Danish Milestone Systems A/S released its 2010 accounts, which show a 56-percent increase in revenue to more than US$42.2 million from $27.0 million in 2009. EBITDA more than doubled to $10.5 million from $4.7 million in 2009, with earnings of $4.1 million compared to $757,000 in the previous year.
Danish Milestone Systems A/S released its 2010 accounts, which show a 56-percent increase in revenue to more than US$42.2 million from $27.0 million in 2009. EBITDA more than doubled to $10.5 million from $4.7 million in 2009, with earnings of $4.1 million compared to $757,000 in the previous year.
"A strong focus on establishment of additional sales offices around the world, certification of partners and recruiting many new employees form the basis of the positive figures we can present today. Milestone Systems is stronger than ever in terms of market share and financial position and we expect this to continue in the coming years," said Lars Thinggaard, CEO of Milestone Systems.
While the financial crisis raged in 2008 and 2009, Milestone Systems made significant investments in building new markets. These investments paid off in 2010:
"Today we see the results of the strategy we implemented during the challenging years. We took some strategic decisions and expanded, even though it was tempting to do the opposite. Now Milestone Systems is very well positioned to build further on its leading market position," Thinggaard said.
"The reason for Milestone Systems' growth is our leading software. We have invested nearly $48.6 million in product development, which is one of the reasons we are the world leader in our business area. Today there are more than 100,000 Milestone systems installed and there are several thousand new customers monthly," Thinggaard said.
In 2010, Milestone Systems thanked Chairman of the board Ole Stangegaard for nine years of service. The new Chairman of the board, Jesper Balser, formerly held Senior Executive positions at Navision and Microsoft Business Solutions.