Flexible and open
Looking ahead, we see some significant changes in our industry because of the disruptive effect of new technology, and no one can know exactly how all this will play out. In an economy like this, Milestone needs flexibility to pivot quickly as we find future opportunities for our business.
Along with Milestone, our community partners also need flexibility to meet the challenges of the future economy. We deliver flexibility to our partners through our open platform. Looking back, when Milestone talked about open, we were referring to our open technology platform, and how partners can integrate with Milestone’s technology.
In 2019, we added Milestone Marketplace, our open business platform. Here, open refers to commerce and how partners can grow their business faster with Milestone.
With these two platforms we continue to bring the power of open to our partners.
To drive these Milestone platforms forward, in 2018, we planned to reduce our profitability for 2019 to fund a new program, Accelerate Innovation. The program called for significant investments to increase our research and development capacity. During 2019, we have established a new engineering hub in Barcelona and expanded our engineering teams in Copenhagen and Sofia.
The financial results for 2019 show the planned, reduced EBIT (earnings before interest and taxes) of DKK 124 million for the year. However, as we enter 2020, we are already starting to feel the energy of our stronger engineering team.