Milestone Systems Clocks strong growth in revenue in 2017

1st May 2018 | By Mouseworld Now Correspondent |

BENGALURU, India -1st May, 2018: Milestone Systems, an open platform company in IP video management software (VMS), has recorded strong growth as indicated by its 2017 financial report. The company registered a solid growth of 24% y-on-y over 2016.

Milestone registered a Net revenue of 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,” affirms LarsThinggaard, President and CEO, MilestoneSystems.

New ways of deploying video management solutions
Milestone Systems 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.

Thinggaard further adds, “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.”

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