Crayon Q4 2024: Strong profitability and cash flow

Crayon Group Holding ASA today reported its fourth quarter and full-year 2024 results. For Q4 the company delivered a gross profit growth of 2% percent and an adjusted EBITDA margin of 19.6 percent - an increase of 5 percentage points compared to Q423. The company also delivered its strongest ever Net Working Capital at NOK minus 1,473.   

“I’m pleased that we continue to deliver strong gross sales growth of 28 percent, profitability improvements and solid working capital performance. However, I’m disappointed that we didn’t deliver the expected Gross Profit. Tougher market dynamics in the Enterprise Agreements space and underperformance within Enterprise Software, impacted the growth in the quarter. On the positive side, we entered into several strategically important public sector agreements that in the long-term will become more profitable through increased cross- and upsell opportunities,” said CEO Melissa Mulholland.   

In 2024, Crayon demonstrated its ability to deliver solid profitable growth. The company achieved an 11 percent increase in gross profit, and a 28 percent increase in adjusted EBITDA.  

“We have delivered on our commitment to improve working capital, resulting in a strong operating cash flow at NOK 1.3bn. Additionally, 2024 has marked significant milestones. We received the Global Microsoft Partner Award and the AWS Industry Partner of the Year Award for Telco in EMEA, recognizing our dedication to innovation and excellence in cloud solutions. These accomplishments position us well for future opportunities and continued success,” said Mulholland.  

For the full year 2025 the company provides the following outlook: 

• Gross Profit growth 15-20% 

• Adjusted EBITDA Margin 19-22% 

• Net Working Capital ~-15% 

The financial report and presentation for Q4 2024 are available at 
https://www.crayon.com/investor-relations.

CEO Melissa Mulholland and CFO Brede Huser will present the results in a live webcast at 8:30 am CET that can be accessed at www.crayon.com/investor-relations. It will be possible to submit questions online. To join the conference call by telephone and ask questions, please use the information below. 
 
Dial in numbers: 

DK: +45 7876 8490 
SE: +46 8 1241 0952 
NO: +47 2195 6342 
UK: +44 203 769 6819 
US: +1 646-787-0157 
DE: +49 30 21789327 
Conference Code: 115901 
 
A recording of the webcast will be available on-demand after the live event has 
concluded. 
 
Investor contact: 

Kjell Arne Hansen 
Head of Investor Relations and Corporate Finance 
ir@crayon.com 
+47 950 40 372 

Crayon is a customer-centric innovation and IT services company with over 4,000 employees across 46 countries. We optimize businesses’ IT estate to help them innovate with expertise they can trust. Our services create value for companies to thrive today, and scale for tomorrow. For more information, visit www.crayon.com.