With an annual growth rate of 14 percent over the last five years, Milestone Systems’ net revenue increased to DKK 1.03 billion (AUD 240 million) in 2019. The operating income (EBIT) was DKK 124 million compared with DKK 194 million the previous year.
“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,” said Interim CEO Lars Larsen.
“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.
“In the past 5 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.
“We expect to further strengthen our global market position,” Larsen said. “Revenue growth will be driven by a continued expansion of our competitive portfolio of innovative products, including both video management software and NVRs, as well as our international business ecosystem of channel partners, camera vendors, technology, and solution partners. As in 2019, we expect to see continued growth in both invoiced revenue and net revenue. Costs are expected to grow in balance with the top-line growth.”
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