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Redpill Linpro reports strong results for 2023

• With SEK 800 million in turnover, growth continues for the digital societies builder, up 15 per cent from 2022 with a profit of over SEK 100 million. • The core business consulting grew strongly with a 27 per cent increase in turnover in 2023. • Customer growth in both the private and public sectors with several large and long-term deals.

The open-source specialist and digital societies builder Redpill Linpro reported earnings for 2023. The company, which has offices in Sweden, Norway and Denmark, reported strong results with a 15 % increase in turnover compared to 2022 totaling SEK 800 million and a profit of just over SEK 100 million. In the Group's core business of consulting services, sales increased by as much as 27 per cent. Redpill Linpro delivers consulting services, cloud operations and is a reseller of products and services with a strong focus on open source.

"I am very pleased with the results we are making in 2023, where especially the growth in our core business consulting business is a sign of strength, and this in a market that is described as tough by the industry", comments CEO Henrik Gavelli.

Redpill Linpro has continued to further develop its offering to meet both public and private sector demand for digital services that both strengthen companies and build a stronger society. The company's existing business areas in development, infrastructure, cloud, analytics and digital business support are now complemented by IT management and cybersecurity to further support customers in their digital journey.

"Our efforts to build an organisation with experienced specialist consultants who focus on customer projects that require both deep technical knowledge and solid business understanding continue to yield good results," says Henrik Gavelli.

In terms of customers, Redpill Linpro is traditionally a major supplier to the public sector. In parallel with this focus, the Group has built an increasingly strong offer also to private enterprises and this is an area that has yielded results in 2023. During the year, several major new contracts have been signed in segments such as industry, energy and healthcare throughout the Nordic region.

"I am very proud that we are continuing to be trusted to contribute to the digitalisation of the public sector. At the same time, I am pleased that our focus on the private business side is growing rapidly. We will continue to address both segments and in particular look at opportunities in areas such as critical infrastructure where collaboration between private and public actors is becoming increasingly common. Even if the market is under some pressure, the need for digitalisation remains very high," concludes Henrik Gavelli.

Henrik Gavelli

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Chief Executive Officer

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Written by Susannah Eriksson