A record year for IST in 2016

A record year for IST in 2016

A record year for IST in 2016

27 / 4 - 2017

The edtech company IST has just released its annual report, in which it reports – among other things – a rise in profits of no less than 148% compared with the previous year. The number of users has passed the 5 million mark, while the number of employees has now reached 300.

“Behind the success is, among other things, an increased demand thanks to a driving digitising trend. Our systems and services have begun to gather real momentum on the market and are experiencing an increase in the number of customer enquiries on all domestic markets,” says Tommy Eklund, CEO of IST. 

Exceeds expectations
The record year in 2016 exceeded all expectations and produced an operating profit of around SEK 50 million, an increase of 148% on the previous year. “Financially we have experienced 2016 as the best in IST’s history, and we have strengthened our position as the leading supplier in the Scandinavian market. This is obviously very good indeed, but long-term effects are even more important.We have succeeded in building a stable platform, one that gives us a solid foundation on which to build sustainable, profitable growth in the future,” Tommy Eklund notes.

Financial key figures for 2016

  • Sales revenue SEK 351 million (SEK 327 million)
  • Profit EBITDA SEK 50 million (SEK 20 million)
  • R & D investments SEK 67 million (SEK 56 million)
  • Sales growth 7% (3%)
  • Operating margin 14% (6%)

Significant events during the year:

  • IST invested SEK 10 million in research into digital learning processes and began a 10-year collaboration with Linnaeus University in Sweden.
  • For the first time in the company’s history, IST has moved into the consumer market, with parents as a new customer group.
  • The recruitment of Louise Bagewitz as CIO/Head of Business Support and Anna Brynås as Head of IST Home, who will both be part of Group management. Both have extensive leadership experience, added to which they have held several appointments in the management area. 

If you would like to examine the entire annual report, it is available to read and här.

For more information, contact

Tommy Eklund, CEO IST, tommy.eklund@ist.com, +46 76 610 56 30

IST is the Nordic region’s largest provider of IT solutions for schools and child care, and has worked in close partnership with schools for more than 30 years. Our goal is to improve the day-to-day activities and work of teachers, pupils and parents through smart IT solutions and value-creating services. The head office is located in Växjö, with additional offices in Stockholm, Linköping, Oslo and Roskilde. The company currently has around 300 employees, of whom approximately half have a background in schools or other teaching environments. Read more at www.ist.com.