Milestone Systems has presented a strong financial report for 2016 with growth of 18% over 2015.
Milestone Systems reports 2016 invoiced revenue of DKK 805 M (EUR 108 M). Net revenue was DKK 709 M (EUR 95 M), an increase of 18% compared to 2015. Operating income before depreciation and amortization (EBITDA) resulted in DKK 121 M (EUR 16 M) and net income reached DKK 42 M (EUR 5.6 M).
With the reported growth, Milestone Systems has exceeded the overall growth in the market for video surveillance equipment, which is expected to have reached 6% in 2016.
“The reasons for our growth stem from our strong community of partners and customers, our open platform technology and investments in innovation and new technologies. We aim to continue this co-creation approach with our community and will keep investing in innovation in the years to come,” states Lars Thinggaard, President and CEO, Milestone Systems.
In 2016, Milestone Systems launched several new initiatives together with its community, among others, partners Intel and Siemens, and end-users Hyatt Hotels and Stockholm Metro.