Unikie Oy’s annual report and financial statements for 2021: Growth accelerated by internationalization strategy

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11.5.2022

UNIKIE OY FINANCIAL STATEMENT RELEASE 11 May 2022 at 15.00 EEST

This press release is a summary Unikie’s key events in 2021. Unikie’s annual report and financial statements are available here.

Year 2021 (compared to 2020)

  • Unikie’s net revenue increased by 33% to EUR 44.1 (33.1) million.
  • Despite the pandemic, the company opened significant new customer accounts and sales developed well. The share of international sales increased by 83% and reached 35% of total sales.
  • The Group’s EBITDA amounted to EUR 2.7 (2.5) million. The company implemented its strategic investments in product development, internationalization, and strengthening of company structures. Operational efficiency remained good, which enabled the EBITDA margin to remain at a good level despite the implemented investments.
  • Profit for the financial year increased to EUR 1.7 (1.3) million
  • The number of Unikie’s own employees increased by 47% to 375 (245) at year-end. The Group employed a total of 468 (329) people at the end of the year.


Main events in 2021

  • Seppo Kuula started as Unikie’s new CEO on 1 January 2021.
  • Unikie’s organization was reorganized around the Automotive, Industry 4.0 and Secure Communications business areas.
  • Unikie expanded in Finland by establishing a new development unit in Kuopio.
  • Unikie accelerated its growth in international markets by, among other things, strongly expanding its international sales and supply network and by productizing and test-marketing its own technology components.
  • Unikie’s nearshore development continued with the opening of development units in Poland and Estonia.
  • Unikie invested significantly in research and development. The focus was on autonomous and assisted control solutions for gated locations, for example in the automotive industry and ports.
  • Unikie presented its automated parking solution at IAA Mobility 2021 in Munich, one of the most important events in the automotive industry.
  • Unikie was awarded as the Tivi Company of the Year and selected as Growth Company of the Year by the Kasvu Open organization.


Outlook

  • The Group’s turnover is expected to continue to grow in 2022.
  • Product development investments will be further increased to develop Unikie’s Awareness and Control Hub solutions.
  • Operational profitability is expected to remain at the same level as in 2021. The company’s performance will depend on the number of investments to product development.


Governance in 2022

  • Unikie Oy’s Annual General Meeting held on 26 April 2022 re-elected Esko Mertsalmi, Seppo Kolari and Juha Mikkola from the current members to the Board of Directors until the end of the following Annual General Meeting. Laura Raitio and Anssi Vanjoki were elected as new members of the Board.

 

Seppo Kuula, CEO:

“Unikie is one of the fastest growing IT companies in Finland in recent years, and in 2021 our strong growth continued across all metrics. Our revenue growth exceeded 33%, ending up at over EUR 44 million. The share of international trade increased by 83%, reaching 35% of sales. Our own personnel grew by 47% in 2021, and at the end of the year we employed 468 people, including our subcontractors. Our development theme for 2021 was the implementation of our international growth strategy, and with the indicators we have set, we can be quite satisfied with the results of this phase. Our people create the foundation for our company value, and we steer our strategic direction through talent management.

In addition to talent, we need demand and steerability. We successfully transformed our organization to manage competence and growth, greatly expanded our international sales and supply network, and at the same time productized and test-marketed our own technology components to build credibility and scalability in international markets. One of our brightest successes in showcasing our technology was at the world’s largest auto show, the IAA Mobility 2021, where, together with the world’s leading car manufacturers, we demonstrated the future of autonomous mobility with intelligent parking. Another example was the nomination of our port logistics application Port Activity App (POLO) as a finalist in the international Seatrade Awards, which was organized in partnership with Lloyd’s List.

Service business management starts with customer choices and the corresponding value propositions. Our strategic value proposition guided us to the need to harness real-time digital awareness. A real-time view of the process, combined with AI recommendations for action, complements human work and helps optimize the control of production and logistics processes, while enabling automated control where it was previously not possible.

Secure connections are an essential part of these applications. We operate in a fast-growing global market, where the limitless application possibilities are emerging with the internet of everything, advanced networking, and machine learning. Our customers are leading organizations in a wide range of industries, so we are in good company.

During the year, we received positive publicity as Unikie was chosen as the Tivi Company of the Year, where Finland’s leading IT publication selects the best company of the year from a list of 250 largest IT companies. In addition, we were selected as Growth Company of the Year by the Kasvu Open organization. I would like to thank all Unikieans, our customers, and partners for a successful year. It was a good year for all of us. It is good to move on to the next stage of our development. Together we are strong, and we will go far.”

Read Unikie’s annual report here.

More information:

Seppo Kuula, CEO, seppo.kuula@unikie.com, +358 40 370 0032
Jari Lindholm, VP, Marketing and Communications, jari.lindholm@unikie.com, +358400 493 340.

 

Unikie in brief

Unikie is a Finnish software technology company that develops technologies for secured real-time processes. Our services meet at the heart of three global macro trends – IoE, 5G and AI – where we enable the use of continuous situational awareness for autonomous mobility of vehicles and machines and augmented operational assistance. Our real-time technology brings added value to automated machine operations, process automation, logistics and inventory management. We are building a more concise image of the world by enabling people, machines, devices, and systems to perform seamlessly together. Our expertise enables the internet of everything, saving resources for the future in a sustainable way.

Founded in 2015, Unikie is one of Finland’s fastest growing technology companies. In 2021, our turnover was EUR 44 million. Our goal for the next few years is to continue strong international growth, as demand for our artificial intelligence, deep technology and security solutions grows rapidly worldwide. We employ almost 500 software developers in Finland, Sweden, Germany, Poland and the United States. Our customers include Sandvik, Nokia, Valmet and Ponsse.

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