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Saturday, June 15, 2024

Vizrt sets new revenue record

Bergen-based graphics firm Vizrt set a new revenue record last year and now looks forward to another year of major news events that are likely to provide more demand for its content production tools.

Newspaper Dagens Næringsliv (DN) reported that Vizrt, short for “Visualization in Real Time,” has never had higher revenues than in 2011. Upcoming events like the Olympics, the European football championships at the presidential election in the US are expected to boost revenues as well.

Vizrt delivers advanced graphics and production tools to television companies all over the world, including CNN, BBC, Sky and online new outlets as well. Last year its revenues hit NOK 721 million, up 19 percent from 2010, reported DN. Operating profits were up 16 percent, to NOK 170 million, with pre-tax earnings up 4 percent to NOK 92 million.

Company officials cited an especially strong fourth quarter, with several new orders, and noted that more orders have arrived in January and February. “Based on our strong product line, combined with major events like the Olympics, Euro 2012 and the American presidential election in 2012, we see organic growth of around 13 percent in 2012,” Martin Burkhalter, chief executive of Vizrt, told DN. The company had more than 30 offices and around 600 employees as of late last year.

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