Growth in Q4
- The quarter returned 20% growth for both revenue and order intake, and the company is closing 2010 with a record high order reserve. Challenges in Denmark contribute to a negative result, says Kenneth Ragnvaldsen, CEO of Data Respons.
Operating revenue for the 4th quarter was NOK 205.6 million. EBITDA was NOK -3.6, and EBIT was NOK -5.3. Order intake during the quarter totalled NOK 218 million, a growth of 20%. Cash flow from operating activities was NOK 7.9 million (-0.3).
Operating revenue for 2010 was NOK 708.1 million. EBITDA was NOK 3.8, and EBIT was NOK -3.1. Order intake during the period totalled NOK 913 million, a growth of 43%, resulting in a record high order backlog of NOK 629 million, an increase of 48% compared to last year.
Challenges in Denmark
- The development in the Danish company has been affected by tougher market conditions throughout 2010 compared with the rest of the group. In addition the quarter has been affected by one-off costs related to a bankruptcy for a customer and delays for a solutions project. The project is now completed and has entered the delivery phase, and several initiatives have been launched to improve profitability going forward.
The market is showing signs of improvement, and on a positive note the quarter ended with the fifth largest solutions contract for the group in 2010, says Ragnvaldsen.
Presence in Asia
- In many of our largest contracts in 2010, Asia plays a key part. Our presence close to our largest customers combined with our focus on Asia gives us a competitive advantage and will play a significant part in the coming years, says Ragnvaldsen. Our presence in Taiwan and Shanghai, China provides quality both in the industrialisation process and the delivery phase, while at the same time providing many of our customers with new opportunities in Asia.
- Both existing and new customers contribute to the strong order intake of NOK 913 million in 2010. This is the second highest in the company's history, only beaten by the record year 2008. In addition the order backlog is at a record high NOK 629 million. This indicates that the company is well positioned for future growth and that the market has turned in a positive direction. For us this mean a good start to 2011, says Ragnvaldsen.
ABOUT DATA RESPONS
Data Respons is a leading Embedded Solutions provider for the industrial market in Europe. Embedded Solutions can be described as 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 4th quarter 2010 the company had a total of 457 employees. More information on Data Respons ASA can be found on our website: www.datarespons.com
FOR FURTHER INFORMATION PLEASE CONTACT:
Kenneth Ragnvaldsen, CEO, Data Respons ASA, phone: +47 67 11 20 00 Mob: +47 913 90 918.