Another Record Quarter
- We have put another record quarter behind us and passed 1 billion kroner in revenues during the first nine months. We are experiencing growth in all geographical markets driven by the large ongoing trends such as internet of things (IoT) and the digital race influencing all industries, says Kenneth Ragnvaldsen, CEO of Data Respons ASA.
Operating revenue for the third quarter was NOK 341.8 million (283.3), a growth of 21 %. EBITDA amounted to NOK 34.2 million (24.1). EBIT was NOK 29.8 (21.0). Profit for the period was NOK 18.9 million (13.5) and EPS of NOK 0.32 (0.25). Data Respons had a cash flow from operating activities of NOK 3.1 million (13.9) in the quarter.
Operating revenue for the first nine months was NOK 1 051.3 million (888.3), a growth of 18 %. EBITDA was NOK 98.2 million (71.4). EBIT was NOK 81.9 (62.4). Operating cash flow was NOK 9.2 million (45.0).
Strong growth in R&D
– The R&D Services segment continues the solid development with a growth of 45 % in the third quarter, whereof 27 % was organic. Companies across all industries are developing smarter, more connected and digital solutions to improve their products. This creates a tremendous demand for the relevant competence resulting in strong competition for the best engineers. Our organic growth is important, confirming that we have developed an attractive tech-company capable of attracting the best talents. The trust and confidence shown by our customers rely on us having an excellent specialist environment, says Kenneth Ragnvaldsen, CEO of Data Respons ASA.
Increasing in Germany
– Over the last years, we have strengthened our position in Germany, the by far largest market in Europe. Recently we completed the acquisition of two technology companies situated in Leipzig with 125 employees. The companies are leading niche providers of specialist services and SW technology specifically aimed at ‘Connected Car’ solutions, IoT, mobile services and embedded applications. The companies share the same culture, embedded technology profile and passion for developing innovative solutions as Data Respons. I am pleased to welcome IT SONIX and XPURE to the Data Respons family, says Ragnvaldsen.
Expect a good development ahead
– The first nine months of 2018 yielded record high revenues and profitability. The overall market outlook remains attractive and we see growth opportunities in all our key markets. Data Respons seeks to continue the growth through a combination of organic development and selective bolt-on acquisitions in the Nordics and Germany to strengthen our position as a complete technology partner for innovative tech start-ups to blue-chip global players. When we passed 1 billion kroner in revenues, a new target of reaching two billion by 2020 was set. I am pleased to see that we are well on our way to reaching that target, Ragnvaldsen concludes.