Milestone Systems delivered significant and satisfactory financial results in 2018. The Group?s net revenue increased to DKK 934 million from DKK 881 million in 2017, while the operating income (EBIT) grew to DKK 195 million from DKK 171 million.
In 2018, Milestone Systems made strategic investments in several areas. The company also decided to accelerate innovation by increasing its development capacity by 45 percent by the end of 2019.
?Market trends are changing, with new disruptive waves in the market. In order to be able to ride these new waves, we must offer the most innovative video technology platform ? one that lets our partners address the challenges faced by our end-customers,? says President & CEO Lars Thinggaard, Milestone Systems.
With the increased R&D investments in 2018 and 2019, Milestone Systems wants to accelerate its leading position as an enabler of processing of video and data from solution partners in the security industry. Milestone Systems will also be launching initiatives that address needs beyond security, such as industrial IoT solutions for smart cities and businesses.
As part of the ?Accelerate Innovation? initiative, Milestone Systems introduced several activities in 2018 to engage developers in creating new, innovative solutions and technologies. 50 developers, designers, and business people were invited to the Milestone Hackathon to help hack the future of AI and IoT.
At the Milestone Developer Conference, Milestone Systems invited its developer community to learn more about software integration and to co-create solutions that will help bring video technology to the market.
In order to meet the need to increase its innovation capacity, Milestone Systems employed close to 200 new colleagues in 2018, across markets, functions, and nationalities. Substantial investments have also been made in Milestone Systems? open platform community of partners. Milestone Store was launched in 2018, a portal that makes it easier for partners to place orders and integrate with existing platforms and devices.
Milestone Marketplace, developed in 2018 and launched at MIPS Americas in February 2019, is a digital platform for the video technology industry that connects buyers and sellers to co-create and market innovative solutions.
?We are in solid position and we expect to further expand our position in the years to come. We will continue our quest to be on the forefront of industry demands and bring even more innovation and co-creation to our products and services, but also go beyond security and build solutions for new business segments and purposes,? said Lars Thinggaard and concluded:
?Innovation, skills and people are vital to our success, so investments will continue in these areas in the years to come.?
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.