Press release: RelateIT announces great financial results for 2021

RelateIT has published the annual financial report for 2021. This shows that RelateIT A/S grew both on gross profit and on profit before financial items compared to 2020. Gross profit has increased by 33% from DKK 75 million in 2020 to DKK 99.8 million in 2021, while profit before financial items increased by 31% to DKK 11 million. RelateIT A/S is the largest company in the RelateIT Group, which in addition to RelateIT A/S, consists of RelateIT DMCC and the software company XtensionIT.

The core business is nav and business central, but everything around is just as important

"Our core business has always been Microsoft NAV and Business Central, but in the past year, we have especially expanded our business with services around BC, as well as invested heavily in cloud solutions, which we will continue to do in the future. We believe that best-of-breed solutions are the way to go for our customers so they do not feel locked into self-developed adaptions in their ERP systems. Therefore, we have significantly increased our competencies within the Microsoft Power Automation platform and Power BI, as well as within web solutions and IT infrastructure, so that we can help our customers put together a solution that suits their needs and, at the same time, is very flexible.", says Simon Berthelsen, Managing Director, RelateIT.

RelateIT has been a supplier of Microsoft Power BI for a long time, and according to Simon Berthelsen, this is demanded by most companies, which means that a BI solution is a part of almost every new project. Power Automation and the so-called office robots, on the other hand, are a new world for many, but also an area in which the company is experiencing huge demand.

Many new employees and ongoing hiring

The increasing workload around BC, as well as within self-developed products, has meant that the company hired 34 new employees in 2021, and the employee intake has continued into 2022, and after just five months, more than 30 new employees have been welcomed. This has also meant that several of the six departments in Denmark and Dubai had to move into larger offices.

"Even though we, like everyone else in the industry, struggle to find the employees we need, we still hired a lot of people in 2021. We believe that this is because we can offer a workplace with exciting projects, an attractive culture, and good values. It is great to have many new faces, but it also means that we have a focus point about continuing to protect our culture and build our business around the good customer relations that we have done so far", Simon Berthelsen continues.

About RelateIT Group

RelateIT was founded in 2012 and delivers ERP solutions based on Microsoft NAV and Business Central, as well as associated solutions such as Power BI, Power Automation, Web, and IT infrastructure. Today, the group also consists of the software company XtensionIT, which primarily sells software through partners, and a company in Dubai, RelateIT DMCC. Overall, RelateIT Group employs 151 employees in five offices in Denmark and one in Dubai.

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