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EVRY - Fourth consecutive quarter with positive organic growth and strong margins YoY

The highlights for the second quarter of 2017 were:

  • Total revenue of NOK 3,089 million in Q2 2017, compared to NOK 3,108 million in Q2 2016. Adjusted for currency impact, the organic growth was 0.4% in Q2 2017 (3.4% in H1 2017).
  • Adjusted EBITDA of NOK 384 million in Q2 2017 (NOK 388 million in Q2 2016), representing an EBITDA margin of 12.4% (12.5% in Q2 2016).
  • Adjusted EBITA of NOK 321 million in Q2 2017 (NOK 318 million in Q2 2016), representing an EBITA margin of 10.4% (10.2% in Q2 2016). Increase in EBITA despite negative impact from significant lower working days in Q2 2017.
  • Last Twelve Months (LTM) Cash Conversion of 97.4% for June 2017, a decrease of 4.9 percentage points from LTM Cash Conversion June 2016.
  • Continued to implement strategic initiatives within Cloud and Cognitive Services, Strategic Design Lab and Infrastructure according to plan and supporting the margin.
  • Digital and Application services continued to grow while being supported by key wins thin Financial Services, EVRY Norway and EVRY Sweden.
  • Raised NOK 3,165 million in new equity at IPO and successfully completed the refinancing.
  • Continued to maintain a strong Backlog with NOK 18.5 billion as of 30 June 2017.
  • The 2017 target for Organic Growth, EBITA and Capex remains unchanged.

Comment from Björn Ivroth, Group CEO of EVRY ASA:
“We are pleased to announce our fourth consecutive quarter with organic growth. We have strengthened our position in several areas amongst them key customer wins in Sweden.
Even more importantly, EBITA continued to improve in the second quarter. As part of our journey we also continue to improve the efficiency of how we operate. We focus our resources on what creates customer value, and this has already had a positive impact. EVRY’s new sustainable business model of focusing more on digital services, verticalisation and global partnerships strengthen EVRY`s competitive position and has a foundation for continued profitable growth. The strategic partnerships give EVRY access to first-class technology solutions, and enable it to offer competitive cloud services and hybrid solutions to small, medium and large organisations. We continue to focus on our new cognitive initiative and it`s encouraging to see that we attract the best talent to drive this innovation”.

The complete quarterly report can be downloaded here:

The recording  of the presentation is available here.

This information is subject to the disclosure requirements pursuant to Section 5-12 of the Norwegian Securities Trading Act.