Westermo Network Technologies AB
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Westermo Network Technologies AB - overview
Established
1975
Location
Vasteras, -, Sweden
Primary Industry
Telecoms
About
Founded in 1975 by founder Tore Andersson and based in Vasteras, Sweden, Westermo Network Technologies AB is a provider of industrial data communication solutions. In June 2024, Blu Wireless Technology Limited raised an amount of venture funding from investor Westermo Network Technologies AB. Following the transaction, Westermo Network Technologies now owns a minority stake in the company. As of June 2024, the company is led by CEO Jenny Sjödahl.
The company offers a wide range of products, including industrial ethernet switches, ethernet extenders, industrial routers, media converters, wireless and cellular modems, and various accessories. Westermo's proprietary operating system, WeOS operating system, which ensures resilient and secure IP networking, and WeConnect, a VPN service for remote network access. Additionally, Westermo provides WeConfig, a network configuration manager that simplifies and streamlines network setup and maintenance. The business caters to diverse sectors such as transport, water, and energy, delivering reliable networking solutions for applications ranging from railways to substations.
Westermo’s global presence spans over 40 countries, facilitated through a network of authorized distributors and local offices. The company will use the June 2024 funding to attain growth objectives.
Primary Industry
Telecoms
Sub Industries
Telecoms Providers & Services, Telecoms Equipment
Website
www.westermo.com
Total Amount Raised
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Westermo Network Technologies AB - financials
| Fiscal Year Ended | Dec 31, 2013 | Dec 31, 2014 | Dec 31, 2015 | Dec 31, 2016 | Dec 31, 2017 | Dec 31, 2018 | Dec 31, 2019 | Dec 31, 2020 | Dec 31, 2021 | Dec 31, 2022 |
|---|---|---|---|---|---|---|---|---|---|---|
| Revenue (USD) | 244,431,000 | 285,064,000 | 344,768,000 | 298,151,000 | 352,047,000 | 455,929,000 | 513,230,000 | - | - | - |
| % Revenue Growth (YoY) | - | 16.6% | 20.9% | (13.5%) | 18.1% | 29.5% | 12.6% | - | - | - |
| EBITDA (USD) | 20,263,000 | 33,440,000 | 15,171,000 | 1,756,000 | 16,004,000 | 30,465,000 | 49,359,000 | - | - | - |
| Operating Income (USD) | 14,640,000 | 27,675,000 | 9,253,000 | (3,918,000) | 11,874,000 | 23,045,000 | 40,625,000 | - | - | - |
| Operating Margin | 6.0% | 9.7% | 2.7% | (1.3%) | 3.4% | 5.1% | 7.9% | - | - | - |
| % EBITDA Margin | 8.3% | 11.7% | 4.4% | 0.6% | 4.5% | 6.7% | 9.6% | - | - | - |
| NET Income (USD) | 21,537,000 | 21,163,000 | 13,731,000 | 13,524,000 | 2,124,000 | (135,000) | 20,847,000 | - | - | - |
| % Net Margin | 8.8% | 7.4% | 4.0% | 4.5% | 0.6% | (0.0%) | 4.1% | - | - | - |
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