Milestone Systems releases 2020 annual report
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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 billion (AED 586 Million) in 2020, a decrease of 1% compared with 2019. The operating income (EBIT) was DKK 112 million (AED 656 million), a decrease of 9%, reflecting the pandemic’s impact on sales, an increase in development capacity and investments in new head counts to fuel 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.
During 2020, Milestone’s People First approach was tested to its core. It was crucial for Milestone to avoid restructuring while supporting its people — keeping them motivated and feeling included as part of the team. To support this, Milestone launched the Grow Together program that focuses on mental and physical health and knowledge-sharing about exercise, food and sleep. In addition, despite the COVID-19 pandemic, Milestone lived up to 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 optimised its support to help partners keep selling Milestone solutions. Product training went online with webinars attracting thousands of partners and, with the Milestone Care 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 continued growth journey. He concludes: “COVID-19 created a lot of uncertainty and unpredictability in 2020. The pandemic is not behind 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.”