Published: 15. May 2017,
Press Release
Commenting on the release, company CEO, Joergen Raguse said; “In many ways, 2016 has been a pivotal year. Over the last twelve months we’ve maintained a focus on developing and resourcing the organization for growth, at the same time as becoming integrated into a new ownership structure. I’m immensely proud of Trackunit’s results at this time of change.”
Key strategic actions during 2016 have been clustered around realigning resources to support innovation in software and services to support the company’s market leading position in building, construction and industrial telematics. In the first instance, outsourcing the production of electronic systems has given the company flexibility to move away from its rural context. At the same time, Trackunit has committed to relocate its HQ into central Aalborg, which will help to attract talent to its data science, analytics and software development teams.
In the United States company growth is on track and Trackunit has started to build up a market leading presence to support this burgeoning market for its telematics solutions. Jorgen Raguse said; “There is no doubt that the US could be a major driver for the expansion of our business. In order to fully realize the scope of the opportunity as well as properly support our customers, it became critical to have full control over the way that our brand is represented. We took the difficult decision to terminate our cooperation with our local distribution partner. I count this as a short-term loss which in the longer term will develop into a stronger presence on the American continent.”
It is noted in the financial statements that Gross Profit has shown a small decrease from EURt 8.342 in 2015 to EURt 7.701 in 2016. EBITDA has shown an improvement of EURt 5.675 attributable to a reduction in special items including costs related to the sale of the company to new owners Goldman Sachs Merchant Banking Division and Gro Capital in 2015, and other costs associated with the acquisition of the German company Dreyer + Timm GmbH in September 2016.
Trackunit is among the world’s leading companies in the Industrial Internet of Things, delivering innovative solutions for the building, construction and industrial sectors. Trackunit telematics-based technology delivers efficiency, productivity and safety advantage throughout the value chain from from machine manufacturers and dealers to machine landlords, contractors and operators. Trackunit services its customers directly from its headquarters in Denmark and through subsidiaries in Sweden, Norway, France, Holland, Germany, England and the United States.
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