Milestone Systems delivers strong revenue growth in 2017

President & CEO Lars Thinggaard, Milestone Systems, comments on Milestone’s annual report 2017


Milestone Systems annual report 2017 shows an increase in net revenue of DKK 881M (EUR 118M), corresponding to 24% compared to 2016 and close to a tripling of the profit.

“Our strategy is starting to pay off. The growth is solid in both of our main segments, and more cameras are being used per installation today. Meanwhile, our costs increase at a slower pace compared to our turnover,” says Lars Thinggaard. One year ago, Lars Thinggaard expected to double the business in five years, and the expectation remains unchanged:

“The market grows by 8-10% per year, and we plan to grow faster,” explains Lars Thinggaard. He continues: “The most important thing when Canon acquired (in 2014) was that we were still able to work with our own brand and cooperate with multiple camera manufacturers. Our turnover has doubled since then, and the number of camera manufacturers that we support  has increased from 130 ti 150. So we proved that we could remain successful as an independent company within a huge conglomerate. Our entrepreneurial spirit remains unchanged.

Retrieved from Finans.dk