IST continues its growth journey

IST continues its growth journey

Annual report 2017

30 / 5 - 2018

– Plan to hire at least one person a week until 2020

2017 was another financially good year for the ed tech company IST, which continues to gain market shares in all the home markets. The company grew by over 10 percent, delivered 10 percent in profits, and has invested 70 million in new products. Key take-aways from the annual report for IST published today.

– 2017 has been a fantastic year. We have during worked completely according to plan and accomplished what we expected, and even more. We are growing faster than the industry in general on all our home markets, which is proof that our services and systems meet the needs of our customers, says Tommy Eklund, CEO at IST.

Investing for the future
In 2017, IST has grown by about 100 people and now has over 400 employees. The company entered a completely new market, Germany, where it acquired the company RDT. IST made four further acquisitions during the year. Partnerships with Schoolido, Skolon and Jarocka in Sweden, and acquisition of UDDATA in Denmark. The plan is to employ at least one person a week until the year 2020 and to continue growing, both organically and with acquisitions.

– All indicators point to continued good growth. Our investments in both new products and new companies mean that we can double the growth rate in 2018. We have invested heavily in achieving results so far and we will continue to invest in order to deliver even greater value to our customers and users in the future. We expect to invest 100 million in new products during 2018, says Tommy Eklund.

Financial ratios for 2017
1      Sales SEK 386 million (351 million)
1     Result EBITDA SEK 36 million (SEK 50 million)
1     R&D Investments SEK 70 million (SEK 67 million)
   Sales growth 10% (7%)

Important events during the past year
1  IST entered the German market and acquired the ed tech company RDT (Ramcke Datentechnic GmbH), with 40 employees in offices in Neritz and Schmalkalden.
1  A further four acquisitions were completed in 2017. Partnerships with Schoolido, Skolon and Jarocka in Sweden and acquisition of UDDATA in Denmark.
1  A brand new Business area started up, IST Home, focusing on the learning process in a home perspective. In connection with the establishment, a new office was opened in Linköping.
1  IST Started a ten year collaboration with Linnaeus University and invested SEK 10 million in research in digital learning processes.
1  The cloud-based overall solution IST Everyday launched, with the ed tech products IST Administration, IST Learning, IST Schedule and IST Home.

If you want to have a look at the entire annual report, you can read and download it here.

For more information, contact
Tommy Eklund, CEO IST, Tommy.eklund@ist.com, TEL: +46 (0)76-610 56 30