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Milestone Systems A/S

Public limited companyCVR 20341130BrøndbyActive

Milestone Systems A/S is a public limited company, based in Brøndby, active in other software publishing, founded in 1997. Net profit fell 30% from 2024 to 2025, ending at DKK 183.4m. Measured by gross profit, it ranks no. 1 of 494 companies in the industry in the database. With 531 employees, the company is about 133 times larger than the industry median.

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Key figures · financial year 2025

RevenueDKK 2.2bn+9.6% vs. 2024
Net profitDKK 183.4m−30% vs. 2024
EquityDKK 1.7bn+7% vs. 2024
Employees531latest month from CVR

What has changed

calculated from recorded figures and dates

Financials: 2025 against 2024

  • Gross profit rose 10% (2024 → 2025), to DKK 2bn.
  • Revenue rose 10% (2024 → 2025), to DKK 2.2bn.
  • Net profit fell 30% (2024 → 2025), to DKK 183.4m.
  • Equity rose 7% (2024 → 2025), to DKK 1.7bn.

Employees

  • 12 fewer employees than a year earlier: 531 (07/2026) against 543 (07/2025).

Management and owners, last 24 months

  • New in management: Muhammad Kamran Shafique (board member, 01/06/2025), Jeppe Frandsen (ceo, 28/11/2025) and Seymour Erwin Liebman (deputy chair, 28/11/2025).
  • Stepped down: Thomas Jensen (ceo, 28/11/2025), Jeppe Frandsen (deputy chair, 28/11/2025) and Vibeke Krog Olsen (board member, 31/05/2025).

Registrations, last 24 months

  • 26/06/2025: Merger registered in CVR

Calculated from the latest two annual reports in sequence and from registrations in CVR. A figure that is missing in either year gives no line, and we derive no figures.

Financial statements

Financial years 2020–2025 · amounts in DKK thousand

Equity and net profit

DKK 0DKK 200mDKK 400mDKK 600mDKK 800mDKK 1bnDKK 1.2bnDKK 1.4bnDKK 1.6bn202020212022202320242025
EquityNet profit
Financial figures for Milestone Systems A/S
202020212022202320242025Change
Revenue1,016,7931,140,9121,488,1481,687,8512,003,0562,196,077+9.6%
Gross profit968,3151,087,1701,322,7981,529,3941,822,3991,999,035+9.7%
Operating profit (EBIT)112,91592,515−21,343104,905106,759103,990−2.6%
Profit before tax67,578121,66711,043109,905178,504194,051+8.7%
Net profit54,35797,4549,23376,592262,080183,383−30%
Total assets1,502,3721,635,9831,857,6702,078,1273,222,5623,232,509+0.3%
Equity706,024788,383799,249896,3611,543,8711,651,974+7%
Liabilities741,584809,8261,045,0251,160,9831,640,0861,577,473−3.8%
Cash and cash equivalents312,036155,271193,889292,377948,605624,610−34.2%
Average number of employees8669561,1481,2561,4311,489+4.1%

Source: annual reports filed with the Danish Business Authority (XBRL). Group figures; change is the latest year against the year before. “–” means the figure is not stated in the annual report.

Download the figures as CSV · free with an account, amounts in whole DKK

DKK 0DKK 200mDKK 400mDKK 600mDKK 800mDKK 1bnDKK 1.2bnDKK 1.4bnDKK 1.6bnDKK 1.8bnDKK 2bn202020212022202320242025
Gross profitMedian, the industry (499 companies)

Signals from the financial statements

calculated from the 2025 figures

  • Profit for five years in a row

    Net result has been positive in 2021–2025.

    How is this calculated?

    Net result is positive in the five latest annual reports in a row.

The signals are rules applied to the figures in the annual reports. They are not an assessment or credit rating of the company. See Data and method.

Annual reports

6 financial years
Annual reports for Milestone Systems A/S
Financial yearPeriodPublishedFigures forDocuments
202501/01/2025 – 31/12/202526/03/2026The groupPDF not statedXBRL
202401/01/2024 – 31/12/202427/03/2025The groupPDFXBRL
202301/01/2023 – 31/12/202303/04/2024The groupPDFXBRL
202201/01/2022 – 31/12/202230/03/2023The groupPDFXBRL
202101/01/2021 – 31/12/202121/04/2022The groupPDFXBRL
202001/01/2020 – 31/12/202008/04/2021The groupPDFXBRL

The figures from all the annual reports are shown on this page. The documents themselves (PDF and XBRL, the machine-readable edition) are downloaded with a Pro account: sign in or create a free account, and then choose Pro. XBRL is the edition the figures on the page are read from.

Employees

monthly figures from CVR
010020030040050060008/2309/2310/2311/2312/2301/2402/2403/2404/2405/2406/2407/2408/2409/2410/2411/2412/2401/2502/2503/2504/2505/2506/2507/2508/2509/2510/2511/2512/2501/2602/2603/2604/2605/2606/2607/26
Employees

Position in the industry

499 companies in the database

Comparison with the other companies in other software publishing based on the latest financial year.

Gross profitDKK 2bnNo. 1 of 494
Better than 100% of the companies in the industry
EquityDKK 1.7bnNo. 2 of 499
Better than 100% of the companies in the industry
Number of employees531No. 1 of 499
Better than 100% of the companies in the industry

Industry median: gross profit DKK 2.9m, net profit DKK 42,450, equity DKK 1.1m, 4 employees.

DKK 100kDKK 1.2mDKK 14.1mDKK 168.1mDKK 875.9mHere
Distribution of gross profit for 427 companies in the industry (latest financial year, logarithmic scale). Amber bar: where this company sits.

Compared with similar companies

size, age and company form
Rank among similar companies
GroupGross profitEquity
Companies with 500–999 employees207 companies in the comparison
No. 9of 189
Better than 96%
No. 32of 207
Better than 85%
Companies that are between 15 and 29 years old24,910 companies in the comparison
No. 27of 24,791
Better than 100%
No. 134of 24,909
Better than 99%
All companies of type A/S18,025 companies in the comparison
No. 62of 17,786
Better than 100%
No. 270of 18,024
Better than 99%

The rank is calculated among companies in the database with a figure for the latest financial year, and is shown only for groups of at least ten companies.

Compare with the industry

Other software publishing
Gross profit
  1. Milestone Systems A/SDKK 2bn
  2. Visma e-conomic A/SDKK 880.2m
  3. Google Denmark ApSDKK 382m
Net profit
  1. Milestone Systems A/SDKK 183.4m
  2. Visma e-conomic A/SDKK 456.2m
  3. Google Denmark ApSDKK 82.2m
Equity
  1. Milestone Systems A/SDKK 1.7bn
  2. Visma e-conomic A/SDKK 471.5m
  3. Google Denmark ApSDKK 464.3m
Employees
  1. Milestone Systems A/S531
  2. Visma e-conomic A/S456
  3. Google Denmark ApS147

Latest financial year per company. Choose up to three companies from the largest in the industry.

Owners and group

from the Public Ownership Register
Owners
  • Canon Inc.100%
Milestone Systems A/S

Management

8 active registrations

Executive management

Executive management at Milestone Systems A/S
NameRoleAppointed
Lars LarsenDirector01/10/2020
Jeppe FrandsenCEO28/11/2025

Board of directors

Board of directors at Milestone Systems A/S
NameRoleAppointed
Lau NormannChair of the board06/04/2021
John Sergio BlemBoard member06/04/2021
Monika Adele GermanaviciuteBoard member15/03/2024
Minoru AsadaBoard member01/10/2024
Muhammad Kamran ShafiqueBoard member01/06/2025
Seymour Erwin LiebmanDeputy chair28/11/2025
Founders
Asx 9667 ApS
Former management (37)
Former management at Milestone Systems A/S
NameRoleAppointedResigned
Steen SchierbeckDirector01/08/199714/12/1997
Henrik Friborg JacobsenDirector14/12/199701/01/2003
John Sergio BlemDirector14/12/199701/01/2003
Henrik Friborg JacobsenDeputy chair13/10/200023/03/2017
Lau NormannBoard member27/11/200019/04/2012
Paolo BlemBoard member27/11/200017/08/2001
Michael Brogaard MunkemoseBoard member27/11/200017/08/2001
Ole StangegaardChair of the board17/08/200105/05/2010
Lars ThinggaardDirector01/01/200331/07/2019
Allan Axel EimertBoard member14/04/200528/01/2007
Lars Bo IveBoard member16/04/200802/07/2008
Kim MacallanBoard member16/04/200831/07/2008
Per SøbyeDeputy board member16/04/200819/04/2012
Giuseppe ZoccoBoard member02/07/200807/07/2014
Jens Bo BerthelsenBoard member31/07/200819/04/2012
Jesper BalserChair of the board05/05/201018/03/2014
Hans Jørgen SkovgaardDeputy board member19/04/201216/03/2016
Peter Jacob Rosengren SørensenDeputy board member19/04/201230/06/2015
Artur Gevorkovic MagaljanBoard member19/04/201216/03/2016
Peter Jacobsen MansfeldtBoard member19/04/201216/03/2016
John Sergio BlemChair of the board18/03/201423/03/2017
Lars ThinggaardBoard member07/07/201409/03/2015
Lars LarsenBoard member03/12/201423/03/2017
Søren Eschricht JensenDeputy board member01/07/201516/03/2016
Lars LarsenChair of the board24/03/201701/08/2019
Henrik Friborg JacobsenBoard member24/03/201719/04/2022
John Sergio BlemDeputy chair24/03/201705/04/2021
Lars LarsenDirector01/08/201913/04/2020
Lars ThinggaardCEO01/08/201914/04/2020
Kenneth Hune PetersenChair of the board01/08/201906/04/2021
Lars LarsenCEO14/04/202030/09/2020
Thomas JensenCEO01/10/202028/11/2025
Jeppe FrandsenDeputy chair06/04/202128/11/2025
Steen Strandskov AndersenBoard member29/10/202131/07/2023
Vibeke Krog OlsenBoard member29/10/202131/05/2025
Gustaf Pontus LöfbergBoard member19/04/202230/09/2024
Marieta Georgieva IvanovaBoard member31/07/202330/11/2023

Signing rule: Selskabet tegnes af bestyrelsesformanden i forening med 1 bestyrelsesmedlem eller 1 direktør, eller af 2 direktører i fællesskab, eller af alle bestyrelsesmedlemmer i forening

Address and production units

1 active production units

Banemarksvej 50
2605 Brøndby

Brøndby Municipality · Postcode 2605

Open in OpenStreetMap
Production units
Production unitAddressEmployeesP number
MILESTONE SYSTEMS A/SBanemarksvej 50, 2605 Brøndby5221004429564

Purpose

Selskabets formål er at drive IT-virksomhed med det primære formål at udvikle softwareprogrammer, handel og service vedrørende software og hardware samt drive konsulentvirksomhed indenfor IT-branchen samt hermed beslægtet virksomhed.

The purpose is quoted from the register in Danish.

Changes year by year

113 registered events
20261 changeaccounts 1
  • Annual report for 2025 published
20258 changesmanagement 6 · merger 1 · accounts 1
  • Jeppe Frandsen appointed ceo
  • Seymour Erwin Liebman appointed deputy chair
  • Jeppe Frandsen stepped down as deputy chair
  • Thomas Jensen stepped down as ceo
  • Merger registered in CVR
  • Muhammad Kamran Shafique appointed board member
  • Vibeke Krog Olsen stepped down as board member
  • Annual report for 2024 published
20248 changesmanagement 3 · capital 4 · accounts 1
  • Minoru Asada appointed board member
  • Gustaf Pontus Löfberg stepped down as board member
  • Share capital changed from 1,842,837 DKK to 2,480,342 DKK
  • Annual report for 2023 published
  • Monika Adele Germanaviciute appointed board member
  • Share capital changed from 1,072,999 DKK to 1,842,837 DKK
  • Share capital changed from 958,008 DKK to 1,072,999 DKK
  • Share capital changed from 692,644 DKK to 958,008 DKK
20234 changesmanagement 3 · accounts 1
  • Marieta Georgieva Ivanova stepped down as board member
  • Marieta Georgieva Ivanova appointed board member
  • Steen Strandskov Andersen stepped down as board member
  • Annual report for 2022 published
20223 changesaccounts 1 · management 2
  • Annual report for 2021 published
  • Gustaf Pontus Löfberg appointed board member
  • Henrik Friborg Jacobsen stepped down as board member
202111 changesmanagement 7 · ownership 2 · merger 1 · accounts 1
  • Steen Strandskov Andersen appointed board member
  • Vibeke Krog Olsen appointed board member
  • Canon Inc. registered as owner (100%)
  • MILESTONE GROUP A/S is no longer registered as owner
  • Merger registered in CVR
  • Annual report for 2020 published
  • John Sergio Blem appointed board member
  • Jeppe Frandsen appointed deputy chair
  • Lau Normann appointed chair of the board
  • Kenneth Hune Petersen stepped down as chair of the board
  • John Sergio Blem stepped down as deputy chair
20206 changesmanagement 6
  • Thomas Jensen appointed ceo
  • Lars Larsen appointed director
  • Lars Larsen stepped down as ceo
  • Lars Larsen appointed ceo
  • Lars Thinggaard stepped down as ceo
  • Lars Larsen stepped down as director
20195 changesmanagement 5
  • Lars Thinggaard appointed ceo
  • Kenneth Hune Petersen appointed chair of the board
  • Lars Larsen appointed director
  • Lars Larsen stepped down as chair of the board
  • Lars Thinggaard stepped down as director
20176 changesmanagement 6
  • Lars Larsen appointed chair of the board
  • John Sergio Blem appointed deputy chair
  • Henrik Friborg Jacobsen appointed board member
  • Lars Larsen stepped down as board member
  • John Sergio Blem stepped down as chair of the board
  • Henrik Friborg Jacobsen stepped down as deputy chair
20164 changesmanagement 4
  • Søren Eschricht Jensen stepped down as deputy board member
  • Peter Jacobsen Mansfeldt stepped down as board member
  • Hans Jørgen Skovgaard stepped down as deputy board member
  • Artur Gevorkovic Magaljan stepped down as board member
20153 changesmanagement 3
  • Søren Eschricht Jensen appointed deputy board member
  • Peter Jacob Rosengren Sørensen stepped down as deputy board member
  • Lars Thinggaard stepped down as board member
20146 changesmanagement 5 · ownership 1
  • Lars Larsen appointed board member
  • Lars Thinggaard appointed board member
  • Giuseppe Zocco stepped down as board member
  • MILESTONE GROUP A/S registered as owner (100%)
  • John Sergio Blem appointed chair of the board
  • Jesper Balser stepped down as chair of the board
20131 changecapital 1
  • Share capital changed from 692,500 DKK to 692,644 DKK
20127 changesmanagement 7
  • Peter Jacobsen Mansfeldt appointed board member
  • Hans Jørgen Skovgaard appointed deputy board member
  • Artur Gevorkovic Magaljan appointed board member
  • Peter Jacob Rosengren Sørensen appointed deputy board member
  • Jens Bo Berthelsen stepped down as board member
  • Per Søbye stepped down as deputy board member
  • Lau Normann stepped down as board member
20111 changecapital 1
  • Share capital changed from 645,000 DKK to 692,500 DKK
20102 changesmanagement 2
  • Jesper Balser appointed chair of the board
  • Ole Stangegaard stepped down as chair of the board
20089 changesmanagement 7 · capital 1 · industry 1
  • Jens Bo Berthelsen appointed board member
  • Kim Macallan stepped down as board member
  • Share capital changed from 555,000 DKK to 645,000 DKK
  • Giuseppe Zocco appointed board member
  • Lars Bo Ive stepped down as board member
  • Lars Bo Ive appointed board member
  • Per Søbye appointed deputy board member
  • Kim Macallan appointed board member
  • Industry changed to Other software publishing (582900)
20072 changescapital 1 · management 1
  • Share capital changed from 551,000 DKK to 555,000 DKK
  • Allan Axel Eimert stepped down as board member
20062 changescapital 2
  • Share capital changed from 541,000 DKK to 551,000 DKK
  • Share capital changed from 569,500 DKK to 541,000 DKK
20052 changesmanagement 1 · capital 1
  • Allan Axel Eimert appointed board member
  • Share capital changed from 519,500 DKK to 569,500 DKK
20035 changescapital 1 · industry 1 · management 3
  • Share capital changed from 510,000 DKK to 519,500 DKK
  • Industry changed to Udvikling af standardsoftware (722100)
  • Lars Thinggaard appointed director
  • Henrik Friborg Jacobsen stepped down as director
  • John Sergio Blem stepped down as director
20021 changecapital 1
  • Share capital changed from 500,000 DKK to 510,000 DKK
20013 changesmanagement 3
  • Ole Stangegaard appointed chair of the board
  • Michael Brogaard Munkemose stepped down as board member
  • Paolo Blem stepped down as board member
20007 changesname 1 · capital 1 · management 4 · address 1
  • Name changed from MILESTONE SYSTEMS ApS to MILESTONE SYSTEMS A/S
  • Share capital changed from 125,000 DKK to 500,000 DKK
  • Lau Normann appointed board member
  • Michael Brogaard Munkemose appointed board member
  • Paolo Blem appointed board member
  • Henrik Friborg Jacobsen appointed deputy chair
  • Moved to Banemarksvej 50, 2605 Brøndby
19976 changesname 1 · management 4 · founded 1
  • Name changed from SCSK 2108 ApS to MILESTONE SYSTEMS ApS
  • Henrik Friborg Jacobsen appointed director
  • John Sergio Blem appointed director
  • Steen Schierbeck stepped down as director
  • Registered as SCSK 2108 ApS
  • Steen Schierbeck appointed director

Related companies

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Same people in management

Largest in the industry

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Source and updates

The information comes from the Danish Central Business Register (Danish Business Authority) and from annual reports filed with the Danish Business Authority. Last synchronised 23/10/2026.

View in CVRReport a correction