The last 18 months has been a transitional period for artec, with the group repositioning itself as a provider of cloud-based data analysis systems. The new cloud platform is highly scalable and will enable artec to generate recurring revenues. While the group ran at a loss in H117, the cloud pipeline is growing and new cloud customers are expected to sign up in H2. The second stage of expansion is set to begin on a project in Qatar and the group has won a new MULTIEYE order with a betting company, which was driven by artec’s ability to provide access control, face recognition and data protection. Consequently, management expects sales and earnings to rebound strongly in H2.
