Milestone Systems has delivered “significant and satisfactory” financial results in 2018. The Group’s net revenue increased to DKK 934 million from DKK 881 million in 2017, while the operating income (EBIT) grew to a figure of DKK 195 million from DKK 171 million.
Profit before corporate tax was DKK 209 million in 2018 compared with DKK 154 million in 2017, corresponding to an increase of 36%. The total Balance Sheet as of 31 December 2018 was DKK 1,201 million set against DKK 932 million on 31 December 2017. The total equity was DKK 630 million at the end of 2018, compared with DKK 483 million at the close of 2017. Cash at the bank and in hand as of 31 December 2018 was DKK 249 million compared to DKK 201 million on 31 December 2017.
In 2018, Milestone Systems made strategic investments in several areas. The company also decided to accelerate innovation by determining to increase its development capacity by 45% come the end of this year.
“Market trends are changing, with new disruptive waves appearing,” explained Lars Thinggaard, president and CEO at Milestone Systems. “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 end user customers.”
Given the increased R&D investments in 2018 and 2019, Milestone Systems wants to accelerate its position in the market as an enabler of the processing of video and data from solution partners in the security industry. The company will also be launching initiatives designed to address needs beyond security, such as industrial Internet of Things (IoT) solutions for Smart Cities and businesses.