International. Milestone Systems released the results of its 2020 annual report in which it reported a net income of one billion Danish kroner (around US$160 million), which meant a decrease of 1% compared to 2019.
Operating income (EBIT) was DKK 112 million (approximately US$20 million), a decrease of 9%, as a result of the impact of the pandemic on sales, an increase in development capacity and investments in new workforces to drive future growth.
"Given the challenging situation of the pandemic, our annual result is a successful outcome, made possible by our people, without which long-term sustainable growth would not be possible. We quickly changed the way we run the company and found new ways to support our partner network. This resilience combined with the adaptability of our people and partners prepared us to meet new challenges," said Milestone Systems CEO Thomas Jensen.
People first
During 2020, Milestone's People First approach was tested at its core. For Milestone it was essential 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, the brand launched the Grow Together program, focusing on physical and mental health and sharing knowledge about exercise, eating and sleep.
In addition, 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 by the end of 2020.
Increased partner support
The extensive network of technology channels and partners is at the core of Milestone's open video technology platform. When the pandemic hit, Milestone optimized support to help partners continue to sell the company's solutions.
The product training was conducted online with webinars that attracted thousands of partners, and with the Milestone Care ™ campaign, the company helped its partners continue their business without having to be on-site with their customers.
Looking ahead, Thomas Jensen expects challenges, but he also sees Milestone's continued growth journey ahead: "COVID-19 created a lot of uncertainty and unpredictability in 2020. The pandemic is not over 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 year of growth for Milestone," concludes Thomas Jensen.
