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Friday, 26.04.2024, 08:42
Nortal increased revenue, as well as operating profit, in 2018
According to Nortal’s Founder and
CEO, Priit Alamäe, the company showed strong results across all
home markets in Europe, the U.S. and in the GCC region in 2018 and expect to
continue at a similar rate this year. “For accelerating growth in Germany, the
Nordics and the U.S. during upcoming years, we recently concluded a 50 mln EUR
bond issue,” adds Alamäe.
Among the most important corporate events in 2018, Alamäe
lists establishing a subsidiary and building a strong presence in Germany, as
well as acquiring U.S. cloud modernization and software development company Dev9,
to bolster expansion and complement the offering.
“We made significant investments last year in growing our
business in Germany and the U.S.; we estimate these regions, along with the
Nordics, will become the largest contributors to the growth of the company in
2019,” says Alamäe.
Following the acquisition of cloud modernization company Dev9 at
the end of 2018, Nortal has started to invest in expanding
cloud offering in Europe in 2019 by establishing Cloud Centres of
Excellence (CCoE) in Vilnius and Helsinki. “With newly established
CCoE-s, we are able to bring best-in-class cloud expertise closer to our
customers in Europe,” adds Alamäe.
In 2018, the company also grew significantly in headcount,
increasing by more than 35% within the last year. “Access to best talent
continues to be one of the main challenges in the upcoming years in all of our
home markets for all companies in our sector — but we feel we can offer the
growth and challenges that top talent are looking for,” says Alamäe.
Due to fast growth in headcount last year and an estimated
increase in upcoming years, in 2018 significant investments were made into new
offices in Belgrade, Vilnius, Helsinki, Oulu, Stockholm and Seattle.
Among the most important new initiatives started in 2018,
Alamäe names breakthroughs in the healthcare sectors in Finland and the
UAE, digital transformation projects in Germany, and significant growth in the
area of e-commerce both in the Nordics and the U.S.
In Estonia, the company started a major project building a
new system for the Estonian Social Insurance Board, the entity responsible for
distributing more than 20% of the country’s annual budget each year in pensions
and benefits and for building next-generation proactive services for the public.
In 2018, among other successful launches, Nortal completed
the largest rollout to date for the Finnish Tax Administration. The rollout
included implementing individual income taxation with supporting
functionalities that affects all Finnish taxpayers.
In the GCC region last year, the company completed initial
milestones in a project for the Ministry of Finance and Ministry of Manpower in
Sultanate of Oman, enabling value-added tax collection and automation of
immigration processes.
For the purpose of simplifying the Group structure, in June
2019, the company will complete the merging of Nortal Group AS (NG,
100% owner of Nortal AS shares) and Nortal Group
Holding AS (NGH, 100% owner of NG shares).
Nortal is a multinational strategic change and
technology company. Combining the unique experience of transforming Estonia
into a digital leader and creating change in businesses with a strategic
approach and data-driven technology, our vision is to build a seamless
society. Nortal is present in 10 countries and employs 850
specialists who carry out high-impact projects across Europe, North America and
the GCC.