Net Insight shows continued growth in the first quarter 2021 | Major Businesses | Business | News | Rapid TV News
By continuing to use this site you consent to the use of cookies on your device as described in our privacy policy unless you have disabled them. You can change your cookie settings at any time but parts of our site will not function correctly without them. [Close]
As it follows it plan towards focusing its operations and achieving profitability, media networks provider Net Insight has revealed steady growth for the first quarter of the year with revenue from continued operations up by 2.6% on an annual basis to total SEK 77.9 million despite negative exchange rate effects.
Net Insight 1 28OCt2020
This meant for the quarter ended 31 March 2021, operating earnings were SEK 3.1 million, down from the SEK 4.8 million a year ago. Net income rose by 207% on an annual basis to SEK 4 million.

The last year has seen a number of key financial actions by the company. The Resource Optimisation business area was divested in 2021 and Streaming Solutions was divested in 2020. The divested business areas were reported separately as discontinued operations in the quarterly results and showed.

Commenting on the first quarter results, company CEO Crister Fritzson noted that following the last year’s strategic operational focus and initiatives aimed at the core operations in Media Networks in particular the divestment of the ScheduALL business line, Net Insight was now ready to communicate external financial targets of an average annual organic growth of at least 10% and an average annual EBIT margin (operating margin) of at least 10% until 2025. Covid was naturally a key element in these plans.

“The pandemic is not over yet and the market is continuing to adjust to the new reality,” Fritzson said. “The transition towards remote production continues, as well as demand for live events with higher transmission quality from traditional TV broadcasters and various streaming services. Although market activity is increasing, the market remains hesitant and a high proportion of business in the quarter is related to minor upgrades and network extensions.

“Over the past year, we have invested in Media Networks and accelerated product development. Our product investments are now focused on IP media, based on the ST 2110 standard, and IP video functionality, that supports our customers’ transition to IP and cloud-based production and distribution.”