2 June, 2022 | Controlant holds AGM and publishes results for 2021:

Controlant’s Annual General meeting was held where Controlant´s management presented financial results for 2021 and the outlook going forward. The outlook is positive and financial position is strong.

Controlant’s revenue increased tenfold in 2021, amounting to over $68 million. With an operating profit (EBITDA) of $24.3 million and net profit amounting to $10.6 million, this marks a significant turnaround from 2020s operating loss of $10.2 million.

Employee numbers continue to rise with 225 joining in 2021, Controlant now employs over 370 people in more than 10 countries with over 300 of those at the Icelandic head office. Controlant also has operations in the United States, the Netherlands, and Poland.

The strong growth has been driven by contracts with pharmaceutical company Pfizer who continue to use Controlant solutions in the distribution of Covid vaccines worldwide, with over 3.5 billion doses of the Pfizer vaccine successfully delivered last year.

Controlant has become a trusted partner of several of the world’s largest pharmaceutical companies, entering into long-term agreements with many. Those agreements, along with an expanding range of products and services, will support Controlant’s continued growth and development in years to come.

Controlant also serves companies from other industries, such as logistics and food.

FUTURE GROWTH DRIVEN BY INNOVATION AND A CLEAR VISION

At the annual general meeting, Controlant´s management presented the continued development of the company’s solutions and services, which are the result of extensive investments on R&D in recent years, with around 15% of turnover or $11 million invested in 2021. Innovation, paired with a clear vision of how to transform supply chains through automation and increased visibility is the foundation of Controlant´s future growth, leading ultimately to improved efficiency and reduced waste. This has already started to show and Controlant expects to double its revenue in 2022.

A STRONG POSITION AND INCREASED INTEREST FROM INTERNATIONAL INVESTORS

At the meeting, the management of Controlant detailed a strong financial position and positive outlook. The company is backed by a broad group of domestic and international investors. The number of shareholders increased by 100 in 2021 and is now around 250.