Milestone reports successful financial year despite pandemic conditions

Milestone Systems has announced its company financial results in an annual report, recording a drop of only one percent revenue compared to the previous year.

With a solid COVID-19 continuity plan, a strong focus on people retention and new ways of collaborating with partners, Milestone Systems achieved a net revenue of DKK 1 billion in 2020.

Milestone’s net revenue amounted to DKK 1.0 billion in 2020, a decrease of 1 percent compared with 2019. The operating income (EBIT) was DKK 112 million, a decrease of 9 per cent, a result of the pandemic’s impact on sales, an increase in development capacity, and investments in new head counts to fuel for future growth.

“Given the challenging situation of the pandemic, our annual result is a successful outcome, made possible by our people, without whom long-term sustainable growth would not be possible. We quickly turned around how we manage the company and found new ways of supporting our network of partners. This resilience combined with the adaptability of our people and partners prepared us to face the new challenges,” says Chief Executive Officer Thomas Jensen, Milestone Systems.

People First

During 2020, Milestone’s People First approach was tested to its core. It was crucial for Milestone to avoid restructuring and support its people, keep them motivated and feel included as part of the team in their daily work. To support this, Milestone launched the Grow Together program, focusing on mental and physical health and sharing knowledge about exercise, food, and sleep. Moreover, despite the COVID-19 pandemic, Milestone maintained the ambition to invest in people and growth, increasing the number of employees by 69 to a total of 934 at the end of 2020.

Increased support of partners

The wide network of channel and technology partners is the core of Milestone’s open video technology platform. When the pandemic hit, Milestone optimized the support to help partners keep selling Milestone solutions. Product training went online with webinars attracting

thousands of partners, and with the Milestone CareTM campaign, Milestone helped its partners to continue their business without having to be onsite with their customers.

Looking ahead, Thomas Jensen expects challenges but also looks forward to Milestone’s con- tinued growth journey:

“COVID-19 created a lot of uncertainty and unpredictability in 2020. The pandemic is not be- hind us yet, and therefore we see challenges as well as opportunities ahead. But with our strong COVID-19 continuity plan, we are confident that 2021 will become another growth year for Milestone,” Thomas Jensen concludes.