Record year for Data Respons
- The strong international growth contributed to record high revenues for the quarter and for the year overall. The last acquisitions in Germany combined with increased SW focus improves margins for the group, says Kenneth Ragnvaldsen, CEO of Data Respons ASA.
Operating revenue for the fourth quarter was NOK 353.5 million (301.6), a growth of 17 %. EBITDA amounted to NOK 31.1 million (25.5). EBIT was NOK 27.7 (22.6). Operating cash flow was NOK 35.7 million (46.5). Order intake for the period was NOK 410 million (334).
Operating revenue for the year was NOK 1 241.8 million (1 039.6), a growth of 19 %. EBITDA was NOK 102.5 million (74.4). EBIT was NOK 90.1 (68.4). Operating cash flow was NOK 78.3 million (79.4). Order intake for the period was NOK 1 325 million (1 129). The group's order backlog at the end of the quarter was NOK 794 million (781).
Technology trends provide tailwind
- R&D Services continue the strong development with a solid 30 % growth in 2017, whereof 8 % is organic. The international part of the operations in particular are enjoying several new and innovative projects, yielding high utilisation and record high EBIT. Our broad competences and experience fit very well with the technology mega trends. Currently we are involved in over 100 exciting development projects ranging from connected and autonomous vehicles to future smarter and more automated factories. This makes our company attractive to our customers, partners, and experienced engineers, says Ragnvaldsen.
Within the Solutions segment, the SW focus continues to be important driven by the desire to make everything smarter. The development of these solutions requires multidiscipline competence and enables a higher contribution for specialist companies such as Data Respons. This development, in combination with a strong cost discipline, has improved the profitability in the quarter and for the year overall, continues Ragnvaldsen.
Strengthened position in Germany
- Sweden maintains the position as the largest geographical market, counting for 48 % of revenues, however, Germany is growing at the highest pace. In addition to strong organic development, we acquired the SW-specialist EPOS CAT in December 2017. With this transaction, we continue to strengthen our presence in Germany, the largest market in Europe. EPOS CAT is a highly regarded supplier of specialist services to the automotive industry, an important and growing segment for Data Respons. In Germany, we are also involved in smart home concepts, modernisation of SW platforms within the banking sector, and several exciting projects within IoT, says Kenneth Ragnvaldsen, CEO of Data Respons.
Expecting continued strong development ahead
- 2017 provided record high revenues, order intake, and operating result. Technology mega trends, implying a more data driven society with a growing number of connected devices, will continue to mature across all industries. Our customers, from the established blue chip companies to the start-ups, are increasing their focus on new developments and upgrades of their products, platforms, and system solutions. Attractive market conditions, high activity, and robust order backlog offers a solid starting point 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 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