Uniconta A/S sees accelerating growth in the first half of 2021
The first half of 2021 saw solid growth in the number of dealers of Uniconta’s ERP solutions. There was a growth of 49% in number of end users compared to 2020. The increase means that CEO and founder, Erik Damgaard, expects double-digit million profits for the whole of 2021.
The advancement of Uniconta continues. With a solid growth of 49% in number of end users of Uniconta’s cloud-based ERP systems for small and medium-sized companies, Uniconta A/S will continue its positive development in 2021. Uniconta A/S doubles its gross profit compared to the same period last year and correspondingly achieves an operating profit before depreciation (EBITDA) of DKK 5.8 million in the first half of 2021. An improvement of more than DKK 8 million.
Updated expectations for 2021
The positive development of accelerating growth and increased use of Uniconta’s solutions leads Uniconta A/S to raise its expectations for 2021’s net profit to approximately DKK 10 million.
Erik Damgaard, CEO Uniconta A/S
“In both 2020 and the first half of 2021, Uniconta has developed more positively than expected. We have an accelerating growth in the number of end users, and our dealers and accountants are becoming increasingly skilled at moving customers from our competitors’ older solutions to our newly developed Uniconta solution,” says CEO Erik Damgaard, founder of Uniconta and majority shareholder in the company.
Progress was achieved due to an establishment phase with a strategic focus on the development of Uniconta’s ERP solutions for small and medium-sized companies. Furthermore, focus was set on the strengthening of dealer networks and Uniconta’s organization, including support functions.
“We entered the market with prices that were very attractive in relation to the functionality we offered our customers. Today we are more market compliant but still competitive. My best assessment is that Uniconta’s success is due to a combination of the fact that we can continue to offer customers a great deal of functionality at an attractive price and – not least – ensure companies an easy and secure conversion to our solutions,” says Erik Damgaard.
Flexibility and easy conversion
Uniconta’s business model is based on offering small and medium-sized companies access to a complete online-based ERP system, where customers pay a monthly subscription to access a flexible and complete ERP system. The majority of Uniconta’s end users are currently centered on the Danish market, but the company’s solutions are currently implemented in 45 countries and are offered in 23 languages. The positive development in both 2020 and the first half of 2021 means that Uniconta is increasing the pace of development of the company’s solutions.