Well on track with around 50% growth

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The business development of artec technologies AG (ISIN DE0005209589) in 2020 was positive overall, despite challenges related to the corona pandemic, reports the company from Diepholz / Bremen. After annual sales that increased by around 50% to EUR 3.15 million, the Management Board expects – as forecast, subject to the review – a significantly improved result compared to the same period of the previous year (earnings before taxes 2019: -0.68 million Euro).

In addition to the positive operational development, artec has achieved important strategic milestones, especially in the business with authorities and organizations with security tasks (BOS), from which the company will benefit in the future. In 2020 artec achieved around two thirds of its sales with customers from the BOS area.

In 2020, the company artec agreed new contracts for recurring sales with service, cloud services and software upgrades with a term of up to 4 years in the amount of 750,000 euros. This means that incoming orders in the area of ​​recurring sales were at a record level and well above the planned 500,000 euros. The clients are existing and new customers from both the security and broadcast business areas. They include, for example, three companies – a sports broadcaster, a news agency and a sports academy – from Qatar. Artec was able to benefit from the market exit of a competitor in particular internationally and win new customers in Spain, Turkey, Oman and the United Arab Emirates. Orders from other media companies have been announced. However, due to the corona pandemic, orders are taking longer. In Germany, 8 of the 14 state media authorities are already among the artec customer base. Service and cloud services have been agreed with all of them.

In 2020, artec agreed service contracts with security authorities in German-speaking countries with a volume of 200,000 euros, according to the report from artec. Artec sees considerable growth potential in this area in particular. Together with specialists from German security authorities, the MULTIEYE BOS Manager was developed as a cloud-based platform for situation centers and control centers, e.g. for crime prevention. The BOS Manager has proven itself in practice with customers in 2020 and has met with great interest from security authorities in the DACH region – an excellent starting point for the future growth of artec technologies AG.