“There are several business areas with great potential for Eurotux in Portugal”
Eurotux has been in the IT market for 24 years with a turnkey approach. Its CEO, António Coutinho, says that up to April, turnover grew by 40% and he anticipates an increase of 25% for the year as a whole.
António Coutinho leads the Portuguese technology company Eurotux based on an element he considers fundamental: trust.
Eurotux is a company with 100% national capital, which was born at the University of Minho, when Braga was not yet a technological city. Eurotux’s CEO, António Coutinho, recalls in an interview with Forbes that back in 2000 “our services were provided remotely, we were ahead of our time, and that’s how we intend to continue”. António Coutinho stresses that the focus is not on having a solution that applies to everyone, but on having the solution that each client needs. To achieve this, he stresses that the company he manages must “continue to have a highly qualified, flexible team with an extraordinary ability to adapt. We often say that we are the specialists of specialists: when, typically, other IT companies say they can’t solve it, we are called in to design the solution.”
How is Eurotux’s activity structured?
Eurotux is a company that specializes in providing IT services. It has been on the market for over 20 years and has expanded to the UK and Brazil. In terms of business areas, I would highlight our offerings in Managed Services, Cloud&DevOps and Cybersecurity. We currently manage and monitor thousands of servers and 24×7 monitoring, which gives us extensive experience in the area of Managed Services. In turn, our Cloud&DevOps team specializes in installing and managing infrastructures in public clouds such as AWS or Azure, optimizing the costs of using these platforms for our clients. And in the area of Cybersecurity, our Cybersecurity-as-a-service service under the name SOC Eurotux – Security Operations Center – helps our clients protect their systems and data from the most sophisticated cyber threats.
How does the company “facilitate” the activity of the clients it works with?
We focus on being facilitators and on finding technological answers to overcome bottlenecks that prevent our clients from exploiting the full potential of their businesses. We believe that true facilitation lies in a deep understanding of each client’s unique needs and challenges. Through a personalized and consultative approach, we seek to establish lasting partnerships that go beyond the mere provision of services. Throughout our 24 years of experience, we have consolidated a set of comprehensive solutions aimed at optimizing our clients’ business processes, boosting their productivity, efficiency and competitiveness.
In Portugal, which sectors of activity most seek your services and what are the demands?
Rather than focusing on a vertical segment, Eurotux has always sought to understand the client’s problem and design a solution or service that suits their needs. For this reason, we have requests from both public and private entities, from both service companies and industry. The fact that we also sell hardware allows us to offer a turnkey solution to our clients. The requests are varied. We have clients who want to renew their infrastructure, those looking for a complete infrastructure management service with monitoring, backups and Disaster Recovery mechanisms, and others with specific one-off needs.
How did you close the 2023 financial year?
We closed 2023 with growth of 13% on the previous year. The company’s total income rose to 6,961,595 euros, an increase of 11.73% compared to 2022. This rise is mainly attributable to the increase in sales and services rendered, which rose by 12.91% over the year.
Is the growth strategy on the ground bearing fruit?
This year, we want to increase turnover by 25%. This optimism is due to a strategy of sustained consolidation over the years, which has allowed us to diversify our offer on the national (and international) market. The essential pillars of this diversification are the close relationship with our clients and the investment in skills and talent in Eurotux’s hiring policy. Moreover, from 2022 to 2023, our team grew by 12%.
Last year brought challenges to various sectors. In your case, what challenges have you faced?
The main challenge last year was an unstable global and national economic scenario, marked by inflation and geopolitical instability, which had a direct impact on companies’ investment in technology. In addition, like any IT company, we continue to face some difficulty in finding and retaining experienced professionals in high-demand technology areas. On the other hand, I would also say that the rapid evolution of the technological landscape has also been a challenge, as it has required constant updating and investment in new solutions to meet customer needs.
And how did you manage to turn things around?
Eurotux was able to overcome these challenges with a strategy of strengthening relationships with existing clients and winning new ones, through personalized service, innovative solutions and competitive prices. In addition, we invested in implementing programs to attract, retain and develop talent, creating a positive and stimulating work environment. Finally, we have identified technology areas with high growth and investment potential, developed specialized solutions to meet the specific needs of these segments and supported a culture of innovation, which encourages creativity and technological development through internal programs and partnerships with universities.
In this year of 2024, do you notice that there are more business opportunities?
Yes, we have noticed a significant increase in business opportunities in Portugal, largely driven by the digital transformation and the fear of cyber attacks. The COVID-19 pandemic has accelerated the digital transformation of organizations, exposing various vulnerabilities and making cybersecurity a priority. The media visibility of cyberattacks has generated greater concern among companies, which are looking to guarantee the protection of their data and the continuity of their operations. As a result, there is greater demand for infrastructure management services, servers, monitoring, backups and specialized support in recovering from a cyberattack. IT services are transversal and essential to all business areas, creating a wide range of opportunities. Eurotux benefits from a solid reputation and has been able to expand its client base. In short, the outlook for 2024 in Portugal is promising for growth, especially in the IT and IT security sector. We are committed to continuing to offer robust and innovative solutions, capable of protecting and optimizing our clients’ operations, guaranteeing them the peace of mind they need to focus on their business.
How do you assess the financial performance of the first few months?
By 2024 we aim to have an increase in turnover of around 25%. The first few months of the year have been promising: the first quarter showed growth of 40% compared to the same period last year.
Cybersecurity is an increasingly common topic. In the Portuguese market, how is Eurotux responding to any customer requests in this area?
We recognize the growing importance of cybersecurity in today’s digital world. Portuguese companies of all sizes and sectors are increasingly aware of cyber risks and the need to protect their data and systems. To meet the needs of our clients in Portugal in this crucial area, Eurotux offers a full range of cybersecurity services, encompassed in our SOC service: Risk and vulnerability assessment: We carry out comprehensive assessments of our clients’ IT infrastructure to identify potential risks and vulnerabilities. This assessment allows us to develop a customized security plan for each client. Implementation of security solutions: We offer a wide range of security solutions to protect our clients’ data and systems, including firewalls, intrusion detection systems, anti-virus and anti-malware software, and encryption solutions. Monitoring and incident response: We continuously monitor our clients’ IT infrastructure to detect and respond to security incidents quickly and effectively. Training and awareness: We provide training and awareness sessions on cybersecurity for our clients’ employees, helping them to understand the risks and take steps to protect company data. Disaster recovery planning: We help our clients create and implement disaster recovery plans to ensure that they can recover from cyber attacks or other disasters. With multidisciplinary teams immediately available to help mitigate the impacts and rebuild their systems, Eurotux has proven to be one of the Portuguese entities with the greatest capacity to help companies that have been victims of cyberattacks, even if they are not previously our clients. We have recent experiences in this context that include large national companies, city councils and even multinational companies.
Are there any new business areas that the company could still develop in Portugal?
I am confident that there are several business areas with great potential for the company in Portugal. I believe that by exploring these opportunities in a strategic and innovative way, we can continue to grow and contribute to the success of our clients and the development of the national economy. Areas such as Artificial Intelligence, Cloud Computing, Big Data and Cybersecurity are areas where Eurotux can make an important contribution to the market.
How many employees are in the Portuguese subsidiary? Is there any prospect of increasing the number?
We currently have around 90 employees spread across the country in the different areas in which we operate, 10% more than in 2023. As the business grows, we want to strengthen the team with skills and abilities that will support this growth.
Today, leading people is increasingly challenging. What are your maxims for leading and inspiring teams?
In our company, leadership is fundamentally based on trust. We believe that trust is the basis of all relationships, both internal and external. We promote trust between all employees, between leaders and those they lead, as well as with our clients, partners and suppliers. We are always committed to helping those around us and to maintaining transparency in communication and in the execution of our tasks. Another essential principle is respect for people. We value each employee individually, recognizing their importance and their unique contribution.
Portugal is facing a talent drain. In your case, how do you manage to attract and retain talent, given that today it’s not just salary that counts?
To attract and retain talent, we go beyond remuneration and offer a range of benefits and values that we believe are important to our employees: Learning culture: We believe that continuous development is fundamental to individual and company success. We offer our employees various learning opportunities that go beyond traditional training. There are always new challenges and problems to solve, which involve studying and designing new solutions. Learning is virtually continuous. Positive and collaborative work environment: we create a positive, welcoming and collaborative work environment, with various initiatives that promote socializing and group spirit. Our facilities in Braga were designed to be a pleasant space for people, and we have received many compliments whenever someone visits us. Balance between personal and professional life: we have several initiatives that are extended to the family, everyone has more vacation days than required by law and we have the possibility of working in hybrid mode for almost all functions.
