Record strong start to the year
- High organic growth, both in Norway and internationally, contributed to a record strong start of the year. In a more data driven world, customers increase their R&D investments offering several exciting technology development projects for our specialists, says Kenneth Ragnvaldsen, CEO of Data Respons ASA.
Revenue for the first quarter was NOK 452.3 million (352.9), a growth of 28%. EBITA amounted to NOK 50.9 million (30.2). EBIT was NOK 45.4 (26.8). Profit for the period was NOK 55.8 million (26.3). EPS was NOK 0.92 (0.46). Data Respons had a net operating cash flow of NOK 22.9 million (-49.7) in the first quarter.
Growing in all geographical markets
– Data Respons delivered record-high revenues growing at 28% in the first quarter, whereof 17% was organic growth. We are experiencing positive development in all geographical markets and the Solutions segment has returned to growth. Sweden continues to be the largest market accounting for 45% of revenues, however Germany is gaining ground. We see several large opportunities in the German market going forward confirmed by large order intake, including a 5-year 225 million kroner contract – the largest in the history of our company.
The company’s operating margin (EBITA) continued to grow ending at 11.3% for the quarter. Focus on continuous improvements, recruitment of the best talents, and development of our competence are the most vital measures of success in our organisation, says Kenneth Ragnvaldsen, CEO of Data Respons ASA.
– Companies across all industries are developing smarter, connected and digital solutions to improve their products and keep up with the innovation pace. Data Respons is deeply involved in several business-critical technology development projects such as advanced fleet management systems for trucks, car-as-a-service concepts, smart factory solutions based on industrial IoT and machine learning (AI), as well as modernisation of banking software infrastructure. These projects are typically long-term engagements that require specialists with niche competence. I am proud to see that we continue to add new blue chip companies to our customer list and that our skilled engineers are delivering high quality, Ragnvaldsen continues.
Expect good development ahead
– 2019 has started promising with record high revenues and profitability. The market outlook remains positive. We are experiencing an increase in development budgets and that our customers are increasing their investments in modern and more sustainable technology. Data Respons is determined to continue the growth through a combination of organic development and selective bolt-on acquisitions in the Nordics and Germany to strengthen our position as a complete technology partner for innovative industry- and technology companies, 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