The Swedish digital signage integrator Zetadisplay increased revenues by 6.4% to 11.1 million euros in the first quarter of 2024. With a SaaS share of 47.8%, Zetadisplay generated almost every second euro with software licenses and services. Since autumn 2023, the new management has been restructuring the company while acquiring integrators in UK and Austria.
Zetadisplay: Almost Every 2nd Euro Recurring
Positive development at Sweden’s largest digital signage integrator: the new CEO Anders Olin is bringing a breath of fresh air to the pan-European organization with a new management team. At the same time, the investor Hanover is fulfilling its promise to build Zetadisplay into a truly pan-European digital signage market leader with additional acquisitions.
With 6.4% organic growth, Zetadisplay is back on the growth track. The first quarter is traditionally one of the strongest, so a mid-single-digit growth rate is not yet a record story and is more in line with the general market development.
Zetadisplay was able to increase SaaS sales (software and service) organically by 11.5% to the equivalent of 5.3 million euros in the first three months. Consolidating the latest acquisitions of Peakmedia and Beyond, Zetadisplay recorded an increase of 21.7% in SaaS revenues vs Q1 2023. Overall, Zetadisplay and the investor Hanover are consistently building a recurring revenues business story, with every second euro of sales coming from software license fees and services.
