Rising to a tough challenge has made us a stronger company
For Milestone, 2020 was a year of change that went beyond simply transitioning from our previous CEO to our new CEO.
Like other companies, we spent the year dealing with the demands and disruptions of COVID-19. Many of our employees were working from home and looking after their families, sometimes home-schooling their children, as well as taking care of their responsibilities at Milestone.
This required extraordinary commitment, professionalism, and resilience. The good news is, we can see that together we made a big difference. In 2020, our net revenue was DKK 1.0 billion, with earnings before interest and taxes (EBIT) DKK 112 million. This was a 1% percent drop in net revenue compared with 2019, a successful outcome given the hardships imposed on our business during 2020 by COVID-19.
Thank you to our employees, partners and customers for getting behind our purpose to make the world see.
One of Milestone’s strengths is our diversity, which has played a big role in our approach to handling COVID-19.
During 2020, we showed that at Milestone, our People First strategy really means people first. That’s easy to say in good times, but more difficult when you are confronted with a situation like COVID-19. Despite the challenges, we prioritized the safety and well-being of our colleagues, their families, and our partners, first.
One of Milestone’s strengths is our diversity, which has played a big role in our approach to handling COVID-19. We first saw the effects of COVID-19 in our Asia Pacific (APAC) offices and we were able to learn from the actions taken there. We quickly extended these precautions to our global organization. Everyone at Milestone is proud of the fact that we made 2020 a year of walking the talk for People First, both within and beyond Milestone.
This was reflected in our 2020 Global Employee Survey (GES) that produced our all-time highest levels of Satisfaction and Motivation and Loyalty. The Milestone Team reported employee engagement beyond industry benchmarks, and the margin of difference trend is increasing.
Helping our partners
COVID-19 has touched every one of Milestone’s partners around the world. Many companies are much harder hit than Milestone and will have to cope with disruptive financial consequences. We understand that our partners are part of Milestone’s future, and we are part of their future. Because of this, we changed the way we ran our company very quickly, and this has helped our partners and therefore our business. Here are two examples.
Moved partner training online:
We held hundreds of webinars in 2020. Our partners saw that we were trying to help and stepped up by encouraging thousands of their employees to attend. We even broke some of our own records, with over 450 registrations in a single day and 340 attendees at a single session. We were inspired to see our partners using the online training to be even better equipped to sell Milestone solutions during and after COVID-19.
2020 Care™ campaign:
We were eager to find a way for our partners to continue to grow their business without having to be onsite with their customers, which because of lockdown has not been an option in many regions. The 2020 Care campaign made this possible.
Most importantly, Milestone continued to deliver products to partners in all parts of the world.
We held the first partner event of the year, MIPS 2020, in Dallas, Texas. This would turn out to be the only MIPS of the year. More than 2,200 participants attended – 700 at the event and 1,500 online – to experience this year’s theme “The Power of Open”. We announced XProtect on Amazon Web Services (AWS) Marketplace and introduced the new Arcules-XProtect Hybrid VMS Solution. This was a game-changer for the industry and a big move towards cloud and hybrid for Milestone customers.
As we move into 2021, it is clear that COVID-19 is not behind us yet and we do not expect 2021 to be a walk in the park. The year 2020 also marked challenges as well as opportunities ahead. Still, we are optimists at heart, and looking at how the Milestone Team has risen to the challenge so far, we expect 2021 to be another growth year for Milestone. We look forward to accelerating our Agile strategy approach to continue our journey as a market leader both in and beyond security, and to further emphasize our focus on the responsible use of technology.
COVID-19 created a lot of uncertainty and unpredictability in 2020. Throughout the year, the Milestone Team rose to the challenge, often stepping up to put what was needed for the greater good ahead of individual interests. This has made us a stronger company in many ways.
The year 2020 also marked a transition to Thomas Jensen as new CEO from Lars Larsen, who was interim CEO during 2020. We are proud to maintain consistency across our executive management team with Lars Larsen, Kenneth Hune Petersen and Bjørn Skou Eilertsen.
Chief Executive Officer
Chief Financial Officer
Thomas Jensen joined Milestone as CEO in October 2020. People are at the core of Thomas Jensen’s leadership philosophy. This resonates wellwith Milestone’s Scandinavian leadership values and People First approach to management.
Thomas Jensen has a background at HP Inc. and most recently in Europe’s largest IT integrator company Bechtle. He is an executive leader with a strong global footprint that includes P&L responsibility for international businesses in software and hardware. He has deep business experience with IT and technology and an understanding of the dynamics of business communities, technology partners and integrators.
Thomas has also held leadership positions at Vestas Wind Systems and Maersk Line. He holds a Master of Science in International Business Economics from the University of Aalborg and has completed the Executive Board Program at INSEAD in France.
Making people the priority, Thomas will focus his attention at Milestone on transforming how video technology is used, both in security and in new applications beyond the industry.