Farnek has had an exceptional 12 months, despite tougher market conditions, revenue has increased by 5% through securing $81m (AED300m) of new contracts including the Yas Marina, Dubai Airports, and The Dubai Mall.
The company states that its contract retention rate remained at +90%, including the prestigious Burj Khalifa where its hard FM team successfully piloted and implemented the Energy Centered Maintenance (ECRM) regime leading to a 30% saving on manpower costs and an average 4% on asset energy consumption for its client.
Some of the major contracts for the firm include Expo 2020 Opportunity District (scope: total FM services), Dubai Airport Terminal 1, 2, concourse D, Dubai Cargo Village and DWC (scope: soft services – cleaning), Yas Maria Circuit (scope: total FM services), among several others.
Farnek recently completed the acquisition of Certis Guarding Services. Singapore-based Certis, has been operating in the UAE for over a decade and has offices in Abu Dhabi and Dubai. The company employs more than 1,800 staff.
Markus Oberlin, CEO, says: “By focusing on enhancing customer experiences and providing sustainable service delivery through people, process and technology, Farnek has invested in the next generation of IoT and AI to transform some of its solutions.”
Talking about the challenges, Oberlin adds: “Similar, to last year, a tough economic climate has resulted in client operating budgets and cashflow being squeezed, and as a result, we’re facing tighter mobilisations.”
Farnek’s YOY growth and increased market share of over 30% is demonstrated through digitalisation, sustainability and cost optimisation, and its belief that the purpose of maintaining environments, is to ensure its users are experiencing added value and a seamless service.