Another record year for Data Respons
- 2019 turned out to be yet another record year for Data Respons. We have achieved an impressive 17% annual growth over the last 19 years and at the same time increased our margins to best in class performance, says Kenneth Ragnvaldsen, CEO of Data Respons ASA.
Profitable growth – a part of the company DNA
Data Respons continued its positive development in 2019 with a revenue growth of 25% and increased its results (EBITA) by 51% at the same time. The company is experiencing high activity across all geographical regions, business segments and markets.
Data Respons is well positioned in the underlying megatrends of industrial digitalisation (software acceleration), connectivity (IoT) and automation, which has contributed to a record performance this year. The company has strengthened its footprint in the mobility sector and signed several major contracts with key customers in other verticals like the Telecom & Media, Finance and Industrial Automation, Security, Space and Defence and Energy and Maritime.
– Focus on profitable growth is a core part of the company’s DNA, and we are continuously launching new short- and long-term initiatives to sustain this over time. Initiatives include new start-ups, technology transfer, recruitment of new talent, collaboration with universities and customer partnerships. With an average annual growth of 17% over the last 19 years, I think it fair to say that Data Respons is a true growth company, says Kenneth Ragnvaldsen, CEO of Data Respons ASA.
A growing family of high performers
– During 2019, we successfully added two more companies to the group, DONAT in Germany and inContext in Sweden. Both are leading players in their niche and represent important contributions to our offerings. Identifying strong candidates with excellent performance, fantastic engineers and a peopled based culture is an important part of our business model. We call it “organic M&A”, says Ragnvaldsen.
– Including our 2019 acquisitions, we added on 300 new engineers and the group now represents more than 1 400 specialists. The common denominator is their enthusiasm for new technology and the exciting opportunities it offers. The key to our success is the niche specialist focus in combination with in-depth domain knowledge. At Data Respons, being a nerd is a designation of honour. The trust and confidence shown by our customers rely on us having an excellent specialist environment, says Kenneth Ragnvaldsen, CEO of Data Respons ASA.
Positive development ahead
– We have experienced a fantastic 2019, with revenues and profitability both reaching record levels. The market outlook remains positive and we are experiencing an increasing demand from customers looking to invest in new technology, digital platforms and more sustainable solutions. Data Respons is determined to continue its growth through a combination of organic development and selective bolt-on acquisitions in the Nordics and Germany, which will strengthen our position as a complete technology partner for innovative industry and technology companies, Ragnvaldsen says.
Voluntary cash offer from AKKA Technologies
On the 19th December 2019, AKKA Technologies SE launched a voluntary cash offer at NOK 48 per share for all of Data Respons’ outstanding shares. AKKA’s offer corresponds to an equity value of Data Respons of NOK 3.7 billion.
– AKKA’s interest in Data Respons confirms that we have built a well-driven business that is attractive and that represents a promising future. The potential in this merger represents a win-win situation for both companies. The combined company will create added value for our customers, and at the same time be an outstanding opportunity for our fantastic employees, which is the heart, soul and value of our company, Ragnvaldsen concludes
Key figures for Q4
- Revenue in the fourth quarter was NOK 521.6 million (436.7), a growth of 19%.
- EBITA was NOK 64.7 million (47.8), a growth of 35%.
- The underlying EBITA in the fourth quarter was NOK 79.4 million, adjusted for expensed transaction costs of NOK 1.2 million, a provision for bad debt on a trade receivable from 2017 of NOK 8.0 million and social security tax accrual of NOK 5.5 million related to the Company’s employee share option scheme.
- EBIT was NOK 56.4 million (42.3), a growth of 35%.
- Profit for the period was NOK 33.5 million (0.4). EPS was 0.39 (-0.03).
- Data Respons had a cash flow from operating activities of NOK 73.7 million (54.1) in the fourth quarter.
Key figures for 2019
- Revenue for 2019 was NOK 1 866.5 million (1 488.0), a growth of 25%.
- EBITA was NOK 216.2 million (142.8), resulting in an EBITA margin of 11.6% (9.6%).
- Data Respons had a cash flow from operating activities of NOK 203.2 million (63.4).
- The total number of employees on 31 December 2019 was 1 007 (776), and including subcontractors, the company had 1 412 (1 120) employees.
For further information:
Kenneth Ragnvaldsen, CEO, Data Respons ASA, tel. +47 913 90 918.
Rune Wahl, CFO, Data Respons ASA, tel. + 47 950 36 046
About Data Respons
Data Respons is a full-service, independent technology company and a leading player in the IoT and the embedded solutions market. We provide R&D services and embedded solutions to OEM companies, system integrators and vertical product suppliers in a range of market segments such as Transport & Automotive, Industrial Automation, Telecom & Media, Space, Defence & Security, Medtech, Energy & Maritime, and Finance & Public Sector.
Data Respons ASA is listed on the Oslo Stock Exchange (Ticker: DAT), and is part of the information technology index. The company has offices in Norway, Sweden, Denmark, Germany and Taiwan. www.datarespons.com
This information is subject of the disclosure requirements pursuant to section 5-12 of the Norwegian Securities Trading