TARGIT has once again set a record for turnover, cementing the trend of significant product development of recent years. Both the US and EMEA made positive advancements in 2016 which reinforces the company's strategy for continued momentum in the future.
TARGIT, Denmark's largest business intelligence developer, has just been sold to GRO Capital, and it seems that the investment already reflects positively. TARGIT’s recently filed financial statements for the year 2016 once again managed to increase its turnover. TARGIT landed a turnover of $13.3M USD in 2016 against $12.4M USD in 2015.
Growth in software licenses sales increased by 9 percent compared to 2015. In EMEA alone, software sales increased by 13 percent. This corresponds to the company’s original budget forecasts, made even more significant due to the exceptionally healthy year for the company in 2015.
In the Americas (U.S., Canada, and South America) 2016 began in line with expectations, but Q4 sales increased by 192 percent. TARGIT is now confident that after 4 years embedded in the U.S. market, the company is now well established and poised for continued growth.
Operating profit before depreciation (EBITDA) landed on $2.4M USD in 2016 and profit before tax (EBIT) landed at $1.8M USD. The result is slightly lower than in 2015 owing to the company’s investment of close to $1M USD in a relatively large expansion of the staff in research and product development. It is expected this investment will be paid off in the 2017 financial statements.
"The financial statements of 2016 reflect a classic and solid TARGIT year with significant of advancements in our technology and growth as a company,” says Jesper Berntson, TARGIT CFO and co-owner. “These record-breaking results demonstrate that we’re solidly on the growth track and that our important home market in Denmark also follows with further growth. I do not see any brake lights anywhere.”
For further information, please contact:
Jesper Berntson, CFO, TARGIT, tel. 20 66 46 96 or e-mail: email@example.com
Press Service: Jacob Lange, Lange PR, tel. 20 76 30 20 or e-mail: firstname.lastname@example.org
TARGIT is the software company behind TARGIT Decision Suite, the leading business intelligence and analytics solution for all business users. TARGIT has a long history of innovation, agility, and patented technology focused on people. The company’s modern analytics platform delivers easier ways to work with data and creates a real impact for every customer. TARGIT's mission is to transform entire organizations by curating actionable insights that lead to better and faster decisions to improve profitability, productivity, and competitiveness. To learn more about TARGIT and its innovative solutions explore www.TARGIT.com and follow us on LinkedIn