Arviem continues its revenue growth with the fourth quarter in a row into 2Q 2023 with a 41% increase compared to 2Q 2022. The establishment of the US-based Arviem Inc will provide the company with further momentum.
Founded in 2008 and headquartered in Baar Arviem has grown organically to become the leading service provider for real-time cargo monitoring services. The company reports strong growth quarter over quarter. Arviem has increased its revenues by 38% in 1Q 2023 compared to 1Q 2022. And with 41% the growth rate was even higher in 2Q 2023. In addition, one of Arviem’s main clients, a global FMCG company, has expanded the scope of its 3 years contract with an increase by 50% from the latest contract signed in 1Q 2023. Furthermore, Arviem has signed four business partnership agreements.
A new affiliate in the USA will boost the growth further. In March Arviem AG has incorporated US Arviem Inc company and the former senior Arviem USA Director has become the company’s Managing Director for North & South America. Furthermore, Arviem recruited two new staff in the USA. The Arviem USA company and Arviem USA staff will boost the awareness and branding of Arviem with clients in North and South America. The USA company will also enable Arviem to optimize the logistics flow of existing and new devices between the USA, Germany and China with sizeable logistics cost savings.
(Press release / SK)
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