SP&T News

Financial News
Milestone Systems surpasses DKK $1B in revenue

Long-term sustainable growth results in another record year for Milestone Systems.


April 14, 2020
By SP&T Staff
SP&T Staff

With an annual growth rate of 14 per cent over the last five years, Milestone Systems reports its net revenue increased to DKK1.03 billion Danish Krone (CDN$210 million) in 2019.

The positive revenue development primarily derived from an increase in license and Care sales. Moreover, 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,” said Interim CEO Lars Larsen, Milestone Systems, in a prepared statement.

“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.”

Advertisment

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.