turning strategy into action.
NET SALES AND PROFIT BEFORE TAX
• Earnings per share before dilution increased by 25 percent to SEK 1.35 (1.08), and after dilution by 24 percent to SEK 1.32 (1.07).
BTS is a global professional services firm headquartered in Stockholm, Sweden, with close to 700 professionals in 37 offices located on six continents. We focus on the people side of strategy, working with leaders at all levels to help them make better decisions, convert those decisions to actions and deliver results. At our core, we believe people learn best by doing. For 30 years, we've been designing fun, powerful experiences™ that have a profound and lasting impact on people and their careers. We inspire new ways of thinking, build critical capabilities and unleash business success. It's strategy made personal.
We serve a wide range of client needs, including: Strategy execution, Leadership development programs, Assessment, Developing business acumen, Transforming sales organizations, Coaching, and Digital solutions, events and services.
1 | INTERIM REPORT JANUARY 1–SEPTEMBER 30, 2018 BTS INTERIM REPORT JANUARY 1–SEPTEMBER 30, 2018 | 1 We partner with nearly 450 organizations, including over 30 of the world's 100 largest global corporations. Our major clients are e.g.: ABB, Chevron, Coca-Cola, Ericsson, EY, HP, Mercado Libre, Salesforce.com, SAP, and Tencent. BTS is a public company listed on the Nasdaq Stockholm exchange and trades under the symbol BTS B. For more information, please visit www.bts.com. Q3
The third quarter marked a very positive performance, with 30 percent growth and a 32 percent increase in profit. All units trended positively in the third quarter. Overall, a good balance was also struck between organic and acquired growth.
The market for BTS's services is continuing to grow. The rate of change in the global business sector is high, which is favorable for demand. BTS holds a strong competitive position through our global organization, our digital services and our track record on creating earnings for our customers. We are securing many new assignments from existing customers while adding many new customers.
In the first nine months of the year, revenue increased by 25 percent. One area that is growing quickly is digital transformation, which we help customers carry out and achieve results more quickly. Digital transformation creates changes in how markets and companies function, and all managers and employees need to learn new approaches and new skills.
Other areas that grew quickly are coaching, assessment and innovation. We are, especially in the US market, winning a larger number of change management projects within these areas.
Demand for digitally delivered services is accelerating in our sector. We are well positioned and are continuing to invest in new, improved and innovative solutions.
In 2018, we expect continued healthy growth and profit before tax that is considerably better than in the preceding year.
Stockholm, November 14, 2018
Henrik Ekelund President and CEO of BTS Group AB (publ)
BTS's net sales for the nine-month period totaled MSEK 1,104.0 (874.4). Adjusted for changes in foreign exchange rates, growth was 25 percent, with a favorable combination of organic and acquired growth.
Growth varied between the units: BTS Europe 70 percent, BTS Other markets 24 percent, BTS North America 19 percent and APG negative 2 percent (growth measured in local currency).
Operating profit (EBITA) for the nine-month period increased by 37 percent to MSEK 126.2 (92.1). The operating margin (EBITA margin) was 11.4 (10.5) percent.
Operating profit (EBIT) for the nine-month period increased by 29 percent to MSEK 112.2 (87.0). The operating margin (EBIT margin) was 10.2 (10.0) percent. Operating profit (EBIT) for the nine-month period was charged with MSEK 14.1 (5.1) for amortization of intangible assets attributable to acquisitions.
Profit before tax increased by 27 percent to MSEK 110.1 (86.6).
The Group's profitability were positively affected by improved profit in BTS North America, BTS Europe and BTS Other markets, while weaker earnings in APG had a negative effect.
BTS's third-quarter net sales amounted to MSEK 377.4 (268.8). Adjusted for changes in foreign exchange rates, growth was 30 percent.
Operating profit (EBITA) increased by 32 percent in the third quarter to MSEK 41.6 (31.6). The operating margin (EBITA margin) was 11.0 (11.7) percent.
Operating profit (EBIT) increased by 24 percent to MSEK 37.1 (29.9). The operating margin (EBIT margin) was 9.8 (11.1) percent. Operating profit (EBIT) for the third quarter was charged with MSEK 4.4 (1.6) for amortization of intangible assets attributable to acquisitions.
Profit before tax for the third quarter increased by 22 percent to MSEK 36.5 (30.0).
Earnings were positively affected by improved profit in all markets.
The market for BTS services continued to trend positively during the nine-month period.
PROFIT BEFORE TAX BY QUARTER
BTS North America consists of BTS's operations in North America excluding APG.
BTS Europe consists of operations in Belgium, France, Germany, the Netherlands, Sweden and the UK.
BTS Other markets consists of operations in Argentina, Australia, Brazil, China, Costa Rica, India, Italy, Japan, Mexico, Singapore, South Africa, South Korea, Spain, Taiwan, Thailand and the United Arab Emirates.
APG consists of operations in Advantage Performance Group in North America.
| MSEK | July–Sep 2018 |
July–Sep 2017 |
Jan–Sep 2018 |
Jan–Sep 2017 |
Oct–Sep 2017/18 |
Jan–Dec 2017 |
|---|---|---|---|---|---|---|
| BTS North America | 172.8 | 132.1 | 504.0 | 426.6 | 651.1 | 573.7 |
| BTS Europe | 67.2 | 36.9 | 210.6 | 118.0 | 296.6 | 204.0 |
| BTS Other markets | 109.1 | 76.3 | 305.1 | 243.3 | 412.6 | 350.9 |
| APG | 28.3 | 23.4 | 84.3 | 86.4 | 111.9 | 114.1 |
| Total | 377.4 | 268.8 | 1,104.0 | 874.4 | 1,472.2 | 1,242.6 |
| MSEK | July–Sep 2018 |
July–Sep 2017 |
Jan–Sep 2018 |
Jan–Sep 2017 |
Oct–Sep 2017/18 |
Jan–Dec 2017 |
|---|---|---|---|---|---|---|
| BTS North America | 22.4 | 19.7 | 68.9 | 58.1 | 84.5 | 73.7 |
| BTS Europe | 2.1 | 0.1 | 18.1 | 0.9 | 35.0 | 17.9 |
| BTS Other markets | 16.5 | 11.5 | 38.7 | 31.1 | 55.2 | 47.6 |
| APG | 0.5 | 0.3 | 0.5 | 2.1 | 0.2 | 1.7 |
| Total | 41.6 | 31.6 | 126.2 | 92.1 | 175.0 | 140.9 |
Net sales for BTS's operations in North America amounted to MSEK 504.0 (426.6) for the nine-month period. Adjusted for changes in foreign exchange rates, revenue grew by 19 percent. Operating profit (EBITA) for the nine-month period totaled MSEK 68.9 (58.1). The operating margin (EBITA margin) was 13.7 (13.6) percent.
Net sales amounted to MSEK 172.8 (132.1) in the third quarter. Adjusted for changes in foreign exchange rates, revenue grew by 19 percent. Operating profit (EBITA) amounted to MSEK 22.4 (19.7) in the third quarter. The operating margin (EBITA margin) was 13.0 (14.9) percent.
BTS North America reported healthy growth in the third quarter. The operating margin declined due to investments in coaching operations and a higher share of external subcontractors than normal.
Net sales for BTS Europe amounted to MSEK 210.6 (118.0) for the nine-month period. Adjusted for changes in foreign exchange rates, revenue grew by 70 percent. Operating profit (EBITA) for the nine-month period totaled MSEK 18.1 (0.9). The operating margin (EBITA margin) was 8.6 (0.8) percent.
Net sales amounted to MSEK 67.2 (36.9) in the third quarter. Adjusted for changes in foreign exchange rates, revenue grew by 68 percent. Operating profit (EBITA) amounted to MSEK 2.1 (0.1) in the third quarter. The operating margin (EBITA margin) was 3.1 (0.3) percent.
BTS Europe performed positively during the third quarter, with rapid growth and improved margins. The acquisitions of BTS Coach and BTS Germany made significant contributions, but the organic growth was also strong.
Net sales for BTS Other markets amounted to MSEK 305.1 (243.3) for the nine-month period. Adjusted for changes in foreign exchange rates, revenue grew by 24 percent. Operating profit (EBITA) for the nine-month period totaled MSEK 38.7 (31.1). The operating margin (EBITA margin) was 12.7 (12.8) percent.
Net sales amounted to MSEK 109.1 (76.3) in the third quarter. Adjusted for changes in foreign exchange rates, revenue grew by 37 percent. Operating profit (EBITA) amounted to MSEK 16.5 (11.5) in the third quarter. The operating margin (EBITA margin) was 15.1 (15.1) percent.
The positive trend in BTS Other markets is continuing, with rapid growth and sustained good margins.
Net sales for APG amounted to MSEK 84.3 (86.4) for the nine-month period. Adjusted for changes in foreign exchange rates, revenue declined by 2 percent. Operating profit (EBITA) for the nine-month period totaled MSEK 0.5 (2.1). The operating margin (EBITA margin) was 0.6 (2.4) percent.
Net sales amounted to MSEK 28.3 (23.4) in the third quarter. Adjusted for changes in foreign exchange rates, revenue grew by 10 percent. Operating profit (EBITA) amounted to MSEK 0.5 (0.3) in the third quarter. The operating margin (EBITA margin) was 1.8 (1.2) percent.
BTS's cash flow from operating activities for the ninemonth period amounted to MSEK 61.1 (55.7). Cash flow from operating activities for the third quarter amounted to MSEK 79.4 (15.9).
Available cash and cash equivalents amounted to MSEK 230.6 (117.6) at the end of the period. The company's interest-bearing loans attributable to previously implemented
acquisitions amounted to MSEK 135.0 (34.4) at the end of the period.
BTS's equity ratio was 48 (61) percent at the end of the period.
The company had no outstanding conversion loans at the balance sheet date.
At September 30, the number of employees at BTS was 682 (540).
The average number of employees for the nine-month period was 630 (535).
The total increase in personnel was primarily the result of completed acquisitions.
The Parent Company's net sales amounted to MSEK 2.3 (1.9) and profit before tax totaled MSEK 20.8 (42.1). Cash and cash equivalents amounted to MSEK 1.0 (0.2).
Profit before tax is expected to be considerably better than the previous year.
No significant events occurred after the close of the period.
The Group's material risks and uncertainties include market and business risks, operational risks and financial risks. Business and market risks may relate to greater customer exposure for specific sectors and companies as well as sensitivity to market conditions. Operational risks include dependence on individuals, skills supply and intellectual property as well as BTS meeting the high quality demands
of its clients. Financial risks mainly relate to foreign exchange and credit risks.
The management of risks and uncertainties is described in the 2017 Annual Report. BTS is considered to have a good spread of risks across companies and sectors, and operational risks are handled in a structured manner through well-established processes. Day-to-day exposure to currency fluctuations is limited since revenue and costs are mainly in the same currency in each market, and credit risk is limited since BTS only accepts creditworthy counterparties. No new material risks or uncertainties are deemed to have arisen during 2018.
In order to prepare the financial statements in conformity with IFRS, Corporate Management is required to make estimates and assumptions that affect the application of accounting principles and the recognized amounts of assets, liabilities, revenue and costs. Estimates and assumptions are based on historical experience and a number of other factors that are regarded as reasonable under prevailing conditions. Actual outcomes can deviate from these estimates and assumptions. Estimates and assumptions are reviewed regularly.
This interim report has been prepared in accordance with IAS 34 Interim Financial Reporting. The consolidated financial statements have been prepared in accordance with the International Financial Reporting Standards (IFRS) as endorsed by the EU, RFR 1 Supplementary Accounting Rules for Groups, and the Swedish Annual Accounts Act. The Parent Company's statements have been prepared in accordance with RFR 2 Accounting for Legal Entities and the Annual Accounts Act.
No new or revised IFRS that took effect in 2018 impacted the Group. The accounting policies and basis of calculation were unchanged compared with the 2017 Annual Report. Significant accounting policies and valuation principles are found on pages 19–22 of the 2017 Annual Report in Swedish, which has been published on the BTS website.
IFRS 9 Financial Instruments is in effect from January 1, 2018, and the Group's application is indicated by Note 2 in the 2017 Annual Report. BTS has applied IFRS 9 as of January 2018. IFRS 9 has had no effect on earnings or financial position.
IFRS 15 Revenue from Contracts with Customers applies from January 1, 2018, and the Group's application is indicated by Note 2 in the 2017 Annual Report. BTS applies IFRS 15 as of January 1, 2018. IFRS 15 has had no effect on the Group's earnings or financial position.
IFRS 16 was published in January 2016 and approved by the EU in October 2017. IFRS 16 replaces IAS 17 Leases. The standard means that assets and liabilities pertaining to all leases – with a very few exceptions – will be recognized in the balance sheet, as operating and finance leases are no longer differentiated. Only contracts with short terms and contracts of lesser value are excepted. Recognition for the lessor will remain essentially unchanged.
IFRS 16 will primarily impact recognition of the Group's operating leases. Evaluation of the effects on the Group's financial reporting will be completed during the year.
The standard will take effect as of January 1, 2019. BTS does not intend to apply IFRS 16 in advance.
As previously announced, a Nomination Committee has been appointed. In consultation with Chairman of the Board Reinhold Geijer, BTS's three largest shareholders have appointed the following individuals to serve on the Nomination Committee:
Anders Dahl has been appointed Chairman of the Nomination Committee.
The task of the Committee is to put forward proposals prior to the 2019 Annual General Meeting for chairman of the annual meeting, the Board, the Chairman of the Board, and auditors, proposals of fees for Board member and the auditors, and principles for the composition of the Nomination Committee.
Shareholders in BTS Group AB are welcome to submit proposals to the Chairman of the Nomination Committee at the following address: [email protected] or by mail to: BTS Group AB, Nomination Committee, Grevgatan 34, SE-114 53 Stockholm, Sweden.
The proposed composition of the Board of the Directors will be announced in the notice convening the next Annual General Meeting.
Year-end report 2018 February 21, 2019 Interim report January–March 2019 May 15, 2019
Stockholm, November 14, 2018
Henrik Ekelund President and CEO
This report has not been reviewed by BTS's auditor.
| Henrik Ekelund CEO | Tel: +46 8 587 070 00 | |
|---|---|---|
| Stefan Brown | CFO | Tel: +46 8 587 070 62 |
| Michael Wallin Head of Investor | Tel: +46 8 587 070 02 | |
| Relations | Mobile: +46 70 878 80 19 | |
For further information, visit our website www.bts.com
BTS Group AB (publ) Grevgatan 34 SE-114 53 Stockholm SWEDEN
Tel. +46 8 587 070 00 Fax. +46 8 587 070 01 Company registration number: 556566-7119
| KSEK | July–Sep 2018 |
July–Sep 2017 |
Jan–Sep 2018 |
Jan–sep 2017 |
Oct–Sep 2017/18 |
Jan–Dec 2017 |
|---|---|---|---|---|---|---|
| Net sales | 377,403 | 268,793 | 1,103,973 | 874,365 | 1,472,199 | 1,242,591 |
| Operating expenses | –333,563 | –234,910 | –970,046 | –774,805 | –1,287,078 | –1,091,837 |
| Depreciation of property, plant, and equipment |
–2,277 | –2,318 | –7,703 | –7,454 | –10,137 | –9,887 |
| Amortization of intangible assets | –4,424 | –1,623 | –14,069 | –5,065 | –17,578 | –8,574 |
| Operating profit | 37,139 | 29,943 | 112,155 | 87,041 | 157,406 | 132,292 |
| Net financial items | –854 | –172 | –2,347 | –603 | –2,742 | –999 |
| Associated company, profit after tax | 243 | 191 | 256 | 191 | 200 | 135 |
| Profit before tax | 36,529 | 29,962 | 110,064 | 86,630 | 154,864 | 131,429 |
| Taxes | –11,071 | –9,834 | –32,852 | –28,932 | –37,216 | –33,295 |
| Profit for the period | 25,458 | 20,128 | 77,212 | 57,698 | 117,648 | 98,134 |
| attributable to the shareholders of the parent company |
25,458 | 20,128 | 77,212 | 57,698 | 117,648 | 98,134 |
| Earnings per share, before dilution of shares, SEK |
1.35 | 1.08 | 4.09 | 3.09 | 6.23 | 5.20 |
| Number of shares at end of the period | 18,887,051 | 18,646,370 | 18,887,051 | 18,646,370 | 18,887,051 | 18,887,051 |
| Average number of shares before dilution | 18,887,051 | 18,646,370 | 18,887,051 | 18,646,370 | 18,887,051 | 18,887,051 |
| Earnings per share, after dilution of shares, SEK |
1.32 | 1.07 | 4.00 | 3.06 | 6.10 | 5.09 |
| Average number of shares after dilution | 19,284,748 | 18,856,961 | 19,284,748 | 18,856,961 | 19,284,748 | 19,284,748 |
| Dividend per share, SEK | 2.80 |
| KSEK | July–Sep 2018 |
July–Sep 2017 |
Jan–Sep 2018 |
Jan–sep 2017 |
Oct–Sep 2017/18 |
Jan–Dec 2017 |
|---|---|---|---|---|---|---|
| Profit for the period | 25,458 | 20,128 | 77,212 | 57,698 | 117,648 | 98,134 |
| Items that will not be reclassified to profit or loss |
– | – | – | – | – | – |
| – | – | – | – | – | – | |
| Items that may be reclassified to profit or loss |
||||||
| Translation differences in equity | –10,964 | –21,059 | 34,425 | –50,606 | 46,877 | –38,154 |
| Other comprehensive income for the period, net of tax |
–10,964 | –21,059 | 34,425 | –50,606 | 46,877 | –38,154 |
| Total comprehensive income for the period | 14,493 | -932 | 111,637 | 7,092 | 164,525 | 59,980 |
| attributable to the shareholders of the parent company |
14,493 | -932 | 111,637 | 7,092 | 164,525 | 59,980 |
| KSEK | 30 Sep 2018 |
30 Sep 2017 |
31 Dec 2017 |
|---|---|---|---|
| Assets | |||
| Goodwill | 444,476 | 247,543 | 421,374 |
| Other intangible assets | 77,182 | 33,580 | 86,899 |
| Tangible assets | 36,908 | 29,059 | 29,638 |
| Financial assets | 13,336 | 8,684 | 11,206 |
| Total non-current assets | 571,901 | 318,867 | 549,117 |
| Trade receivables | 368,428 | 254,378 | 335,132 |
| Other current assets | 229,265 | 143,541 | 141,441 |
| Cash and cash equivalents | 230,600 | 117,647 | 199,876 |
| Total current assets | 828,292 | 515,567 | 676,449 |
| TOTAL ASSETS | 1,400,194 | 834,434 | 1,225,566 |
| Equity and liabilities | |||
| Equity | 666,408 | 507,343 | 580,555 |
| Provisions | 220,455 | 66,267 | 219,719 |
| Non-current liabilities | 81,190 | 4,917 | 84,839 |
| Current liabilities | 432,141 | 255,907 | 340,453 |
| Total liabilities | 733,786 | 327,091 | 645,012 |
| TOTAL EQUITY AND LIABILITIES | 1,400,194 | 834,434 | 1,225,566 |
| KSEK | Jan–Sep 2018 |
Jan–Sep 2017 |
Jan–Dec 2017 |
|---|---|---|---|
| Cash flow before changes in working capital | 104,369 | 66,713 | 99,380 |
| Cash flow from changes in working capital | –43,229 | –11,045 | –1,182 |
| Cash flow from operating activities | 61,140 | 55,668 | 98,198 |
| Cash flow from investing activities | –25,2741 | –25,2941 | –80,2172 |
| Cash flow from financing activities | –17,6193 | –37,4964 | 54,6614 |
| Cash flow for the period | 18,246 | –7,123 | 72,642 |
| Cash and cash equivalents, opening balance | 199,876 | 135,433 | 135,433 |
| Translation differences in cash and cash equivalents | 12,478 | –10,663 | –8,200 |
| Cash and cash equivalents, closing balance | 230,600 | 117,647 | 199,876 |
The additional consideration paid in acquisitions is MSEK 9.9 (9.6), the remainder relates to acquisitions of non-current assets.
The consideration paid in acquisitions is MSEK 64.7, the remainder relates to acquisitions of non-current assets.
3 The dividend to shareholders was MSEK 26.4, the remainder relates to changes in loans.
4 The dividend to shareholders was MSEK 46.6, the remainder relates to changes in loans.
| KSEK | Total equity 30 Sep 2018 |
Total equity 30 Sep 2017 |
Total equity 31 Dec 2017 |
|---|---|---|---|
| Opening balance | 580,555 | 543,094 | 543,094 |
| Dividend to shareholders | –26,442 | –46,616 | –46,616 |
| New issue | – | – | 21,245 |
| Other | 658 | 3,773 | 2,852 |
| Total comprehensive income for the period | 111,637 | 7,092 | 59,980 |
| Closing balance | 666,408 | 507,343 | 580,555 |
| KSEK | July–Sep 2018 |
July–Sep 2017 |
Jan–Sep 2018 |
Jan–Sep 2017 |
Oct–Sep 2017/18 |
Jan–Dec 2017 |
|---|---|---|---|---|---|---|
| Net sales | 625 | 435 | 2,325 | 1,895 | 2,745 | 2,315 |
| Operating expenses | –1,261 | –666 | –500 | –1,935 | –324 | –1,759 |
| Operating profit | –636 | –231 | 1,825 | –40 | 2,421 | 556 |
| Net financial items | –594 | –30 | 19,012 | 42,103 | 24,264 | 47,355 |
| Profit before tax | –1,230 | –260 | 20,837 | 42,063 | 26,685 | 47,911 |
| Taxes | – | – | – | – | –822 | –822 |
| Profit for the period | –1,230 | –260 | 20,837 | 42,063 | 25,862 | 47,089 |
| KSEK | 30 Sep 2018 | 30 Sep 2017 | 31 Dec 2017 |
|---|---|---|---|
| Assets | |||
| Financial assets | 302,026 | 123,015 | 301,048 |
| Other current assets | 50,680 | 16,103 | 53,243 |
| Cash and cash equivalents | 1,002 | 233 | 246 |
| Total assets | 353,707 | 139,351 | 354,537 |
| Equity and liabilities | |||
| Equity | 125,231 | 104,565 | 130,836 |
| Non-current liabilities | 167,802 | 4,054 | 172,952 |
| Current liabilities | 60,675 | 30,731 | 50,749 |
| Total equity and liabilities | 353,707 | 139,351 | 354,537 |
| KSEK | July–Sep 2018 |
July–Sep 2017 |
Jan–Sep 2018 |
Jan–Sep 2017 |
Oct–Sep 2017/18 |
Jan–Dec 2017 |
|---|---|---|---|---|---|---|
| Net sales | 377,403 | 268,793 | 1,103,973 | 874,365 | 1,472,199 | 1,242,591 |
| Operating profit (EBITA) | 41,564 | 31,565 | 126,224 | 92,107 | 174,984 | 140,866 |
| Operating margin (EBITA margin), % | 11 | 12 | 11 | 11 | 12 | 11 |
| Operating profit (EBIT) | 37,139 | 29,943 | 112,155 | 87,041 | 157,406 | 132,292 |
| Operating margin (EBIT margin), % | 10 | 11 | 10 | 10 | 11 | 11 |
| Profit margin, % | 7 | 7 | 7 | 7 | 8 | 8 |
| Operating capital1 | 570,781 | 506,238 | ||||
| Return on operating capital, % | 29 | 28 | ||||
| Return on equity, % | 19 | 17 | ||||
| Equity ratio, at end of the period, % | 48 | 61 | 48 | 61 | 48 | 47 |
| Cash flow | 68,011 | 15,154 | 18,246 | –7,123 | 98,011 | 72,642 |
| Cash and cash equivalents, at end of the period |
230,600 | 117,647 | 230,600 | 117,647 | 230,600 | 199,876 |
| Average number of employees | 657 | 537 | 630 | 535 | 575 | 548 |
| Number of employees at end of the period | 682 | 540 | 682 | 540 | 682 | 596 |
| Revenues for the year per employee | 2,559 | 2,268 |
1) The calculation included the item of non-interest-bearing liabilities amounting to KSEK 598,235 (292,695).
Earnings attributable to the parent company's shareholders divided by number of shares.
Operating profit before interest, tax and amortization as a percentage of net sales.
Operating profit after depreciation as a percentage of net sales.
Profit for the period as a percentage of net sales.
Total balance sheet reduced by liquid funds and other interest-bearing assets and reduced by non-interest bearing liabilities.
Operating profit (EBIT) as a percentage of average operating capital.
Profit after tax as a percentage of average equity.
Equity as a percentage of total balance sheet.
BTS focuses on the people side of strategy, working with leaders at all levels to help them make better decisions, convert those decisions to actions and deliver results. At our core, we believe people learn best by doing. For more than 30 years, we've been designing fun, powerful experiences™ that have a profound and lasting impact on people and their careers. We inspire new ways of thinking, build critical capabilities and unleash business success. It's strategy made personal.
The global leader in turning strategy into action.
We inspire and equip people to do the best work of their lives, creating better businesses and a better planet.
We make strategy personal and drive great execution. Our unforgettable experiences create levels of alignment, mindset, and capability that deliver better results, faster.
BTS's financial goals over time are to reach:
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