DENMARK – Milestone Systems, the open platform company in IP video management software (VMS), has again delivered strong results as indicated by the 2017 financial report. A solid growth of 24% over 2016 was achieved.
Net revenue was DKK 881M (EUR 118M), an increase of 24% compared to 2016 and operating income before depreciation and amortization (EBITDA) resulted in DKK 246M (EUR 33M), corresponding to an increase of 103%. Net income reached DKK 117M (EUR 16M).
“The overall video management market is growing, and we expect to grow even faster. We offer an open, reliable, scalable and best-of-breed platform enabled by our partner community, which attracts end-users in all segments of the market,” said Lars Thinggaard, President and CEO, Milestone Systems.
Milestone expects continued growth in 2018 and plans to increase investments in its community of partners with the aim to remain a market leader and to explore new ways of deploying video management software.
“We see a significant change in our industry. Not only is the use of video technology moving beyond security to becoming a tool that can help optimize businesses. We believe that our open platform and partner community will be the driving force for our continued growth and innovation and help us stay at the forefront of a more intelligent world,” said Lars Thinggaard, President and CEO, Milestone Systems.