For the first time in ten years, Agito has delivered a profit for twelve consecutive months

“Already in August, we had booked 110 percent of the budget for 2023,” says CEO Knut Erik Myren.

Agito is performing exceptionally well these days, smiles CEO Knut Erik Myren.

For the first time in ten years, they have consistently achieved a substantial profit for twelve consecutive months.
“It’s very exciting that things are going so well, and the outlook for the future looks very promising too,” Knut Erik explains.

Turning deficits into profits: Agito’s remarkable turnaround

After some challenging periods of losses, Myren and the rest of the Agito team took action. In a short period, they turned a deficit into a significant profit.

Myren describes the recipe for success as twofold.
“We have executed more projects in the past year than we have in many years. We have experienced an increased workload from existing customers while also gaining new and exciting project clients. Concequently, we have conducted many analyses that are very valuable to our customers. Furthermore, we have made changes to Agito’s organizational structure, yielding the desired results.”

By the end of August, Agito had already booked 110 percent of the 2023 budget, a remarkable achievement.

Unique dual role: Service provider and software distributor

“We have observed that when our contacts at clients change employers and move to other companies, they actively recommend our services to their new employers. As a result, these new companies often choose to use our services, which we find very gratifying.”

Agito is unique globally as a service provider and as distributors of the Simulation X software, specialized for underwater oil and gas production systems.
“What makes Agito unique is that we are also distributors of the software we use for analyses. We can both sell and lease the software,” Myren explains.

Agito has customers in many countries, including the UK, Norway, the USA, and Brazil.

“One of our major clients now is Aker Solutions. We are proud to have reached this point, and our strong reputation in the subsea industry means that we receive assignments, almost exclusively based on well-established and good connections within the industry. We don’t need to actively search for projects or aggressively market ourselves; clients come to us through industry acquaintances.”