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CADMATIC records over 40% growth – turnover jumps to over 28,1 million euros

Thu, 04/16/2020 - 12:37

CADMATIC achieved strong growth and turnover figures for 2019. Growth of 43% resulted in record turnover of over 28,1 million euros. The company’s number of employees has grown to approximately 230.CADMATIC has grown strongly in recent years and since 2015, business volumes have tripled. In 2019, CADMATIC was listed as one of the most successful and profitable software companies in Finland.

CADMATIC’s Marine business area grew by 30% in 2019, while the Process & Industry business area grew by 61%. Exports accounted for 80% of turnover and software deliveries were done to 55 countries. The biggest export countries were the Netherlands, Germany and Japan.

In August 2019, CADMATIC acquired Finnish software company Kymdata Oy, which is specialized in industrial electrical, automation, and construction design software. The strategic acquisition expanded CADMATIC’s product offering and international marketing of the new electrical and automation design software was started immediately in the autumn. In Finland, the software is already the market leader. After the acquisition, CADMATIC’s business operations were divided into three customer segments: Marine, Process & Industry, and Construction.

“We invest strongly in product development, new technologies and digital and virtual operational models. Over the years, we have been the first to bring several innovations onto the market. Our investments have borne fruit and we believe this will continue. We have doubled our product development resources since 2018,” says CADMATIC CEO Jukka Rantala.

Highly skilled employees are the driving force behind CADMATIC and in 2019 the company decided to support engineering education by donating 50% of a professorship in technology education at the University of Turku in Finland.

“We are continuing our recruitment drive as planned, even though the Corona epidemic will probably affect our operations in the short term. We are also recruiting summer workers, even though most of it will be distance work, which creates its own set of management challenges,” Rantala concludes.

In the summer of 2019, Mandatum Life, a subsidiary of Sampo acquired a 17% share in CADMATIC.

In photo: Jukka Rantala, CEO of CADMATIC is satisfied with the company's 2019 results.

Read the original press release here.