EcoOnline continues its growth journey and is reporting annual recurring revenues (ARR) at the year-end 2021 of NOK 434 million, with a year-over-year (YoY) growth of 37% and Full Year (FY) 2021 revenue growth of 41% with a proforma revenue of NOK 454 million.
EcoOnline, the leading European EHSQ SaaS provider of digital solutions for creating safer, healthier and more sustainable workplaces, is reporting strong performance in all areas confirming the foundation for long-term profitable growth.
– I am proud that we continue to add value and sustainability to our customers with our products, in addition to bringing in substantial competence and new offerings through acquisitions. We have a solid growing team, with a common purpose to protect people and the environment and an even more robust platform for continuing our growth journey in 2022 and forward, says Göran Lindö, CEO of EcoOnline.
CHAPTER 2
Reaching 7 100 customers
EcoOnline entered 2021 with a new brand and user experience, many new products, and improved upsell and cross-sell modules. During the year, more customers choose EcoOnline due to the broad platform offering, resulting in 1 187 new customers (where 752 are acquired organically, and 435 through acquisitions).
CHAPTER 3
A robust and solid outlook
In 2021 EcoOnline took a broad leap in its geographic reach through four acquisitions. By acquiring Engage EHS, Pilotech and Chymeia, EcoOnline strengthens its UKI and Nordic position and key new offerings.
In Q4, EcoOnline acquired Munio, a Norwegian company providing EHS eLearning and Learning Management Systems (LMS) with product extension into access and contractor management. Munio has a solid customer portfolio of larger manufacturing and chemical processing companies and is a strategic step for EcoOnline towards further German expansion.
EcoOnline ended the year with a strong financial position. With 365 million cash at year-end, EcoOnline has a strong financial platform for further organic growth. And in addition, a credit facility of EUR 114.5 million is to be used on potential additional acquisitions.
CHAPTER 4
A robust and solid outlook
In 2021 EcoOnline took a broad leap in its geographic reach through four acquisitions. By acquiring Engage EHS, Pilotech and Chymeia, EcoOnline strengthens its UKI and Nordic position and key new offerings.
In Q4, EcoOnline acquired Munio, a Norwegian company providing EHS eLearning and Learning Management Systems (LMS) with product extension into access and contractor management. Munio has a solid customer portfolio of larger manufacturing and chemical processing companies and is a strategic step for EcoOnline towards further German expansion.
EcoOnline ended the year with a strong financial position. With 365 million cash at year-end, EcoOnline has a strong financial platform for further organic growth. And in addition, a credit facility of EUR 114.5 million is to be used on potential additional acquisitions.
