News

Stibo Systems surging ahead worldwide

Press Release, August 18, 2016

The Stibo group has announced a record result for the year again. The expansion is to a large extent due to the fact that Stibo Systems is surging ahead on a world scale on one of the worlds fastest growing software markets, with Walmart, Philips and Sony among its customers. New units have opened in Brazil, Japan and South Korea.  

The Stibo group showed a new record result in its recent financial statement for 2015/2016, with a bottom line figure of DKK 157 million before tax (DKK 148 million in 2014/2015). Turnover was DKK 1.983 billion (DKK 1.874 billion in 2014/2015). This means a generous doubling of turnover over the last five years, while profits have almost quadrupled. The number of employees has also doubled in the same period, and today there are over 1200 employees.

“We take an optimistic view of the future and our opportunities for growth. In the new financial year we expect turnover to exceed DKK 2 billion, with more than a billion in equity capital,” says the group CEO, Hans Damgaard.

The three companies in the group all contribute to its profits, but the high-flyer is clearly Stibo Systems.

“Stibo Systems has just passed a milestone, achieving a turnover of USD 100 million or DKK 735 million and pre-tax profits of DKK 118 million. The CEO, Mikael Lyngsø, and his team prepared an ambitious plan five years ago, to triple the company’s turnover in five years. This plan has been fulfilled ), and the impressive developments show that they have succeeded in creating a global software company with the whole world as its home ground,” says Hans Damgaard.

Opening in Brazil, Japan and South Korea

The customer portfolio includes 300 customers from the USA, Europe, South America, Asia and Australia. Among them are names like Walmart in North America, Philips in Europe and Sony in Asia. Stibo Systems now has 19 units in 17 countries. During the financial year that has just ended, Stibo Systems opened new units in Brazil, Japan and South Korea, close to markets with enormous growth potential and new major customers and business partners. In the last year alone, 40 new customers have been added.

Stibo Systems has succeeded in becoming an important partner to global companies as they convert their business models to digital. Quantities of data in the global world are enormous.

“We have chosen to specialise in Master Data Management (MDM), which is basically all about the way we bring order to chaos – we create structure in these companies’ vast quantities of information, for instance about customers, products and suppliers,” says Hans Damgaard.

The worldwide market for Master Data Management is showing annual growth rates of 10 per cent, representing values at around DKK 10 billion a year. Stibo Systems achieved a growth rate this year of 18 per cent.

Digitalisation, Big Data and the Internet of Things

As companies throughout the world prepare to exploit the possibilities of digitalisation, Big Data and the Internet of Things, Stibo Systems is in a central role.

“We have been though an impressive growth phase, and we intend to continue growing and expanding through increasing license sales. With digitalisation, Big Data and the Internet of Things there is increasing demand for robust data solutions, and thus surging activity on the market for Master Data Management, where we have built up a unique global position,” says Hans Damgaard.

Further information is available from Hans Damgaard, CEO of the Stibo Group, tel.: + 45 4033 8939, e-mail: hans@stibo.com. 

The Stibo group

The Stibo group traces its history back to 1794, making the group one of the oldest companies in Denmark. With roots in the graphics business, Stibo has developed into its present form, with Stibo A/S as the parent of three companies operating in three different business areas.

Two of these companies, Stibo Systems and CCI, are active in software development and the associated consultancy services, and with 750 employees they are among the largest software developers in Denmark.

Stibo Systems specialises in Master Data Management solutions, while the main focus at CCI is on software for companies in the media. Several of the world’s greatest media houses are included in the customer portfolio, such as the New York Times, Gannett, Tribune, JP-Politikens Hus and the Times of India.

In 2015/2016 Stibo Systems generated DKK 735 million in turnover and made pre-tax profits of DKK 118 million. CCI generated a turnover of DKK 205 million, with profits of DKK 17 million.

In spring 2016 the Stibo group acquired a 40 per cent share of Inspari, a company specialising in Business Intelligence solutions.

Stibo Printing Solutions is the largest printing company in Scandinavia, with about 450 employees. Stibo Printing Solutions plays an active part in consolidating the Scandinavian printing market, and has recently acquired Sweden’s largest rotary printing press, Sörmlands Grafiska. In 2015/2016 Stibo Printing Solutions generated DKK 1,043 million in turnover and earned DKK 30 million in pre-tax profits.

Financial highlights

DKK’000 2015/16 2014/15 2013/14 *2012/13 *2011/12
           
Key figures          
Revenue 1,983,969 1,874,225 1,816,065 1,634,650 946,107
Gross profit 1,034,376 946,078 843,866 729,789 484,819
Operating profit 154,525 147,744 115,270 128,438 41,681
Profit before financial income and expenses 161,185 150,505 115,631 131,387 42,134
Profit/Loss from financial income and expense, net -3,999 -2,188 -6,361 -2,338 1,652
Profit before tax 157,186 148,317 109,270 129,049 43,786
Profit for the year 118,110 108,027 81,027 93,539 31,384
Non-current assets 446,811 485,161 513,320 541,288 419,551
Current assets 1,081,214 959,423 789,393 663,111 519,875
Total assets 1,528,025 1,444,584 1,302,713 1,204,399 939,426
Share capital 25,000 25,000 25,000 25,000 25,000
Equity 917,728 795,720 694,673 615,835 519,611
Provisions 49,339 51,515 50,310 31,769 24,900
Non-current liabilities 104,528 116,287 129,907 142,470 107,980
Current liabilities 456,430 481,062 427,823 414,325 286,935
Investments for the year in property, plant and equipment 50,712 26,576 16,224 19,397 47,075
Financial ratios
Operating margin 7.8 7.9 6.4 7.9 4.4
Return on capital employed 16.5 15.9 12.5 16.3 6.6
Gross margin 52.1 50.5 46.5 44.6 51.2
Solvency ratio 60.1 55.1 53.3 51.1 55.3
Return on equity 13.8 14.5 12.4 16.5 6.2
Average number of employees 1,112 1,075 967 868 608

*The comparative figures for 2011/12 and 2012/13 relate to Stibo A/S.

Financial highlights for Stibo Systems:

Revenue: DKK 735 million

Profit (EBIT): DKK 118 million

Number employed at year-end: 511

 

Financial highlights for CCI:

Revenue: DKK 205 million

Profit (EBIT): DKK 17 million

Number employed at year-end: 215

 

Financial highlights for Stibo Printing Solutions:

Revenue: DKK 1,043 million

Profit (EBIT): DKK 30 million

Number employed at year-end: 458

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