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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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.
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.
Karin Schreil is new Head of EVRY Sweden17.1.2019 10:00:00 CET | Pressemelding
(Stockholm 14. Jan, 2019) Karin Schreil (48) is appointed Executive Vice President of EVRY Sweden. She will start in her new position in May 2019.
EVRY has divested its D365 Microsoft Dynamics unit in Finland to eCraft4.1.2019 09:24:49 CET | Pressemelding
The Finnish IT consultancy firm eCraft has acquired EVRY Finland’s D365 Microsoft Dynamics business unit.
Handelsbanken in Finland and EVRY enter into a strategic agreement13.12.2018 06:52:12 CET | Pressemelding
(Oslo, 13 December 2018) Handelsbanken in Finland and EVRY have entered into an agreement for the delivery of next-generation core banking and payment solutions. The agreement represents a total contract value of approximately NOK 650 million and runs for a period of eight years. This is an important step for EVRY in the Finnish market as well as in relation to its strategy of continuing to grow its presence in the Nordic and international markets.
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