COPENHAGEN – Milestone Systems says it delivered significant and satisfactory financial results in 2018, information detailed in its Annual Report for 2018.
The firm’s net revenue increased to DKK 934 million from DKK 881 million in 2017, while the operating income grew to DKK 195 million from DKK 171 million.
Milestone also decided to increase its development capacity by 45% by the end of 2019.
“Market trends are changing, with new disruptive waves in the market. In order to be able to ride these new waves, we must offer the most innovative video technology platform – one that lets our partners address the challenges faced by our end-customers,” said President and CEO Lars Thinggaard, Milestone Systems, in a prepared statement.
The firm says it wants to accelerate its position as an enabler of processing of video and data from solution partners in the security industry, and will also be launching initiatives that address needs beyond security, such as industrial IoT solutions for smart cities and businesses.
According the firm, it employed close to 200 new colleagues in 2018. Substantial investments have also been made in Milestone Systems’ open platform community of partners. Milestone Store was launched in 2018, a portal that the firm says makes it easier for partners to place orders and integrate with existing platforms and devices. Milestone Marketplace, developed in 2018 and launched at MIPS Americas in February 2019, is a digital platform for the video technology industry that connects buyers and sellers to co-create and market solutions.
“We are in solid position and we expect to further expand our position in the years to come. We will continue our quest to be on the forefront of industry demands and bring even more innovation and co-creation to our products and services, but also go beyond security and build solutions for new business segments and purposes,” said Thinggaard. “Innovation, skills and people are vital to our success, so investments will continue in these areas in the years to come.”