Copenhagen -- April 9, 2018 -- Milestone Systems, the open platform company in IP video management software (VMS), once again delivers strong results as indicated by the 2017 financial report. A solid growth of 24 percent over 2016 was achieved.
Net revenue was DKK 881M (EUR 118M), an increase of 24 percent 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,” explains Lars Thinggaard, President and CEO, Milestone Systems.
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.
“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,” says Lars Thinggaard, President and CEO, Milestone Systems.
About Milestone
Milestone Systems is a leading provider of open platform video management software; technology that helps the world see how to ensure safety, protect assets and increase business efficiency. Milestone enables an open platform community that drives collaboration and innovation in the development and use of network video technology, with reliable and scalable solutions that are proven in more than 150,000 sites worldwide. Founded in 1998, Milestone is a stand-alone company in the Canon Group. For more information visit: www.milestonesys.com. For more news and viewpoints visit our microsite: The Milestone Post. Click here for information on Trademarks.
