Description of the business segments
The Solteq Digital Solutions segment’s services improve the customer experience in online environments. The solution may be an online store, mobile application, digital marketing or master data solution, or their combination.
The Solteq Customer Solutions segment provides services for store chains and hospitality operators undergoing changes brought about by digitalisation. The changes are related to both POS terminals, ERP systems and loyal customer schemes.
Digital solutions: Huge growth leap in online business solutions
We have a burning desire to reform digital commerce. We grew by more than 50%, launched modern mobile and web solutions and invested in the growth of omnicommerce business.
The revenue of the Solteq Digital Solutions segment grew by more than 50% to 31.9 million euro from 2015. The operating profit developed almost as positively. It grew by one third. The growth was driven by spearhead of our digital commerce solutions, in which business grew faster than the year before. It should, however, be borne in mind that part of this business is not comparable with the previous year due to M&A activities. However, it seems that our strategic focus on digital commerce has been a decision that will boost the development of the company.
Our aim is to continue providing our clients with better and better services by improving the quality of our deliveries and by offering them something new. In 2016, we decided to invest in mobile and web solutions. They have helped us enter into new markets both geographically and through a transfer to cutting edge web applications based on cloud solutions. We have already implemented the first customer solutions.
Another significant expansion of both the product offering and the client segment was a growth investment to Magento-based online stores. This enables us to extend our services to mid-market companies. We increased our Magento expertise organically and by acquiring Pardco Group Oy.
In Poland, we took a significant step forward operationally. Ilkka-Cristian Niemi, the new Country Manager, has strengthened the role of Solteq Poland as an essential part of Solteq and the local ICT labour market.
We are expecially pleased that we have won a new major client, who is a large and well-known Finnish player in its sector. We will provide the customer with a comprehensive solution related to supply chain management. We have all the reason to believe that online business will continue to grow this year, too.
SOK to renew its product information master data management with Solteq. Read more.
Growth investment in Nordic eCommerce business. Solteq establishes a Magento competence center. Read more.
Flying start to the Magento competence center. Solteq purchases Pardco Group Oy. Read more.
Assa Abloy, the global leader in access control solutions, expands globally through online stores to be established for more than a hundred brands and about 70 different markets. Read more.
Our client Sonera has been awarded as the best digital marketer in Finland several times, and also as the Digital Leader Number One in the Nordics in 2016.
When the use of cloud services and exibility requirements increased, Metso chose Solteq as its partner to ensure that integrations between different systems were implemented fluently and securely.
Customer Solutions: Digitalisation hits the core of commerce
Our roots are in the core of commerce. Therefore, we understand the importance of digitalisation of backend systems better many other.
The revenue of the Solteq Customer Solutions segment was 31.2 million euro, i.e. about six percent less than in 2015. The decrease in the revenue was mainly due to the more traditional retail solutions in the segment. The operating pro t of the segment decreased to 0.4 million euro (1.1 million euro). As we want to ensure that our solutions for commerce continue to be the best and most cost-effective in the industry, we launched an efficiency boosting programme concerning backend systems in June.
Our clients are having their backend systems digitalised, which is a necessary requirement for omnichannel encounters with their customers. In line with our strategy, we will focus on the digitalisation of the backend systems of dynamic mid-market retailers in the Nordic countries. The framework agreement that we signed with Musti ja Mirri Group Ltd on the delivery of a retail business solution in Finland, Sweden and Norway is an example of a customer project that complies with the new strategy.
The acquisition of Aponsa AB in October supports our growth strategy. We now have a stronger foothold in the Swedish market, and at the same time, we gained a good basecamp for Nordic market operations.
At the end of November, Ilkka Brander was appointed the new Vice President for the Solteq Customer Solutions segment. He has a strong track record in commerce, and he will lead the strategy compliant digitalisation of backend systems – the part of digital commerce that often is invisible to the end customers.
Solteq to deliver a retail business solution for Musti ja Mirri Group in Finland, Sweden and Norway. Read more.
The acquisition of Aponsa AB strengthens Solteq in the Swedish market. Read more.
Alko aims at superior customer service with new Solteq POS terminals. The backend processes are enhanced at the same time. Read more.
The Athlete’s Foot stepped into the Finnish footwear market. To support its operations, it gained a store system that facilitates sales.
Budget Sport’s omnichannel operating model and centralised chain management required that the backend system would support these features. The solution was ERP system from Solteq. Read more.
Load the whole report:
Read more about our Annual Report:
Annual reports and financial statements
Annual Report 2016
The year 2016 was a year of growth for Solteq. In addition to new clients in Finland, the Nordics and global, M&A activities also boosted our growth.
Annual Report 2016
Solteq's year 2016
Highlights of the year: sale of MainIoT, provider of maintenance systems, new digital commerce growth strategy, retail solutions for Musti ja Mirri in the Nordics, Aponsa AB – niche acquisition in the Nordic, decision to make growth investments in eCommerce and purchase of Pardco to boost the growth investment.
Annual Report 2016
Business development & growth investments
International growth in digital revolution. We are a growing, internationally expanding digital commerce expert. Our growth mostly comes from the Nordic countries, but also from Finland and designated global clients.
Annual Report 2016
Solteqians, clever digital saviours. Extraordinary solutions are produced by extraordinary individuals, by people who are committed to helping clients to success. The Solteqians are digital saviours!