2017 was our first year as a public company and only our second year since we were founded. We are very happy and proud with the way the year progressed.
In all aspects, the market for service contract software has turned out much more positive than originally forecasted and our opportunities for creating a global unicorn business has never been more prominent.
Our IPO case was based on software to the automotive industry – with special focus on the authorised dealer base, but we have already seen huge demand for our solution to the entire workshop market. Also the dealer market for motorbikes, commercial vans, trailers and caravans is turning to OMNICAR to implement our solution.
Here are some of our major achievements:
- Since our listing in July, a broad variety of customers have deployed our SAM solution. We are proud that we have been able to attract among others the largest car dealer in Denmark, Bilernes Hus and one of the most prestigious workshop chains in the world, Bosch Car Service.
- We have attracted new investors for SEK 31 million at a share price of 15.5, an almost 300% increase compared to the listing price.
- We have introduced a new business model where dealers pay a percentage of their service contract revenue generated on OMNICAR’s SAM.
- We have also discovered that our addressable market is far bigger than originally described in our memorandum We almost doubled our revenue compared to 2016
“Overall, the new cars market in Scandinavia is projected to grow in the forecasted period. This will be the case both in terms of the value and the volume of the markets, and the growth is forecasted to continue through 2020. The new cars market is expected to reach a value of $40.2 billion in 2020, an increase of 31.4% since 2015. The pre-owned / used car market is almost three times the volume of the new car segment, and reached more than 2.1 million sold units in 2017 in total. The after-market is expected to increase by 28.8% from the 2017 value, and reach $18.8 billion in 2022 (Marketline 2018). “