“The listing on Oslo Børs today, marks a huge milestone for the company. We have received strong support from many new shareholders, and through the IPO we have built a solid platform for our growth ambitions in the years to come,” says Gustav Line, CEO.
With 95,000 individual users, employed in 9,000 companies in three countries, we have come a long way since System Konsult started as a supplier of software solutions to the shipbuilding industry on the northwestern coast of Norway.
“The construction industry is among the largest industries in the world, but also among the least productive. This is changing fast. Our solutions are the hub for our customers. They get full control of revenue and costs and make sure all rules and regulations are followed,” says Gustav Line.
After Valedo Partners III came in as owner in 2017, we accelerated our growth ambitions, and have taken an active role as a consolidator in the industry. In the period 2017-2020, we recorded an average annual revenue growth of 71 percent. The operating margins have improved, and in 2020, the adjusted EBITDA margin of the subsidiaries was 41 percent. In 2020, the revenue of the subsidiaries was NOK 219 million, of which almost all was recurring.
The growth is a combination of organic and driven by active approach to mergers and acquisitions. Going forward, we target 15-20 percent organic growth per year, and continue to be very active in terms of acquisitions. We are already the market leader in the Nordics, and over time we aim to become the leading provider of software to SME construction companies in Northwestern Europe.
“As a listed company with a strong shareholder base, we are ready for the next leg of our growth journey,” says Gustav Line.