SEK 100 million profit and continued very strong profit margins as Redpill Linpro grew sales to SEK 685 million in 2022
Strong growth across Sweden, Norway, and Denmark with several new customers in both the public and private sectors
100 plus new employees joined Redpill Linpro in 2022 and at least the same anticipated for 2023.
The open-source specialist and digital societies builder Redpill Linpro reported earnings for 2022. The company, with offices in Sweden, Norway, and Denmark, reported its strongest result to date, with a profit of SEK 101 million. The reported turnover was SEK 685 million, and the profit margins for its consolidated business 15 percent, or SEK 130 million higher turnover compared to 2021. Redpill Linpro delivers consultancy, cloud operation and reselling of products and services. On its major delivery, consultancy business, the company reported high margins of 25 percent.
"It's clear that our strategy to build an organisation with experienced consultants that focus on customer projects that require both deep technical knowledge and solid business understanding has paid off,” said Henrik Gavelli, CEO of Redpill Linpro
He continues “With the good result in hand and customers continued high demand for solutions built on open source, we will now further elevate the execution of our strategy. From a recruitment perspective we will need to get at least 100 additional consultants onboard in the near future to help our customers to continue to build the digital society across the Nordic at full speed.”
With a strong focus on continuous growth Redpill Linpro's will reach a billion SEK company within a few years. Having built several different business units in areas such as the digital workplace, cloud, customer experience and api and integration, the company is now focusing its efforts in further strengthening its strategic advisory team.
"Looking at the 2022 result, I’m particularly pleased with how our core consultancy business has developed. The combination of our consultants’ deep technical knowledge and business understanding are critical competencies for us to grow further,” Henrik Gavelli continues.
In 2022, Redpill Linpro added 100 new employees. In this number, the personnel joining Redpill Linpro in connection to the acquisition of the Danish integration specialist in Aarhus is included. With its strong results, continued strong profit margins and 300 employees, Redpill Linpro is set to continue to build the organisation.
The company anticipates recruitment needs for 2023 is some 100 additional consultants for its 7 offices and 11 business units across Sweden, Norway, and Denmark.