With an annual growth rate of 14 percent over the last five years, Milestone Systems’ has managed to achieve its major milestone for increasing the net revenue to DKK 1.03 billion in 2019. The operating income (EBIT) was DKK 124 million compared with DKK 194 million the previous year, a planned consequence of increased investments in innovation and development. Milestone Systems continued to increase sales in all its markets.
“Two major factors impact our positive result: Our continued focus on long-term sustainable growth, which has resulted in profitability every year, since our company was established 22 years ago. And perhaps more importantly, our people. Focusing on long-term sustainable growth requires the best people, who can identify the right opportunities for our company. If you don’t have the right people, even the strongest business strategy may fail,” says Interim CEO Lars Larsen, Milestone Systems.
In the past five years, Milestone Systems has nearly doubled the number of employees to more than 900 people. The past year increased investments have been made in research and development capacity, expanded engineering teams in Copenhagen and Sofia and the establishment of a new engineering hub in Barcelona.
Milestone Systems continues to deliver flexibility to its community of partners and end-customers, enabling them to respond fast to new disruptive technologies; its open technology platform that allows partners to integrate with its software. This year the company also launched its own open business platform, Milestone Marketplace that connects buyers and sellers to co-create innovative solutions. In 2020, the company will launch version 2.0 of the Milestone Marketplace that enables customers to find resellers and integrators who deliver video solutions.
“With these two open platforms, we continue to bring the power of open to our partners. To drive them forward, we have funded a program, Accelerate Innovation, with significant investments in our engineering teams. In 2019, we continued these investments, and as we have entered 2020, we are already starting to see the results,” continued Lars Larsen.
The company expects to further strengthen its global market position that will be driven by a continued expansion of its portfolio of products, including both Video Management Software and Network Video Recorders, as well as its international business ecosystem of channel partners, camera vendors, technology, and solution partners.