Gibotech Named "Success Company of 2020"

Through the "Successful Business" award, Spar Nord and BDO recognize the more than 1,000 companies that have consistently succeeded in generating growth and solid financial results over a number of years.

- It is with great pleasure that we hereby present you with the “Successful Business 2020” award. “The award and the statuette are visible proof that you possess the DNA needed to make a special contribution to growth, prosperity, and thus success in Danish business,” stated Spar Nord and BDO when the award was announced.

To be eligible for the award, successful companies must meet a number of criteria; in addition to the number of employees, the selection process is based on three key financial indicators: pre-tax profit, equity, and solvency.

– Even though the COVID-19 crisis is currently all-encompassing, it has not become any less important to recognize our high-growth companies. On the contrary. Our ambition with this award is not merely to give a pat on the back to the most successful companies. It is also to inspire the many companies that have untapped potential for growth, says Martin Kudsk Rasmussen, a member of Spar Nord’s Executive Board, in a press release.

BDO’s CEO, Stig Holst Hartwig, adds:

– In times of crisis, it is exceptionally important to hold on to opportunities and focus on the positive, so for us it is important to honor and recognize the successful companies that do not quite get the attention they deserve. Because they are the ones helping to ensure continued growth in the local and national economy. With “Successful Company 2020,” we want to honor the Danish companies that, even in the midst of the COVID-19 pandemic, are staying the course, he says, continuing:

– At both Spar Nord and BDO, we have a long-standing tradition of building long-term partnerships with small and medium-sized businesses, which is why we know that it takes something truly special to achieve and sustain success year after year.

Facts About the 2020 Success Company

In 2019, SparNord and BDO established “Succesvirksomhed,” a business award that recognizes Danish small and medium-sized enterprises with 10–999 employees. Eligible companies are selected based on the number of employees and evaluated according to their performance across the following criteria:

• Growth in pre-tax profit over the past five years
• Equity ratio (must be at least 15%) for the most recent fiscal year
• Increase in equity ratio over the past five years
• The ability to generate results with the available capital base

For each criterion, companies are awarded points based on how well they perform. It is the total number of points that determines whether a company will be included among the 1,000 successful companies.