CADMATIC revenues up 29% – turnover over €20 million

Posted on February 26, 2019

CADMATIC has achieved very strong growth and turnover figures for 2018: 29% growth resulting in record turnover of over €20 million. During the same period, the company’s number of staff has increased to over 140.

With exceptional results also reported in 2017, the last two years have seen rapid growth at CADMATIC. Over the two-year period, its turnover has increased 45%, its number of personnel by 25% and the number of user organizations by 20%.

“I am obviously delighted with our financial results for 2018. The growth we have achieved was phenomenal. CADMATIC has achieved a very strong position in the ship design software market where about 40% of all active shipyards worldwide are using our software. We have also seen significant growth in our software sales for plant design projects. Our software is currently being used by over 1000 user organizations in 57 countries,” says Jukka Rantala, CADMATIC CEO.

In December 2018, the company headquarters in Turku, Finland moved to new premises across the Aura river on Linnankatu 52. The new office will provide more space to accommodate the growing number of employees. Cadmatic currently has staff in Finland, the Netherlands, Hungary, Spain, Italy, Russia, United Arab Emirates, India, Singapore and China.

2018 breakthrough year to big shipyards and for information management solutions

In 2018 MEYER selected CADMATIC design and information management solutions for its yards in Finland and Germany.

During 2017 and 2018, Tsuneishi Shipbuilding Corporation, one of the world’s largest shipbuilding companies, implemented CADMATIC software. Tsuneishi annually builds about 50 different cargo ships and has shipyards and design offices in Japan, China and the Philippines.

Last year was also a breakthrough year for CADMATIC’s information management applications and solutions.

“Many customers have started showing interest in our eShare information management solution. For example, ENI from Italy, one of the biggest oil and gas companies in the world, has started using our solution worldwide to build their digital twin solutions and to manage their digital data. There has also been a lot of excitement around our augmented reality solutions (AR/VR) with Microsoft HoloLens and CADMATIC FollowApp cloud solution for project follow up. I think these new business areas will help us to continue on our strong growth path in the future too,” Rantala explains.