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 8,500 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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New leader of EVRY Sweden6.12.2018 11:59 | 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.
DNB and EVRY adopt artificial intelligence to stop fraud27.11.2018 07:51 | Pressemelding
(Oslo, 27 November 2018) DNB has renewed its agreement with EVRY for card fraud prevention solutions. As the solutions work in real time, fraudulent transactions can be stopped before they are completed. Adopting artificial intelligence and machine learning will make the hunt for fraud even more sophisticated and accurate.
EVRY enters into a new partnership with Bankgirot23.11.2018 15:32 | Pressemelding
(Oslo, 23 November 2018) Bankgirot’s new collaboration with EVRY consists of Bankgirot outsourcing its IT operations. The partnership will enable Bankgirot to adopt a more dynamic delivery organisation and will modernise its technical infrastructure.
Per Hove is appointed new CEO of EVRY19.11.2018 08:03 | Pressemelding
Per Hove (52) has been the head of EVRY Norway since June 2018. He is taking over as Group CEO from Björn Ivroth with immediate effect.
More innovation and better services for digital employees at SpareBank 112.11.2018 10:30 | Pressemelding
(Oslo, 12 November 2018) The SpareBank 1 Alliance’s new collaboration with EVRY in relation to digital workplace services is intended to enable more innovation and to provide better services for employees. Under the new four-year agreement, EVRY will provide server and client operations services, and it includes options for the banks in the Alliance to access services such as contingency solutions and public and private cloud services.
Monobank launches Google Pay in collaboration with EVRY1.11.2018 17:21 | Pressemelding
(Oslo, 31 October 2018) Monobank has become one of the first banks in the Nordic region to introduce Google’s mobile payment solution for its customers. EVRY has enabled use of Google’s mobile payment solution by digitising customers’ bank cards on their mobile phones.
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