Stockholm // 2005-10-17

PacketFront is one of Europe’s 500 fastest growing companies

PacketFront, the world leader in open access Fiber-To-The Home (FTTH) technology and next generation broadband aggregation , has announced that it has been listed No.241 among the fastest growing European companies included in the 2005 Europe's 500, the annual ranking of high growth, job creating companies published by Europe’s 500 Entrepreneurs for Growth, and supported by Microsoft and KPMG.

The 500 companies that qualified for Europe’s 500 in 2005 have all managed to sustain growth since the year 2001, boosting employment and sales at an average annual rate of 14%. Despite the challenging business environment, these companies have created more than 130,000 jobs across Europe in three years. On average, each company has created 86 new jobs per year and increased sales by 19.2 million euros per year.

PacketFront has been placed as the fifth highest Swedish company on the list – reflecting the company’s success as a world leader in next generation broadband technology and open access networks. PacketFront has grown significantly over the last year and expanded its operations globally – it now has offices in Boston, Oslo, Amsterdam, Tokyo and Seoul and is planning to open more in the near future. As a result, PacketFront’s annual employment growth rate is now up to 100% per year.

"We are delighted to have made the Europe’s 500 list,” said Martin Thunman, CEO PacketFront. "PacketFront is going from strength to strength and we are very pleased that this has been recognised. Our growth and success is highly reflective of the investment and dedication we place on developing our staff by rewarding innovation and creativity throughout the company. Our growth is on a steep upward climb and shows no sign of ending any time soon".

Mark Hopton of KPMG’s European Middle Market Group commented: “The Europe’s 500 listing tells us a lot about the way that Europe’s traditional old order is changing. The mature economies such as France, Germany, Italy and the UK still provide the majority of the companies in the 2005 ranking but other countries are now starting to make their presence felt to a greater extent. For example, Scandinavian visibility within the Europe’s 500 continues to grow.

On a more general note, the success of many of these leading companies is attributable to dynamic and creative leadership from individuals who display conviction, self-confidence and self-belief. They believe in their people and many of them provide excellent examples of how investment in your people now can pay a handsome dividend in the future.”

The Europe’s 500 listing identifies rapidly growing European companies for their employment creation and rapid growth PacketFront will be officially recognised and honoured for its remarkable business achievements and growth in employment at the Europe’s 500 Awards Dinner on 19 November in Barcelona, Spain.

About Europe’s 500
Europe's 500 was first published in 1996 and has been published on an annual basis ever since. During this time, more than 4.000 of Europe’s high growth companies have received the accolade of being one of Europe's 500 champions of growth.The listing is intended to focus attention on entrepreneurial achievement and fast-growth European companies. Its focus on job creation and growth in medium sized enterprises is unique and distinguishes it from other business rankings.

Related links:

The complete 2005 Europe’s 500 listing