sum.cumo presents excellent figures for the past fiscal year
“A new record being set in 2018”
According to the preliminary numbers, sum.cumo achieved the best results of its eight-year corporate history in the 2018 financial year. Sales almost doubled and profits rose significantly. Sales revenues rose to EUR 11.8 million from EUR 6.0 million in the previous year, corresponding to an increase of 96 percent. In addition, operating profit (EBIT) rose to the record level of EUR 648,000 (previous year: EUR 285,000), representing an increase of 127 percent, despite substantial investments in the two new offices in Düsseldorf and Hamburg as well as intensive recruiting. These goals were achieved with 114 digital enthusiasts (December 31, 2018; PY: 58), who were assisted in this rapid growth by resources including support from freelancers.
Strong growth through sum.cumo
Overall, customers in the insurance and lottery industry were able to generate sales of EUR 220.4 million in 2018 through the IT platforms created by sum.cumo, compared to EUR 130.2 million in the previous year.
From digital broker platform to attorney portal
Highlights in the past year included the first digital broker platform for motor vehicle insurance created for Rhion as well as the portal for lawyers set up for Switzerland’s Dextra. Another milestone was operational market launch of nexible in early 2018. In 2018, sum.cumo also nurtured the evolution of the digital lottery industry for customers, developing instant lottery modules and a new customer interface for its long-standing customer Toto-Lotto Niedersachsen.
Project pipeline also looking good for 2019
Björn Freter and Ingolf Putzbach, managing directors of sum.cumo, are more than satisfied: “As in previous years, sum.cumo was one of the primary drivers of digitalization in the insurance and lottery industries, with a new record again being set in 2018. The good results also allow us to look to the future with confidence and enable implementation of our ideas and further expansion of service offerings for our existing partners and new customers in 2019.”