Lars Thinggaard
Milestone Systems A/S’ CEO resigns after 17 successful years
Milestone Systems announces that Lars Thinggaard, President and Chief Executive Officer, has decided to leave the company. As a result, the Board has started an open search to appoint a successor to Mr. Thinggaard. During the intervening period, Lars Larsen, Milestone Systems? Chief Financial Officer, will serve as Interim CEO. Lars Thinggaard has been President and CEO of Milestone Systems for 17 years.
Milestone Systems Annual Report: Increased Investments and Solid Growth
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.
Milestone Systems Accelerates Innovation: Increasing Development Capacity By 45%
Milestone Systems will increase innovation capacity by 45% by 2019 year-end and deliver on its promise to develop unique innovations that will meet future market demands in six key long-term innovation areas. These innovation investments will take place in multiple locations between Copenhagen, Sofia and Barcelona. The objectives of this investment are to increase development capacity of disruptive innovations within deep driver integration, advanced rendering, IoT and metadata sources, online services, advanced data management and Milestone Systems? platform software development kit
Milestone Systems Ranked No. 1 Global VMS provider For The 10th Year Running
Milestone Systems? VMS revenue growth of 21% over 2016, compared to 8% for the overall market, led to the No. 1 Global VMS Provider ranking in the 2018 IHS Markit Market Research Report. For the 10th year in a row, Milestone Systems is the No. 1 global VMS vendor by company revenue, according to market research from business intelligence provider IHS Markit (NASDAQ: INFO). In 2017 Milestone Systems had a global VMS market share of 10.2%, an increase from 9.1% in 2016.
Milestone Systems Delivers Strong Revenue Growth In 2017
Milestone Systems once again delivers strong results as indicated by the 2017 financial report. A solid growth of 24% over 2016 was achieved. Strong growth rates enabled by best-of-breed and flexible solutions from Milestone Systems? open platform community. 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).