Strong organic growth and significant increased order backlog
(Fornebu, 16 July 2018) EVRY reports operating revenue for the second quarter of 2018 of NOK 3,286 million as compared to NOK 3,089 million in the second quarter of 2017. After adjusting for currency effects and acquisitions, EVRY achieved organic growth of 7.5% in the second quarter of 2018. All business areas reported organic growth in the period.
“EVRY closed some substantial and strategically important contracts during the quarter in all its business areas. This has strengthened both our order backlog and our position as a digital software and service provider across many of our customer segments”, comments Björn Ivroth, CEO of EVRY.
Reported EBITA1 in the second quarter of 2018 was NOK 374 million, compared to NOK 321 million in the second quarter of 2017. The EBITA margin was improved by one percentage point compared to the second quarter of 2017 and ended at 11.4%.
EVRY had an order backlog of NOK 18.8 billion at the end of June 2018, an increase of NOK 1.0 billion from NOK 17.8 billion at the end of March 2018.
Capturing the growth in consulting
EVRY is one of the largest consultancy companies in the Nordics with more than 2,000 direct billable consultants in 33 locations.
In 2017, around 600 new employees were hired by EVRY within new areas of expertise such as blockchain, artificial intelligence, augmented reality, robotization, machine learning and the Internet of Things. These new employees represented a balanced mix of consultants and technology specialists. In the year to the end of June, around 370 new employees joined EVRY.
“One of our key focus areas is to build expertise in our organisation by being an attractive employer. We are very proud to be one of the most attractive employers for IT students in the Nordics. On the Universum survey for 2018, EVRY was ranked seven places higher than in 2017, making it the eleventh most attractive technology company to work for in our region”, concludes Björn Ivroth.
The CEO of EVRY, Björn Ivroth has informed the Board of Directors of his plans of retirement.
- Approaching my 60th anniversary I wanted to inform the company of my intention to retire. This will give the company ample time in the next several months to select my successor. Until then I will have full focus on implementing our strategy and continuing the transformation of EVRY, says Björn Ivroth.
Following Björn Ivroth’s announcement the company will initiate the search for a new CEO and assess internal as well as external candidates.
Financial key figures for the second quarter of 2018
- Total revenue of NOK 3,286 million in Q2 2018, compared to NOK 3,089 million in Q2 2017, equivalent to organic growth of 7.5% in Q2 2018.
- Total revenue of NOK 6,494 million in H1 2018 as compared to NOK 6,266 million in H1 2017, equivalent to organic growth of 3.9% in H1 2018.
- EBITDA1 of NOK 429 million in Q2 2018, compared to NOK 384 million in Q2 2017, representing an EBITDA1 margin of 13.0% in Q2 2018. EBITDA for H1 2018 was NOK 802 million (NOK 792 million in H1 2017).
- EBITA1 of NOK 374 million in Q2 2018, an increase of 16.6% from NOK 321 million in Q2 2017, representing an EBITA margin of 11.4% in Q2 2018 (10.4% in Q2 2017). EBITA1 for H1 2018 was NOK 694 million (NOK 666 million in H1 2017).
- Last Twelve Months (LTM) Cash Conversion at 30 June 2018 of 78.3%, a decrease of 19.1 percentage points from LTM Cash Conversion at 30 June 2017.
- Order backlog of NOK 18.8 billion at 30 June 2018.
- EPS1 of NOK 0.56 in Q2 2018 and NOK 1.09 per share in H1 2018 (NOK 0.44 per share in Q2 2017 and NOK 0.90 per share in H1 2017).
1) Before Other income and expenses
For further information, please contact:
Frank Stangnes, Head of Group Treasury and Investor Relations
Tel: (+47) 47453275 - email: firstname.lastname@example.org
Unni Strømstad, EVP Communications and Marketing
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Om EVRY ASA
EVRY is one of the leading IT companies in the Nordic region and has a strong local and regional presence. Our employees have in-depth expertise and extensive experience, and we offer both local and global delivery models. We develop solutions that give our customers a digital advantage, modernise business processes, and make IT operating services more efficient. Through our insight, solutions and technology, we contribute to the development of the information society of the future, for the benefit of our customers and society as a whole.
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DNB extends its agreement with EVRY9.7.2018 11:43 | Pressemelding
(Oslo, 9 July 2018) DNB is extending its agreement with EVRY for mainframe operations services for the bank's core banking system and other important systems by one year. The agreement represents total contract value of NOK 350 million, and includes an option to extend for a further year.
Handelsbanken, BankAxept and EVRY launch contactless payment from micro bank cards in wristbands7.7.2018 10:40 | Pressemelding
(Oslo, 7 July 2018) Handelsbanken’s customers becomes the first in Norway to be able to pay contactlessly using a wristband thanks to entirely new micro format bank cards. “We think customers will use micro bank cards because they make it quicker and easier to pay than any other payment solution available today”, comments Anthony Brady, Manager for Cards at Handelsbanken.
EVRY and GSN in the Netherlands enter into a strategic ATM agreement4.7.2018 08:50 | Pressemelding
(Oslo, 4 July 2018) EVRY has reached a definitive agreement with Geldservice Nederland B.V (GSN), a company that is a joint venture of the three largest banks in the Netherlands. The ATM service agreement runs for five years and represents a contract value in excess of NOK 500 million.
EVRY granted authorisation to operate a debt register22.6.2018 14:06 | Pressemelding
EVRY has been granted authorisation by the Norwegian Ministry of Children and Equality to operate an information register for the purposes of collecting and distributing debt information from credit cards and other forms of unsecured consumer debt.
Changes in Executive Management Team in EVRY21.6.2018 10:55 | Pressemelding
EVRY is expanding EMT with three new members. The purpose of this is to continue to strengthen best practise and further increase the focus on Strategy, Sales Excellence and Legal across the company.
Gjensidige accelerates its digitalisation and enters into a new contract with EVRY18.6.2018 13:06 | Pressemelding
(Oslo, 8 June 2018) The Gjensidige Group has decided to enter into a new contract with EVRY as the company’s core supplier of technological solutions and digital services for the coming years. The parties have signed a letter of intent in which EVRY commits to providing Gjensidige with next-generation digital services, including private and public cloud solutions.
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