IndigoVision sales surpass $50m mark in 2019
Edinburgh-based IndigoVision has seen a 9% rise in sales reaching $50.1 million for the financial year ended 31 December 2019.
IndigoVision is a leader in the design and supply of high performance, highly-intelligent video security systems for security installations of differing sizes and complexity.
IndigoVision has sales and support teams in 24 countries with its headquarters in Edinburgh and regional offices in New Jersey, Toronto, Dubai and Sao Paulo. It partners with a network of some 1,200 trained and authorised IndigoVision resellers to provide local system design, installation and servicing to IndigoVision’s system users.
The company’s gross margins were maintained in line with the prior year and with strong cost control, the company expects to report operating profit and EBITDA in line with market expectations.
Following the drawdown of $2.7m of the new bank facility to fund the cash consideration for the acquisition of AgoraSys SA, completed in November 2019, net cash in hand at 31 December 2019 was $2.0m.
The company’s preliminary results for the year ended 31 December 2019 will be published on 5 March 2019.