Ville Tolvanen // August 30 2018
H1 / 2018 CEO Review
CEO’s review H1 / 2018
Digitalist Group grows and becomes more international. The growth is due to key accounts and the acquisition of Grow Holding AB carried out in May. Together, Digitalist Group and Grow will concentrate on the development and design of comprehensive customer experiences for the clients. Grow strengthens Digitalist Group by adding capabilities within strategy, comprehensiveness and new key accounts. The industry knowhow of both companies complement each other and increases the role and value of Digitalist Group at their key clients.
During the second quarter, Digitalist Group grew by 33%, and the share of turnover from outside of Finland was 59%. During the first half year, the order intake grew by more than 70% compared to the reference period, hence creating better conditions for the rest of the year. The profitability of the company improved significantly in the second quarter compared to the first quarter. The result includes significant costs related to the carried out acquisitions, without which the operating result of the second quarter would have improved compared to the reference period.
During the review period, the company focused in developing its key accounts. The business operations of North America were strengthened with new key persons during the second quarter. The company signed an agreement in May to acquire Grow Holding AB and started the integration of business operations after finalizing the purchase. The Board of Directors of the company was strengthened in June 2018 and Andreas Rosenlew started as the fulltime Chairman of the Board.
Digitalist Group helps companies and communities to generate and build new services and comprehensive customer experiences. The key accounts of the company include e.g. Finning, Electrolux, Nokia, Honda, Spotify, Google, Tikkurila, Volvo Group and Finnair. The company operates in seven different studios in five different countries. The company is one of the most international companies in its reference group combining expertise in research, branding, design and technology.
The target for 2018 is to improve profitability, and to grow and globalize through the key accounts.
/ Ville Tolvanen, CEO