Strong international growth for Data Respons
- The strong international growth contributed to record high revenues for the quarter. An increasingly data driven world emphasises the R&D focus amongst our customers and offers several exciting technology projects for our specialists, says Kenneth Ragnvaldsen, CEO of Data Respons ASA.
Operating revenue for the third quarter was NOK 283.3 million (231.2), a growth of 23 %. EBITDA amounted to NOK 24.1 million (18.3). EBIT was NOK 21.0 (17.3). Operating cash flow was NOK 13.9 million (8.6). Order intake for the period was NOK 219 million (186).
Operating revenue for the first nine months was NOK 888.3 million (738.0), a growth of 20 %. EBITDA was NOK 71.4 million (48.9). EBIT was NOK 62.4 (45.8). Operating cash flow was NOK 45.0 million (32.9). Order intake for the period was NOK 915 million (794). The group's order backlog at the end of the quarter was NOK 738 million (755).
Strong international growth
- Solid development in our international business units is driving this quarter's growth. Sweden remains the largest geographical market counting for 48 % of revenues YTD, however Germany offers the highest growth. Data Respons' revenues in Germany, so far this year, has surpassed Norway - which is still impacted by challenging market conditions. We see several promising growth opportunities in years to come - both organic and through selective acquisitions. Considering the underlying market size, Germany has the potential to become the largest geo-market for Data Respons in some years. In Germany, we are involved in smart home concepts, modernisation of SW platforms within the banking industry and several interesting projects within the automotive industry - an industry which is becoming more SW oriented, connected and digitalised, says Ragnvaldsen.
A data driven world
- We have good progress in R&D Services and Solutions in the quarter, growing at 25 % and 20 % respectively. The key growth driver is the ongoing digital transition across all market verticals. Most products and solutions, from the simple sensor to the modern truck have more built-in logic, increased SW content and are connected in a more efficient way. This facilitates a data driven world, enabling new service driven business opportunities and/or lower costs. As complexity increases, there is a growing need for product development. This in turn increases the demand for our specialist's competence and our hands-on experience from developing advanced embedded solutions in cars, robots or smart homes, says Kenneth Ragnvaldsen, CEO of Data Respons.
Expecting good development ahead
- This year has so far proven solid growth, improved profitability and strong cash flow from operations. Our customers, from the established industrial companies to start-ups are increasing their focus on new development and upgrades of existing products, platforms and system solutions. Favorable market conditions, high activity and a robust order backlog provides a good foundation for continued strong development going forwards, Ragnvaldsen concludes.
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 Medical, Industry Automation, Smart grid/Smart home, Bank and Insurance, Automotive, Defence, Maritime, Energy and Telecommunications.
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