Growth in a challenging market
Data Respons started the year with a revenue growth of 25% in the first quarter. Extraordinary costs in Denmark reduce the profitability.
The Group's operating revenue in the first quarter was NOK 218.3 million, a growth of 25%. EBITDA was NOK 5.0 million, down 53% from last year. The order backlog was NOK 461 million at the end of the quarter, up 7% from last year. Cash generated from operating activities totalled NOK -15.4 million in the quarter. The order intake was negatively affected by a NOK 26 million currency adjustment of the order backlog, and ended at NOK 165 million.
Negative impact in Denmark
- The quarter is marked by extraordinary costs on several solution projects and a sudden decline in the demand for services. We are not pleased with the negative result from Denmark and have implemented personnel adjustments and other cost reductions which will contribute to improve the results for the Danish organisation, says Kenneth Ragnvaldsen, CEO of Data Respons.
A solid start in Norway and Germany
- Considering the current market situation, Data Respons has had a very good start to the year in both Norway and Germany, with a healthy growth in revenue and profitability, says Ragnvaldsen. Norway has set a record in order backlog, which indicates well for the coming periods.
Healthy growth in solutions
- We are experiencing an increased demand for solutions that improve the competitive position of our customers. At the same time the customers looking for a solid and long-term solutions provider that can cover the whole value chain from development to delivery of embedded solutions, says Ragnvaldsen.
FOR FURTHER INFORMATION PLEASE CONTACT:
Kenneth Ragnvaldsen, CEO, Data Respons ASA, phone: +47 67 11 20 00 Mob: +47 913 90 918.
ABOUT DATA RESPONS
Data Respons` vision is to become leading in Europe within 2010 on Embedded Solutions in the industrial market. Embedded Solutions can be described as being the brains of a machine, system or industrial end product. Data Respons supplies Embedded Solutions to leading OEM companies, system integrators and vertical product suppliers in a range of market segments such as defence, offshore, automation, medical equipment, surveillance, transport, telecommunications and other industries. 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 Denmark, Finland, Norway, Sweden and Germany. At the close of the 1st quarter 2009 the company had a total of 518 employees.
More information on Data Respons ASA can be found on our website: http://www.datarespons.com