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EVRY ASA continuing revenue growth and strong year-on-year margin improvements

(Fornebu, 1 November 2017) EVRY reported an increase in operating revenue and margins for the third quarter of 2017 compared to the same quarter last year. The company has experienced positive revenue growth across all business segments in the third quarter of 2017 and the margin enhancement is driven by an efficient business model and implementation of all strategic initiatives initiated over the last quarters.

 

EVRY delivered a total operating revenue of NOK 2,917 million for the third quarter of 2017, an increase organically of 2.6 % compared to third quarter of 2016. The increased revenue was the result of revenue growth across all business areas, with EVRY Sweden as the main driver.

The adjusted EBITA margin was 14.0% in the third quarter of 2017, compared to 12.1% in the third quarter of 2016.

“We are pleased to announce both revenue growth and higher margins in the third quarter of 2017 compared to the same quarter last year. This is the fifth consecutive quarter in which EVRY has achieved organic revenue growth”, says Bjørn Ivroth, CEO of EVRY
Demand for the services EVRY provide to the financial sector is increasing, and EVRY also see a growing demand and need for services related to digitalization and automatization within the public sector and healthcare.

“We are happy to see that both the larger banks and new market entrances within financial services choose EVRY as a vendor. We help our customers in all industries to implement next generation IT-solutions with the use of cognitive technologies for customer centers and other cross functional services. As of now we have a growing team of more than 60 dedicated employees working within the cognitive area”, continues Ivroth.

Financial key figures for third quarter of 2017

  • Total revenue of NOK 2,917 million in Q3 2017, compared to NOK 2,841 million in Q3 2016. After adjusting for exchange rate effects, this represents an organic growth of 2.6% (0.8% in Q3 2016).
  • Adjusted EBITA increased 18.7% to NOK 408 million in Q3 2017 (NOK 344 million in Q3 2016), representing an adjusted EBITA margin of 14.0% (12.1% in Q3 2016).
  • Last twelve months (LTM) cash conversion at 30 September 2017 ended at 84.1%, a decrease of 19.1 percentage points from LTM cash conversion at 30 September 2016.
  • Maintain a strong order backlog of NOK 17.9 billion at 30 September 2017

 

For investor enquiries:

Frank Stangnes, Head of Group Treasury and Investor Relations, +47 47453275

 

For media enquiries:

Unni Strømstad, EVP Communications and Marketing, + 47 97753453

 

Webcast of EVRY ASA Q3 report

Webcast of EVRY ASA Q3 report

See the webcast of the EVRY ASA Q3 report of 1 November 2017 here.

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