Our Annual General Meeting (AGM) 2020 was held in a new format due to venue restrictions as an effect of the ongoing COVID-19 pandemic. The meeting agenda was condensed and the mandatory CEO presentation about the highlights for 2019 was cancelled.
Instead, CEO Per Mandorf recorded this video for you (in Swedish, with English slides) going back to the highlights for 2019 and pointing out priorities for this year. Please tune in at the link below, 11 minutes of essential material to understand what we will up to during 2020.
The video covers the highlights for past years including the signing of two major framework agreements with leading international furniture retailers, additional contracts with Norwegian Hurtigruten and preparing the Group for further growth.
2019 in numbers
2019 has been another eventful year, with proactive initiatives on new communication concepts, customers, organisation and strategy helping to develop the Group’s finances as planned. ZetaDisplay reports net sales of MSEK 436.1 for the year as a whole, as well as a growth in SaaS revenues of 35%.
Looking ahead, CEO Per Mandorf points out „that the new year started with different priorities than planned. The ongoing COVID-19 pandemic has also an effect on our business. Group management has invested a lot of time analyzing the consequences for our operations. We have chosen to split our action plan into two: a short-term focus on liquidity and costs, while we long-term continue focusing on chosen strategic priorities.
We have simulated different scenarios and are confident that we have a solid base to act upon. Our business models contain a large degree of recurring SaaS-revenues and we have secured a long-term finance structure by launching a corporate bond of SEK 300 million during September 2019.“ Altogether, ZetaDisplay will carry on investing in its most important structural capital, i.e. its software, product and service concepts, and personnel.
We have a leading position in the Nordics and in the rest of Europe, and our global deliveries and contracts will increase our international presence even further. In 2020 we will take the next step in our development and continue to create value for our customers, shareholders and personnel despite the current insecure market situation.