Allicon Reports 120% Revenue Growth in 2024 Despite Challenging Economic Climate
Allicon offers high-performance connectivity solutions and has strengthened all business areas over the past year. Photo: Jeanette Dahlström.
Stockholm, April 30, 2025. Allicon Group announced today that it has achieved exceptional growth for fiscal year 2024, with total revenue increasing by 120% to SEK 28.9 million across both established and emerging business segments, alongside significantly improved profitability.
Strong Performance Across All Business Areas
"We have created very positive development and strong growth across all parts of the business," said CEO Andreas Boo.
"Despite a challenging economic climate, we are generating strong growth in our core business, while also creating new revenue streams by further developing our digital platform PropView. We continue to attract new customers with our unique offering and have the privilege of being engaged in many new exciting projects."
The company, which delivers high-performance connectivity services focused on indoor environments based on fiber, 5G, and related digital services, has strengthened its position across all business areas during the past year.
Core Business Expansion
"In our core business, where we help property owners digitize their buildings, we have welcomed several new customers and implemented our solutions in some of the country’s most exciting properties. During the year, we also won a major procurement for Alecta Fastigheter in tough competition. We already count several of Sweden’s largest property owners among our customers, and we appreciate the high demands they place on us. We now deliver connectivity to thousands of businesses and continue to see very high customer satisfaction, while our MRR base continues to grow," says Andreas Boo.
5G Innovation and Healthcare Integration
The company has made significant strides in the 5G sector with both private networks and neutral network solutions.
"The European market for 5G is still somewhat cautious, but we are now seeing more and more actors beginning to understand the value that can be created, and inquiries are increasing. We see this trend in several segments, particularly in healthcare, which is very exciting — for example in Västra Götaland’s world-leading initiative VGR 5G, where we are engaged to design and establish 5G infrastructure in around 20 hospitals. The implementation will improve the experience for both patients and staff and at the same time strengthen society. We are proud to be making such a clear contribution to the project."
Strategic International Partnership
A major highlight of 2024 was the further development of Allicon's digital platform PropView. In collaboration with a leading American mobile operator, the company developed a module enabling rapid and scalable rollout of indoor 5G solutions.
"By combining our experience with indoor solutions and a proprietary AI solution, we have created a unique and world-leading capability that is now being rolled out to hundreds of users," said Boo.
"This development enables the establishment of a new software business for us, which we will continue to expand."
Subsidiary Performance
The Allicon Group's wholly-owned subsidiary, Fast Fiber Connection AB, which provides internet connections to property owners and tenants, has undergone successful restructuring during the period. This has resulted in strengthened underlying profitability and stable growth.
Outlook for 2025
Looking ahead, Boo expressed confidence in the company's trajectory:
"Over the past year, we have continued to see strong development in line with previous periods and have for some time now been clearly cash-flow positive. The fact that what we offer is relevant and delivers clear customer value gives us the energy to continue our work in building the connectivity solutions of the future for high-performing properties."
For more information about Allicon Group and its services, please contact andreas.boo@allicon.se.