Spatineo’s Financial Statements Bulletin January-December 2019

STRONG GROWTH AND A PROFITABLE RESULT

• Net turnover increased by 66 % to EUR 813,061 (1-12/2018: EUR 488,340) as Spatineo’s has successfully deployed the new strategy to grow consultancy services.
• Profit for the financial year was positive at EUR 54,702 (EUR -83,011).
• Major Spatineo Monitor customers signed in Finland, Portugal and Spain.
• Consultancy revenue doubled from 2018.

Key Figures

Net turnover, EUR 1,000

1-12/2019 | 813

1-12/2018 | 488

Operating profit, EUR 1,000

1-12/2019 | 55

1-12/2018 | -81

% net turnover

   1-12/2019 | 6.7

Profit for the financial year, EUR 1,000

   1-12/2019 | 55

1-12/2018 | -83

% net turnover

   1-12/2019 | 6.7

Sampo Savolainen, Managing Director

Our SaaS revenue developed favourably and we won several new clients from different European countries. Our strategy to develop consultancy services is working and the revenue from these services doubled compared to 2018. The deployment of this strategy has been successful thanks to our highly skilled team and partner network. In addition to customer projects, we have also contributed to the GIS ecosystem by participating in ISO and Open Geospatial Consortium standards development and participating in and helping organise events such as INSPIRE Helsinki 2019. Our revenue for 2020 is expected to remain stable despite the corona pandemic. We will move to a new office in Helsinki and continue on our successful path.

SPATINEO OY

For additional information, please contact:

Sampo Savolainen, Managing Director, tel. +358 (0)40 755 5649, sampo.savolainen@spatineo.com

Spatineo 

Spatineo provides expert consultancy and SaaS-solutions to help its customers design, implement, monitor and develop their spatial web services and infrastructure. It is a member of OGC (Open Geospatial Consortium) and an active contributor to the technical development of the INSPIRE Directive.

Operating from Finland, Spatineo has customers all around Europe and the Americas. Most customers are national or regional level authorities responsible for offering open data through spatial web services. Spatineo serves a variety of industries and organisations such as mapping, cadastral and land registry authorities, environmental and natural resources organisations, transport agencies and IT service providers.

Spatineo was founded in 2011 and is headquartered in Helsinki, Finland.