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: email@example.com
Unni Strømstad, EVP Communications and Marketing
Tel: (+47) 97753453 - email: firstname.lastname@example.org
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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Strong Net Profit and Free Cash Flow combined with significant increase in Backlog8.2.2019 06:59:34 | 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 | 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 | 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 | 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 | 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.
New leader of EVRY Sweden6.12.2018 11:59:00 | Pressemelding
EVRY Sweden has signed a new Executive Vice President (“EVP”) for Business Area Sweden. The name of the new EVP is planned to be announced during January 2019, and the start date will be at the latest in May 2019. The person is recruited externally and has substantial experience and background from the IT-industry in in the Nordics.
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