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International Internet Magazine. Baltic States news & analytics Sunday, 21.04.2019, 05:36

Revenue of Cleveron grows 3.5-fold in 2017

BC, Tallinn, 13.04.2018.Print version
The revenue of Estonian delivery solutions company Cleveron AS grew nearly 3.5-fold to 11.2 million euros last year and the company's profit totaled 723,000 euros, compared with 212,000 euros of loss in 2016, informs LETA/BNS.

The strong revenue increase was mainly affected by the company launching serial production of PackRobots for Walmart. In addition, Posti Itella Estonia, Speedy and FoxPost expanded their parcel terminal networks and ordered additional CleverBoxes. Several new companies were added to the company's customer portfolio, including ASDA and Inditex, it can be seen from the company's annual report.

The average number of the company's workers grew 60% on year to 87 as production volumes increased.

Investments to fixed assets totaled 1.9 million euros last year.

In 2018, the company plans to continue development of new products. The goal is to launch three to five pilot projects with new clients. Another goal is to expand the sales and maintenance network in Europe, launch serial production of CleverFlex and complete expanding its factory in Viljandi.

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