Strong Net Profit and Free Cash Flow combined with significant increase in Backlog
(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.
Application services has been the main growth driver in 2018, but EVRY also experience very positive momentum within the consultancy business. The demand for digital consultancy services is high, and the fourth quarter of 2018 proof the position of EVRY in the Nordic market, where several consulting projects within emerging technologies and digital growth areas has been initiated and completed.
Financial Services is the business area with the strongest performance both during the quarter and for the full year, where it continues to extend scope on the existing customer base, as well as the service delivery has expanded internationally. The fourth quarter of 2018 was the breakthrough for EVRY’s Financial Services business in Finland, through the new strategic agreement with Handelsbanken for delivery of core banking and payment solutions in Finland.
− What we have achieved in 2018 is a solid step in the right direction. We have had an exciting year, with growth outside of the Nordics in the financial market and a breakthrough in Finland, CEO Per Hove says.
The order intake during the fourth quarter of 2018 has been a significant, and the backlog which ended at NOK 19.4 billion as of December 2018 has been improved by NOK 1.6bn from September 2018. This is a result of some major contracts that have been signed, but also high intake of a balanced mix of multiple smaller and medium sized contracts and projects.
In 2018 EVRY delivered a total Net profit of NOK 640 million, an increase of NOK 901 million from 2017. This in combination with a full year 2018 Free cash flow of NOK 997 million (plus 9.2% compared to NOK 913 million in 2017), has resulted in a proposal from the board of directors to the AGM of paying a dividend of NOK 1.75 per share based on the 2018 financial performance.
- Total revenue of NOK 3 413 million in Q4 2018, in line with Q4 2017. Organic growth** of 0.4% in Q4 2018 (3.7% in Q4 2017)
- Total revenue of NOK 12 912 million in 2018 (NOK 12 596 million in 2017) resulting in an organic growth of 3.0% in 2018 (2.4% in 2017)
- EBITA* in Q4 2018 of NOK 475 million (NOK 495 million in 2017), representing an EBITA* margin of 13.9% in 2018 (14.5% in 2017)
- EBITA* in 2018 of NOK 1 582 million (NOK 1 569 million in 2017), representing an EBITA* margin of 12.3% in 2018 (12.5% in 2017)
- Net profit of NOK 640 million in 2018, an increase of NOK 901 million from 2017
- Free cash flow in 2018 of NOK 997 million, up 9.2% from NOK 913 million in 2017
- Backlog of NOK 19.4 billion as of 31 December 2018, increased by NOK 1.4 billion from NOK 18.0 billion as of 31 December 2017
- EPS* in 2018 of NOK 2.89 compared to NOK 2.82 in 2017
- Other income and expenses down to NOK 545 million in 2018 (excluding provisions to former CEO) from NOK 1 215 million in 2017 in line with guidance
- Board of Directors proposes dividend of NOK 1.75 per share, equal to 61% of Adjusted Net Profit
*) Before Other income and expenses
**) Organic growth is defined as revenue adjusted for impacts from acquisitions, divestment and foreign currency effects
The quarterly report and presentation material can be downloaded at https://investor.evry.com/
For further information, please contact:
Frank Stangnes, Head of Group Treasury and Investor Relations
Tel: (+47) 47453275 - email: email@example.com
Unni Strømstad, EVP Communications and Marketing
Tel: (+47) 97753453 - email: firstname.lastname@example.org
Unni StrømstadEVP Communications and Marketing+47 977 53 email@example.com
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 12.9 billion in 2018 and has around 8 800 employees across nine countries. Its headquarter is located at Fornebu just outside Oslo, and the company is listed on Oslo stock exchange.
This information is subject to disclosure under the Norwegian Securities Act section §5-12
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Interim CFO in EVRY ASA15.7.2019 16:10:00 CEST | Press release
Nina Mortensen (43) is appointed Interim Chief Financial Officer in EVRY ASA from 1th of October 2019. She succeeds Henrik Schibler who resigned earlier this year and will leave his position as CFO of EVRY by the end of September.
EVRY reports a second quarter of 2019 with growth in consulting services and application services that drives a favourable revenue mix and supports the strategic direction12.7.2019 07:04:08 CEST | Pressemelding
(12 July 2019, Fornebu) EVRY reports operating revenue of NOK 3 178 million for the second quarter of 2019 as compared to NOK 3 286 million in the second quarter of 2018. Operating revenue for the first six months of 2019 was NOK 6 507 million up from NOK 6 494 million compared to the same period last year. Adjusted for currency impact and acquisitions, the organic growth was 0.1% in the first six months of 2019 relative to the first six months of 2018. Financial Services reported positive organic growth in the second quarter, while the other areas were affected by seasonality.
EVRY’s debt register now launched!27.6.2019 21:00:37 CEST | Press release
The waiting is over as EVRY’s debt register is being launched today. The debt register gives financial companies a new tool for quickly and efficiently assessing potential borrowers’ credit worthiness and for viewing all the unsecured debt they may have. Consumers will also be able to check the amount of consumer debt they have via the debt register’s website, gjeldsregisteret.com, making it easier for them to have an overview of their own financial situation.
EVRY and Tieto joining forces to create a leading Nordic digital services company18.6.2019 07:16:50 CEST | Press release
(Fornebu/ Espoo, 18 June 2019) EVRY and Tieto have today announced a merger agreement to create the most competitive digital services and software company in the Nordics. With combined revenue of close to EUR 3 billion and 24 000 professionals, the combined company will be well-positioned to create digital advantage for Nordic enterprises and society. The transaction will be highly complementary from a geographical, offering and customer perspective. The combined company will be named TietoEVRY and it will serve thousands of enterprise and public sector customers in more than 90 countries.
EVRY and Cybereason Partner to Deliver Next Generation Cybersecurity31.5.2019 11:04:31 CEST | Pressemelding
EVRY and Cybereason today announced a strategic partnership to extend EVRY’s security offerings to its customers. The partnership is built around EVRY’s and Cybereason`s goal to embed cybersecurity as a core function to support todays’ evolving business landscape, and joint commitment to enable defenders in the new digital age.
Finland’s Savings Banks Group selects EVRY for card production for five more years23.5.2019 08:49:05 CEST | Press release
(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.
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