Plint has, in just five years, increased sales from 11m to an incredible 236m (SEK), a growth rate of over 2000%. The newly released year-end financial statements for 2019 are yet another show of strength. Moreover, despite the global Corona crisis, the first quarter of 2020 was also stronger than expected. “Within 2-3 years, we expect to turn over half a billion,” says Örjan Serner, CEO of Plint.
In the midst of the global corona crisis, there are two media companies that are expanding rapidly and under high profitability. One is American streaming giant Netflix and the other is Swedish Plint, which is one of Netflix’s strategic partners for language localisation of films and TV series.
When large parts of the world have been hit by the Corona virus since January, the demand for streamed home entertainment has led to millions of new subscribers, and thus even more work for project managers and translators at Plint in Gothenburg and Borås. Both sales and profits hit new records in 2019, the recent financial statements show, with 2020 also starting better than expected.
With key customer Netflix recently reporting that it received almost 16 million new subscribers in the first quarter of 2020, the company’s customer base grew particularly strong in the Middle East, Latin America, East Asia and Australia. This requires language versions in Arabic, Spanish and Chinese, among others.
“Netflix puts a lot of work our way. During the first quarter of this year, Plint’s sales increased by almost 75 per cent compared to the same period in 2019,” says Örjan Serner.
In 2018, Plint was the fastest growing language company in the world in its special niche (so-called language service providers, LSP). Over the past three years, the company has grown at an average of 132 per cent a year. Last autumn, Plint qualified as one of the hottest smaller companies in Sweden on Dagens Industri’s ranking of so-called “Gasell companies”.