EVRY ASA: Continued revenue and profitability growth
(Fornebu, 6 February 2018) EVRY is pleased to announce organic revenue growth of 3.7% and an adjusted EBITA margin of 14.5% for the fourth quarter of 2017. Total operating revenue ended at NOK 12,596 million for the full year 2017, with an adjusted EBITA margin of 12.5% as compared to 10.8% in 2016. A dividend of NOK 1.25 per share is proposed.
EVRY’s operating revenue in the fourth quarter of 2017 totalled NOK 3,413 million. After adjusting for currency effects and acquisitions and divestments, this is equivalent to an organic revenue growth of 3.7%, compared to 0.3% in the fourth quarter of 2016. EVRY’s adjusted EBITA margin for the fourth quarter of 2017 was 14.5%, compared to 12.5% in the fourth quarter of 2016.
▶ We are pleased to announce both robust revenue growth and higher margins in the fourth quarter of 2017 relative to the same quarter in 2016. We generated strong earnings for 2017, confirming that the change journey we are on at EVRY is having a positive effect, comments Björn Ivroth, CEO of EVRY.
EVRY reports total operating revenue for 2017 of NOK 12,596 million, as compared to NOK 12,246 million in 2016. This represents an organic revenue growth of 2.4% on an annual basis. The group’s EBITA increased from NOK 1,322 million in 2016 to NOK 1,569 million in 2017, representing an EBITA improvement of 18.7%.
Disruptive technologies driving demand
In 2017 EVRY experienced stronger demand for application development and digitalisation services. The company set up a new centre specialising in the development of cognitive services and automation solutions, in order to ensure high-quality deliveries in relation to disruptive technologies.
▶ Digitalisation is high on the agenda of both senior executives and board members in most industries. We are also seeing that new regulations and a greater focus on compliance are creating new business opportunities. In 2018 we will strengthen both our service offering and our focus on small and medium-sized businesses to ensure good scalable solutions for this important part of Nordic business and industry”, comments Björn Ivroth.
Financial key figures for the fourth quarter of 2017
▶ Total operating revenue of NOK 3,413 million in Q4 2017, compared to NOK 3,238 million in Q4 2016. After adjusting for currency effects and acquisitions and divestments, this represents organic growth of 3.7% (0.3% in the fourth quarter of 2016).
▶ Adjusted EBITA increased by 22.8% to NOK 495 million in Q4 2017 (NOK 403 million in Q4 2016), giving an EBITA margin of 14.5% (12.5% in Q4 2016).
▶ Last twelve months (LTM) cash conversion at 31 December 2017 ended at 91.6%, a decrease of 16.4 percentage points from LTM cash conversion at 31 December 2016.
▶ A strong order backlog of NOK 18.0 billion was in place at 31 December 2017.
▶ A proposed dividend for FY 2017 of NOK 1.25 per share
Frank Stangnes, Head of Group Treasury and Investor Relations, tel.: +47 47453275
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