North East train Wi-Fi leader Nomad Digital has posted a 13% jump in sales after sealing significant contracts across the 海角视频, Europe, USA and Canada, despite the impacts of Covid-19.
The Newcastle-based business, set up 18 years ago, is the world’s leading provider of passenger and fleet connectivity systems to the railway industry, having seen huge growth since its inception.
Accounts published for the year to March 31, 2020 show the firm’s turnover rose from £26.148m to £29.553m, on the back of a number of contract wins.
Last year’s operating profit of £957,000, however, turned to a loss of £3.6m as it absorbed the costs of an acquisition.
The firm said the operating loss is not a reflection of Nomad Digital Group’s overall performance and includes one-off impacts of the group restructuring activities, which saw it acquire the trade and assets of 21Net Ltd, a fellow group undertaking, at its book value of £2.65m.
A geographical breakdown of turnover for the firm – which was snapped up by multinational transport giant Alstom in 2016 – showed 海角视频 sales dropped from £10.5m to £5.925m, but increased significantly in Europe, from £14.35m to £21.02m. Turnover also more than doubled in North America, from £1.23m to £2.6m.
Staff numbers also jumped from 119 to 129, taking up the wages bill to £8.8m from £8.66m.
The company forms part of Nomad Digital Group, which employs 289 people globally, 111 of whom live and work in the North East.
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Following the year end and the arrival of the coronavirus pandemic, the firm said it was seeing some delays but that its order book was holding strong.
In the accounts, the firm said: “Whilst the company is seeing some delay in new order receipts and a small amount of variable price reductions on existing contracts associated with Covid-19 factor, circa 75% of full year forecast revenue for the year ending March 31, 2021 is included within existing order backlog.
“Despite a reduction in ebitda (earnings before interest, taxes, depreciation and amortisation)...the board remains confident over the long term prospects for the company as it continues its development.”
After the accounts were published, Anthony Fowler, global finance director, said: “Nomad Digital Group is proud to be headquartered in the North East and its results support our continued research and development investment in the region.
“The business looks to grow further this year, supporting operators around the world to enhance fleet operational efficiency, passenger experience and to adapt to impacts of Covid-19.
“I am very proud of our team, who have quickly implemented and adapted to additional safe working practices and continued to deliver to our customers at this difficult time.”
Nomad Digital Group recently announced the appointment of Xavier Champaud as its new managing director. He joins the company from Alstom and has over 25 years’ experience in the rail industry, incorporating a wide range of roles, from project directorship to regional management.