09
Oct
2020

2019 was the Uptime Group’s most successful ever

Last year was the most successful for the Uptime Group ever. Economic results grew both in Estonia and in other countries, more than half of the turnover came from outside Estonia. The largest export market was Norway, followed by Denmark and the remaining markets on a smaller scale.

Uptime’s turnover last year was over 8.5 million euros, increasing by a third compared to the previous year, and EBITDA reached almost 2 million euros.

The largest customer segments in which Uptime operated last year were telecommunications and media. The largest customers in Estonia are Äripäev, Alexela, PERH, SMIT, G4S, Ekspress Grupp, Express Post, Elisa Eesti, Estonian Traffic Insurance Fund, ABB. Various Estonian public sector agencies and organizations are also important clients.

Last year, Uptime operated in Estonia, Norway, Switzerland and Denmark. In 2020, a majority stake was acquired in the Polish software company JMMJ, so Uptime is now also represented in this market.

In the so-called corona crisis that hit the economy in 2020, IT companies have fared better than many other industries. It is also a good time to consolidate: companies with a longer history, a stronger customer portfolio and a wider reach will survive better. Crises have usually been a time of joining forces. So Uptime is currently looking around in Estonia as well as in other markets to find teams that could join the group. Market consolidation took place before the crisis, and this process will certainly gain momentum now.