EVRY reports a strong third quarter 2018 with 4 percent organic growth and solid earnings
30 October 2018
(Fornebu, 30 October 2018) EVRY reports operating revenue for the third quarter of 2018 of NOK 3 005 million as compared to NOK 2 917 million in the third quarter of 2017. After adjusting for currency effects and acquisitions, EVRY achieved organic growth of 4.0% in the third quarter of 2018.
Q3 2018 support the sustainability of the improved profitability through an EBITA* margin of 13.7% in the quarter (14.0% Q3 2017), resulting in an EBITA margin YTD 2018 of 11.7% (11.7% YTD 2017). Other income and expenses** have been reduced by NOK 102 million from Q3 2017 to Q3 2018 (reduced by NOK 355 million YTD 2018 vs. YTD 2017) and are trading according to the schedule for FY 2018.
EVRY maintain its targets for FY 2018, where revenues are expected to be in the upper end of the indicated guidance for FY 2018, while the EBITA* margin is expected in the range of 12.3% – 12.5%.
Björn Ivroth, Group CEO, EVRY said:
“I am pleased to see that EVRY continues to deliver solid earnings as well as strong organic growth in Q3. This favourable development is driven by good momentum in our business. All business areas reported stable order intakes of small and medium sized contracts during the quarter, which is the basis for us maintaining a strong backlog.
We can in this quarter clearly see that we are benefiting from the investments we have made and our unique position as the end-to-end solutions provider in certain industry verticals. By combining our digital and cloud-based offerings within Consulting, Application and Platform Services with industry expertise, we create business value for our customers. We continue to invest to build differentiated capabilities and capture new growth opportunities. This is exemplified this quarter with our acquisition of Exonor, a future-oriented e-health company.”
Total revenue of NOK 3 005 million in Q3 2018, compared to NOK 2 917 million in Q3 2017. Adjusted for currency impact and acquisitions, organic growth was 4.0% in Q3 2018 (1.9% in Q3 2017)
Total revenue of NOK 9 499 million YTD 2018 compared to NOK 9 183 million YTD 2017. Adjusted for currency impact and acquisitions, organic growth was 3.9% YTD 2018 (1.9% YTD 2017)
EBITDA*of NOK 467 million in Q3 2018, compared to NOK 472 million in Q3 2017, representing an EBITDA*margin of 15.5% in Q3 2018 (16.2% in Q3 2017). EBITDA*YTD 2018 of NOK 1 269 million (NOK 1 264 million YTD 2017), represent an EBITDA*margin of 13.4% YTD 2018 (13.8% YTD 2017)
EBITA*of NOK 413 million in Q3 2018, up from NOK 408 million in Q3 2017, representing an EBITA margin of 13.7% in Q3 2018 (14.0% in Q3 2017). EBITA*YTD 2018 of NOK 1 107 million (NOK 1 073 million YTD 2017), represent an EBITA margin of 11.7% YTD 2018 (11.7% YTD 2017)
Last Twelve Months (LTM) Cash Conversion as of 30 September 2018 of 82.8%
Backlog of NOK 17.8 billion as of 30 September 2018
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 around 8 500 employees across nine countries. It’s headquarter is located at Fornebu just outside Oslo, and the company is listed on Oslo stock exchange.
This information is subject to disclosure under the Norwegian Securities Act section §5-12