Opportunities for growth for Swedish technology company

Swedish technology companies have been hit hard by the economic climate. But the markets are about to stabilise for a sector playing a crucial role in the Swedish economy. There are now signs of a new growth period according to research made by consulting firm Deloitte.

Sweden Technology Fast 50 is an annually recurring ranking of all established Swedish technology companies. There is also an additional category called "Rising Stars", reserved for companies with a relatively short time in business, rapid growth and the potential of becoming the FAST 50 of tomorrow.

This year's first place among the Fast 50 goes to Entraction holding AB in Stockholm with revenues of 346 million and a growth rate of 4 204 percent over a five year period. Second place goes to Transmode holding AB in Stockholm, with revenues of 607 million and a growth of 3 368 percent over a five-year period. Third place goes to the MIP Technologies AB in Lund. MIP Technologies AB made it onto the Fast 50 for the first time.

This year's technology firms had a lower average growth compared with the companies ranking on last year's list, 1 355 % and 1 628 % respectively. The market slowdown is evident when comparing the ranked companies' turnover in the last year of the five-year measurement period. This year's ranking companies had an average turnover of 140 million kronor. In 2007, the figure was 151 million. At the same time, the average turnover in 2008 was lower compared to that of 2007 when looking at the Rising stars: a drop from 23 million to 14 million kronor. Rising Stars companies have had difficulty maintaining a strong growth on a generally weak market. Only two of the companies on this year's list were found in last year's ranking. - In spite of this we see distinct opportunities for growth for individual companies, even in a weak market. There are hopes of a generally improved market. Now the technology companies need to prepare to move themselves and an integral part of the Swedish economy forward, says Tommy mårtensson, partner at Deloitte.