Operations went well and the Company’s overall performance was good. This is especially true considering that last year presented significant operational challenges, there was some slowdown in the Icelandic economy, which both slowed down and postponed projects. Revenue increased, like in previous years, to just under ISK 15 billion. Profit was ISK 456 million, which is a normal decline from the approximately ISK 5.5 million record profits in 2018 following the sale of a stake in Tempo, but quite satisfactory in a historical context.
“Software-related operations and development of own solutions has been a key focus for Origo in recent years and software operations have increased significantly, particularly in the past year.”
Origo’s net profit was ISK 456 million in 2019. Revenue increased by 8% and EBITDA came in at ISK 1,006 million. Results varied by units, however. Software units were a lynchpin of Origo’s operations during the year, which reflects significant changes in the Company’s solution offering and needs of customers, who are increasingly using software solutions to enhance services and operations. One might say that Origo is at a turning point, traditionally being known for sales and service of hardware and related solutions rather than software solutions.
The revenue of Applicon, Sweden, an Origo software unit which focuses on the sale of business solutions to the financial services industry, rose 10% YoY. EBITDA also improved, increasing 10% YoY. Demand for Applicon's services is expected to remain strong in 2020, particularly from existing customers but also because a large number of banks and financial service institutions are now looking to digitize and modernize their operations.
The number of full-time equivalent positions was 445 at end of the year 2019 and the number of employees was 479, eight of them at Origo's facilities in Serbia. At Origo's subsidiaries, the number of employees at Applicon in Sweden was 52 at year-end, 24 at Tölvutek and 7 at Unimaze, of which 4 were in Serbia.
Average age is 42,7 years
Average years of employment is 9,1 years
We hired 71 employees in 2019
Total job satisfaction: 4,13
We received 2029 applications in 2019
The Board of Directors of Origo is composed of six members and follows the Guidelines on Corporate Governance issued by the Iceland Chamber of Commerce, the Iceland Stock Exchange and the Confederation of Icelandic Employers.
Borgartún 37105 Reykjavíkkt: 530292-2079Sími 5161000