— Significant Customer Cost Reductions
A new Safebase tradition has emerged, outlining a summary of the preceding year complimented with our thoughts on the year about to unfold. As we summarize 2023, our tenth year of operation, we are looking back at a year characterized by new employees and substantial growth in both the energy- and telecom industries. For 2024, we aim to expand the application portfolio for our energy customers while acquiring additional collaboration leads in the telecom industry.
Summarizing the highlights from last year is surprisingly easy for CEO Lars Erik Gjervan. One achievement stands out:
— Our customers communicate that our applications provide helpful decision-making support, saving them time while supplying better insight into the grid. As a result, customers experience significant operation cost reductions. Receiving this feedback leaves us tremendously proud of what we have created.
Software on Trial
Improving the daily operation of our customers is the purpose of the SafeMon software. Last year we initiated R&D trials, running new issues for the software to read. Once we finish fine-tuning the response, we believe SafeMon can provide additional improvements to our customers’ operations.
— We look back at numerous project deliveries to grid companies, both in terms of software application and grid expertise, where the aim was to achieve better utilization and control of the grid. For example, Tensio used SafeMon to test whether batteries can replace grid expansions.
“Batteries” is undoubtedly a keyword when summarizing 2023.
During the current transition to electrify construction sites, Aneo Build supplies mobile battery containers which efficiently fast-charge construction machinery – without overloading the power grid. Together with Aneo, we have developed a tailor-made SafeMon software that provides them a complete overview of the battery park.
Additional read: Controlling several mobile chargers using one software >
Nucleus – SafeBase’s Software for AI and ML
The use of artificial intelligence and machine learning is a hot topic. development program “Nucleus” is our playground for testing artificial intelligence and machine learning and has been diligently applied during 2023.
Using “Nucleus”, we have developed our first commercial application that utilizes machine learning to uncover and identify the root causes of interference in radio network infrastructures. The new application is forecasted to launch during Q1 of 2024.
Investments in Customer Support
A high customer retention rate combined with an expanding customer portfolio resulted in additional investments in our support team. At SafeBase, we wish to offer opportunities for proactive operation while being at the forefront of our customers’ needs and challenges.
The investments left us with a separate operations department and a brand-new OPS room on our premises. The OPS room is a dedicated room for our team working exclusively and purposefully with proactive customer support.
Acknowledgments
In 2023 we also received the ISO27001 certification, which documents that we follow the best practices for assuring information security.
Additionally, we have expanded our collaboration with Norbit who are currently developing a dedicated production line for the SensorHub.
We also received recognition from Ernst & Young through a nomination for “EY Entrepreneur of the Year”, and Dagens Næringsliv who titled us a “Gaselle” firm for the second time in Safebase history (2018 and 2023).
— Receiving the financial report for 2023, the figures confirm that 2023 was a profitable year. The bottom line increased by more than 17% from 2022 to 2023. We can also pride ourselves with a top line of just over NOK 80 million and an EBITDA margin of 18%.
The 2024 Agenda
All of our customers from 2023 have chosen to continue working with us in 2024. Going forward we aim for two objectives: To expand the product portfolio offered to the energy sector, and to expand the customer base within the telecom sector.
— Additionally, we are considering other potential markets where our expertise in real-time data-driven decision support could provide customer value. No matter what the future brings, we are committed to our long-term strategy of developing products according to our customers’ needs, both in terms of software and hardware, concludes Gjervan.