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Conax reports strong growth

February 21, 2013 09.22 Europe/London  By

Morten Solbakken

Norwegian security specialist Conax says it reported strong growth in 2012 with additional contracts from 26 new pay–TV operators. An additional 4 new countries extended the reach of the Telenor-owned company to 85 territories.

Conax also enjoyed its highest shipped volume on record, closing 2012 with a 20% increase on volume over 2011. Q4 revenues also grew substantially, up by 9% from the same quarter in 2011.

Last week parent Telenor announced Conax had achieved Q4 revenues of NOK 167 million (€22.5 million).

“In 2012, Conax launched a new corporate strategy and brand, new products, new solutions and a new partnering strategy for securing our position in the value chain,” said Conax president and CEO, Morten Solbakken. “We are very pleased these efforts have also materialized in an increased customer base and record volume.”

Conax has also appointed Tor Eirik Knutsen as its new CFO. He joined the executive team on February 1.