Report 11 Sep 2025

Engineering - Vendor Profile - Worldwide

Engineering, a multinational IT company headquartered in Italy, recorded revenues of around €1.8 billion in 2024, with nearly €1.5 billion generated domestically. While overall growth was modest at 2.5%, Italian operations grew slightly faster at 3.7%. The company faced challenges in Finance, Public Sector, Automotive, and Utilities, while Manufacturing, Transport, and Telecom & Media performed better. Internationally, activities remained stable, with Brazil focusing on AI and APIs for Telecom and Utilities, and North America leveraging its Industry eXcellence expertise in Manufacturing and Transport.

Despite market pressures, Engineering consolidated its technological position. Key initiatives included €28 million in R&D investments, participation in projects funded by Italy’s National Recovery and Resilience Plan, and a strong focus on human capital through its in-house academy, which delivered over 22,200 training days in 2024. Organizational efforts also targeted strengthening vertical business units, especially in Finance. However, leadership changes — including the resignation of former CEO Maximo Ibarra and other senior figures — raised concerns about governance and potential business disruption. PAC believes the company has strong resources but must reinforce its commercial strategy to sustain growth.

Strategically speaking, Engineering has adopted a matrix model combining technologies and industry sectors. It focuses on enabling technologies, such as AI, cloud, blockchain, IoT, security, and digital twins, while also advancing proprietary platforms for banking, utilities, healthcare, and retail. Through its IndX and ENG Digital divisions, Engineering supports digital transformation in manufacturing, transport, and other sectors. Partnerships with global tech vendors like AWS, Microsoft, and SAP have further reinforced its position. Overall, Engineering’s vertical approach and investment in innovation underline its ambition to remain a key IT leader.

This Vendor Profile provides more details and an assessment of Engineering’s strategy and positioning, as well as a detailed analysis of its offerings, vertical expertise, and performance.