And welcome to issue three of our Nordic newsletter! We have much to share this month. Firstly, PTC is off to a great start in FY 2017. In Q1, we executed very well across our key strategic and operational objectives. Bookings of $90 million were $10 million or 13% above the high end of the Q1 guidance range we provided last October. We had particularly strong IoT results, but also solid execution in our solutions business as well. On the subscription front, the 65% subscription mix for Q1 was well above our guidance of 55%.
Here in the Nordics, the IoT momentum continues. PTC customer SKF, Swedish world leading bearing and seal manufacture, are on track to build a smart, digital factory. Founded 110 years ago in Gothenburg, the company now has over 48,000 employees in 140 factories in 32 countries – indeed a global success. To maintain its strong global market position, SKF realised the need to be at the forefront of technology, having spent many years working to streamline and automate its business with PTC solutions. As we enter the fourth industrial revolution, we are proud to support SKF in achieving its next major step forward: "the smart, digital factory". We will feature more news on this project in forthcoming newsletters.
The 15th March should be a placeholder in your diary, Copperberg and PTC will be hosting a Connected Field Service webinar at 1400 CET. From this you will learn how smart connected products are enabling manufacturers to directly monitor performance, receiving early alerts and fixing problems remotely or dispatching field engineers to avoid downtime during mission criticall production. Also, Martin Gilday, Senior Vice President, Global Services at Swedish company Elekta has agreed to present and share Elekta’s strategic approach to capitalise on the IoT opportunities in the Medical device industry. If you haven’t already registered then I would urge you to. Register HERE.
In December, we welcomed Verdi Ogewell, Editor-in-Chief of Swedish magazine VerkstadsForum, to Boston to meet and interview our CEO, Jim Heppelmann. This engaging interview was published this month and, if you can spare the time, I recommend that you view it. Jim explains the implications of PTC’s business model transition and shares insight on the PTC strategy and further development of PTC’s IoT and PLM technologies. The video is supported by a very interesting interview with PTC customer, Airbus Please follow this LINK to the interview.
Lastly, as we expand and invest in the Nordic region, we are looking for a dynamic sales professional with success in selling manufacturing solutions to join our team as an IoT Manufacturing Sales Executive in Northern Europe. If this is your area of expertise, please get in touch. More information HERE.
I hope that you are finding our newsletter informative. Please reach out to our Communication Manager, Jacqui Cook at email@example.com, with any comments or ideas on what you would like to see featured.
Filip Stal, Director of Nordic sales at PTC