Danish Milestone Systems A/S has released its 2010 accounts, which show a 56 percent increase in revenue to DKK 217.2M (€29.2M) from DKK 139.4M (€18.7M) in 2009. EBITDA more than doubled to DKK 54.1M (€7.3M) from DKK 24.4M (€3.3M) in 2009, with earnings of DKK 21.5M (€2.9M) compared to DKK 3.9M (€0.5M) 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," says Milestone Systems CEO Lars Thinggaard.
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," says CEO Lars Thinggaard.
In 2010 Milestone Systems’ staff expanded to an average of 246 employees from 181 in 2009, thereby continuing the company’s steady growth since its founding in 1998.
"The reason for Milestone Systems’ growth is our leading software. We have invested nearly DKK 250M 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," says CEO Lars Thinggaard.
The global market for video surveillance is growing steadily. Year after year Milestone Systems has expanded its representation worldwide through dealers, distributors, partners and its own offices.
In June 2010, Milestone Systems introduced XProtect® Essential, which is an advanced, yet simple and user-friendly software for smaller video surveillance installations. August saw the introduction of XProtect Go, an optimum "beginner product" for smaller companies and private users offered free to introduce analog users to IP technology. And in January 2011, Milestone launched version 4.0 of its flagship product, XProtect Corporate , with brand new features to satisfy even the highest demands for performance, flexibility, reliability, security and stability, designed for the largest multi-site needs within areas such as municipal surveillance, airports and railways.
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.
Milestone Systems expects the security market to maintain the positive trend in 2011 and future years, a view shared by most industry analysts. Milestone Systems is well positioned for the future.