Strong start to 2017 for Data Respons
- The positive development internationally in combination with a strong momentum in R&D Services gave a record start to 2017. The trends of increased automation, industrial digitalisation and IoT (Internet of Things) fits well with our competence profile and provides strong growth opportunities for Data Respons, says Kenneth Ragnvaldsen, CEO of Data Respons ASA.
Operating revenue for the first quarter was NOK 293.4 million (243.6), a growth of 20 %. EBITDA amounted to NOK 24.2 million (13.2), and profit before tax was NOK 40.5 million (10.5). EPS (Earnings per share) was 0.69. Net operating cash flow was NOK -16.6 million (4.5). The order intake for the quarter was NOK 363 million (312). The group’s order backlog at the end of the first quarter was NOK 851 million (759).
Record quarter for R&D Services
– We experience a strong development in the R&D Services segment with a growth of 50 % and have record results in the first quarter. Data Respons has had a good inflow of new assignments and innovative projects from both current and new customers in Norway and internationally. We have a competitive and technology driven culture and have been involved in more than a thousand large and small development projects over the last years which makes us attractive for our partners, customers and skilled engineers, says Ragnvaldsen.
Strengthening the organisation internationally
In addition to a healthy organic development, Data Respons will continue to consider bolt-on acquisitions as part of our international growth plan. In the first quarter, TechPeople was fully incorporated into the group. The company specialises in software and application development, architecture and system design as well as communication for embedded and IoT solutions. The acquisition strengthens Data Respons’ position as a leading player within R&D Services in Denmark and TechPeople is well positioned in terms of the digitalisation that will form industrial and technological companies in years to come, says Kenneth Ragnvaldsen, CEO of Data Respons.
Expect a good development ahead
– The world is getting more digitalised, automated and connected. For both established and new customers this means a greater focus is placed on new development and upgrades of their products, platforms and systems. Good market conditions, high activity levels and a record high order reserve provides a good starting point for a continued positive development, Ragnvaldsen concludes.