Dan Korsgaard, CEO of Stibo DX
Stibo DX consolidates its market leader position with a strong financial result. During the 2019/20 fiscal year, revenue has increased from 157.2 to 195.7 million DKK, a growth of 24% compared to the previous fiscal year.
Stibo DX’s revenue growth is based on a strong sales performance by both Stibo DX and its subsidiary, Digital Collections.
Several new contracts have been signed for CUE installations in North America and Europe.
The merger between media companies Gannett and Gatehouse resulted in the formation of the largest news company in North America. The new Gannett company chose CUE technology for the entire company.
In Europe, the CUE publishing platform is further cementing its stronghold in the DACH region. Most of the largest media companies in Germany now rely on CUE as their content platform. Just before the end of the 2019/20 fiscal year, the large regional news publisher VRM (formerly Verlagsgruppe Rhein Main) signed a contract for a CUE installation.
Investments in innovation
Stibo DX’s strong financial result is a product of the company’s investments in innovation and targeted acquisitions. In 2014, Stibo DX purchased Norwegian CMS developer Escenic and in April 2019, the German developer of digital asset management platforms, Digital Collections, was added to the company family.
“”Our strategy is to make investments which contribute to innovation in our product portfolio and sustain our position as a market leader. Similarly, it’s a key priority for us to spend a lot of resources on development. Approx. 50% of the staff work with software development””
Dan Korsgaard
CEO of Stibo DX
”We can afford to take a long-term view on our business, because we have a strong owner in the Stibo Foundation. Being foundation-owned, we are less sensitive to market fluctuations. Our investments are not required to provide a short-term return,” says Dan Korsgaard.
Succesful market expansion
Stibo DX has recently launched a new strategy with the objective of establishing the CUE platform in new market verticals, such as retail, CPG, and distribution.
Similar to media companies, many enterprises need to be able to create and distribute content fast and efficiently across many different digital channels. As such, Stibo DX is using the CUE technology originally developed for media companies to also serve the needs of marketing departments.
Together with its sister company Stibo Systems, a leading provider of master data management (MDM) solutions, Stibo DX offers enterprises a ‘one-stop-shop’ for managing product information, digital assets, and content.
The new, integrated solution from Stibo DX and Stibo Systems enables enterprises to create and distribute rich, multichannel content based on master data in a seamless workflow. As such, Stibo DX and Stibo Systems are now able to cover a wider range of customer needs and offer a best-of-suite solution to enterprises in multiple verticals.
Stibo DX currently has several orders in the pipeline from enterprises in North America and Europe.
New investments
Despite the global COVID-19 crisis, Stibo DX looks to the near future with great optimism.
As part of its growth strategy, the company plans to make new investments in innovation and product development, including recruitment of several new software developers. Stibo DX expects to increase its staff by approx. 10% in total during the next 12 months.