Letter to shareowners 1 In our third full financial year we almost doubled in size and generated over $900 million (£687 million) of revenue. We continued to develop client conversion 2 at scale to achieve our ultimate 20 objective: 20 clients each generating revenues of over $20 million (£15.3 million) per annum over the period 2022–24. Dear shareowner • We continued to broaden and deepen our Whilst this growth, both organic and through Content and Data&Digital Media practices business combinations, is very satisfying, through organic growth and by the addition the delay in producing our 2021 results is of a further five Content, four Data&Digital unacceptable and embarrassing and significant Media and one Technology Services changes in our financial control, risk and companies in 2021 and one so far in governance structure and resources are being early 2022. implemented and planned to try to ensure this • We expanded into our third practice area doesn’t happen again. – Technology Services – enabling us to Top honours for any 2021 achievements should engage more deeply with CIOs and CTOs go to our (now) over 8,400 Monks globally in addition to CMOs, Chief Sales Officers who, no sooner than recovering from the and CDOs. strain and challenge of the pandemic, had • We introduced our single operating brand, to face the impact of the shocking events in Media.Monks, reflecting our seamless, fully Ukraine, but continue to respond unflinchingly. integrated offer for clients. Their creativity, adaptability, resilience and • We expanded our major client relationships hard work have made this success possible and broadened and deepened our and have started to prove the potency of our client roster. new age/new era, digital, data-driven, unitary • We appointed a global Chief Diversity model, which has gained significant traction. Officer and continued to embrace our The pandemic has, at the same time, diversity, equity and inclusion opportunities accelerated the drive to create a digital with unique, black-orientated fellowship world, together with the adoption of digital and female executive leadership transformation amongst consumers, across programmes, changed hiring practices and all media and within enterprises and, in turn, education programmes. stimulated the demand from clients for digital • We continued to make progress in our zero marketing expertise. carbon commitments targeting 2024, earlier • We continued to grow our top line at than most. industry-leading rates, despite covid-19, • We have currently achieved double $ and and have exhibited agility in developing new close to double £ Unicorn status in terms of content revenue streams quickly, in such stock market value, in only our third full year, areas as the Unreal Engine, the Metaverse, despite the significant stock market volatility, blockchain, crypto and NFTs, placing us at while expanding our balance sheet to take the forefront of these significant disruptions. advantage of combination opportunities. S4Capital Annual Report and Accounts 2021 9