Continuing organic growth, stable margins and strong improvement in cash performance
(Fornebu, 8 May 2019) The EVRY Group reported total revenue of NOK 3 330 million in the first quarter of 2019, an improvement from NOK 3 208 million in the first quarter of 2018. This represented an organic growth of 3.6% in the first quarter of 2019 up from 0.5% compared to the same quarter last year.
The company delivered EBITA of NOK 332 million in the first quarter, up from NOK 320 million in the first quarter last year. The EBITA margin of 10.0% in the first quarter of 2019 was in line with the corresponding quarter of 2018.
CEO Per Hove, comments:
- I am pleased to announce that we are delivering a quarter that is in line with our internal objectives and trading according to our full year plan. I am particular pleased with the increased organic growth in the first quarter combined with stable margins and a significant improved cash conversion
LTM cash conversion as of 31 March 2019 ended at 97.0% compared to 70.3% as of LTM 31 March 2018, which reflects a solid improvement.
Financial Services continues to achieve positive revenue growth, building on the strong momentum of previous quarters, driven by a solid demand for solutions and services.
The Group’s backlog of NOK 18.6 billion at the end of March 2019 was up from NOK 17.8 billion compared to the same period last year.
Multiple opportunities for Artificial Intelligence in public sector
EVRY signed the biggest public tender contract so far in Norway within Robotics technology with the Municipality of Stavanger in the first quarter of 2019.
In the same quarter, EVRY entered into a partnership with “AI Innovation of Sweden” as one of the founding partners to the benefits for both its employees and customers.
EVRY has also delivered an automation program to the administration of the Research Council of Norway that utilizes Artificial Intelligence - natural language processing to assist case workers to process thousands of applications for funding.
- I am happy to see that we are taking a position as the leading actor of robotics technology as-a-service. We are managing everything from local installation at the customer to the managing and handling of all Robotics Process Automation solutions on the behalf of the customer, says CEO Per Hove.
A Nordic consulting organisation
EVRY’s customers are changing and carry out more complex projects. Consequently, EVRY has announced a Nordic consulting organisation focusing on simplifying the way it operates through increased transparency and collaboration across countries. This mean a shift towards working in teams to solve customer challenges and a more structured way of developing competence for consultants across the Nordics.
- Total revenue of NOK 3 330 million in Q1 2019 (NOK 3 208 million in Q1 2018)
- Organic growth* of 3.6% in Q1 2019 (0.5% in Q1 2018)
- EBITA** in Q1 2019 of NOK 332 million (NOK 320 million in Q1 2018), representing an EBITA** margin of 10.0% in Q1 2019, in line with Q1 2018
- Increased cash conversion in Q1 2019 of 97.0%, up from 70.3% in Q1 2018
- Backlog of NOK 18.6 billion as of 31 March 2019 compared to NOK 17.8 billion in Q1 2018
- EPS** in Q1 2019 of NOK 0.50 compared to NOK 0.53 in Q1 2018
*) Organic growth is defined as revenue adjusted for impacts from acquisitions, divestment and foreign currency effects
**) Before other income and expenses
The quarterly report and presentation material can be downloaded at: https://investor.evry.com/
For further information, please contact:
Helle Wiggen, Investor Relations Manager
Tel: (+47) 93823402 - email: firstname.lastname@example.org
Unni Strømstad, EVP Communications and Marketing
Tel: (+47) 97753453 - email: email@example.com
EVRY is a leading Nordic tech and consulting company. Together with our customers and an ecosystem of the best global digital experts, we shape the future today by applying new technologies to improve end user experiences, and the performance of people, processes and systems.
We are close to our customers and represent a Nordic mindset on responsibility, quality and security.
We leverage our Nordicness to do business in more than 18 countries. EVRY is listed on Oslo Stock Exchange under the ticket code EVRY. Our 8 800 employees are passionate about creating digital advantage and shaping the future – today.
EVRY reported turnover of NOK 12.9 billion in 2018 and the company's headquarters are located at Fornebu just outside Oslo.
This information is subject to disclosure under the Norwegian Securities Act section §5-12
Om EVRY ASA
EVRY is one of the leading IT services and software providers in the Nordic region and has more than 10,000 customers across the private and public sectors. Every day more than five million people in the Nordic region use solutions delivered by EVRY. Through its strong local presence and in-depth technological and commercial insight, EVRY is a driving force for innovation and modernisation at its customers. EVRY reported turnover of NOK 12.6 billion in 2017 and has 8,800 employees across nine countries. Its headquarters are located at Fornebu just outside Oslo, and the company is listed on Oslo stock exchange. www.evry.com.
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Finland’s Savings Banks Group selects EVRY for card production for five more years23.5.2019 08:49:05 CEST | Pressemelding
(Oslo, 23 May 2019) Finland’s Savings Banks Group has chosen to extend its existing agreement with EVRY for five years. The agreement includes debit and credit card production as well as associated services.
Christian Pedersen is new Head of Nordic Consulting22.5.2019 09:00:00 CEST | Pressemelding
(Oslo 22.05.2019) Christian Pedersen has been appointed Executive Vice President (EVP) for BA Norway and Head of Nordic Consulting.
EVRY enters into a Nordic agreement with Bank Norwegian for card and mobile services8.4.2019 09:24:47 CEST | Pressemelding
(Oslo, 8 April 2019) EVRY is expanding its collaboration with Bank Norwegian and entering into a five-year agreement for card-related services. The agreement that has been signed includes services in the areas of transaction and processing and dispute management.
Johan Torstensson is leaving Ericsson – and becoming the Executive Vice President for DPS at EVRY21.3.2019 12:01:40 CET | Pressemelding
Johan Torstensson has been appointed as the Executive Vice President for Digital Platform Services (DPS) at EVRY. He is leaving his role as CIO of Ericsson, where he has worked since 2010. His other previous senior roles include Global Delivery Executive at Hewlett-Packard and Senior Advisor at Technology Partner International.
Strong Net Profit and Free Cash Flow combined with significant increase in Backlog8.2.2019 06:59:34 CET | Pressemelding
(Fornebu, 8 February 2019): The EVRY Group reported total revenue for the fourth quarter of 2018 of NOK 3 413 million, equal to an organic growth of 0.4%. For the full year 2018 EVRY delivered an organic growth of 3.0%, equal to a total revenue of NOK 12 912 million, compared to NOK 12 596 million in 2017. The adjusted EBITA for the fourth quarter was NOK 475 million (13.9%), compared to NOK 495 million (14.5%) in the fourth quarter of 2017. The adjusted EBITA margin for the full year 2018 ended in line with the guidance at 12.3% (NOK 1 582 million), compared to 12.5% (NOK 1 569 million) in 2017.
EVRY making everyday life more efficient for the Norwegian Tax Administration’s 6,500 employees28.1.2019 09:12:52 CET | Pressemelding
EVRY has entered into an agreement to provide the Norwegian Tax Administration with services related to server and client operations. The goal is to increase the efficiency of administrative tasks and to ensure that the Administration’s 6,500 employees have the best digital tools available.
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