Acquisition by acquisition, Zetadisplay wants to take on the whole of Europe. The latest one contributed to a 28.7% growth in Q2, raising the group’s revenue to EUR 14.4 million.
Zetadisplay, Europe’s third largest digital signage integrator, increased its turnover in Q2 of 2024 by 28.7 percent to EUR 14.4 million. This strong growth was primarily driven by the acquisition of British integrator Beyond Digital Solutions in April. Together with the earlier acquisition of Austrian Peakmedia, this helped Zetadisplay boost its recurring revenue, which is one of the big goals the company set for itself on its path to expand across Europe. In Q2, SaaS revenue grew by 24.5 percent to EUR 5.9 million, making up 40.9 percent of total revenue. On an organic basis, SaaS revenue rose by 6.5 percent.
Zetadisplay financed the acquisition of Beyond Digital Solutions using capital from its owner, Hanover. In his comments on the quarterly results, CEO Anders Olin expressed strong satisfaction with the acquisition, noting that it improved the EBITDA margin to 17.1% and strengthened Zetadisplay’s market position in Europe. Although the gross margin decreased due to the recent acquisitions, Zetadisplay attributes this decline to the increased share of third-party solutions. The company expects this trend to reverse as integration continues.
Relocation to new headquarters in Malmö
In Q2 of this year, Zetadisplay completed the relocation of its headquarters to a more central location in Malmö, Sweden. With the move, the company intends to achieve further cost savings. CEO Anders Olin also aims to continue the transformation course he had steered the company towards when he accepted his position in 2023: Simplifying and expanding the organization to establish the foundation of a complex, multinational entity.
Anders Olin acknowledges in his comments that the market situation remains sluggish. However, Zetadisplay has apparently been able to land projects both locally and internationally, including an already announced contract with Arlanda Express, the airport express line in Stockholm.
