First quarter 2023 financial results
Zalaris ASA (Zalaris, OSE:ZAL) reported record-high revenues in the first quarter of 2023 of NOK 260.1 million, up 25 percent from the same period in 2022, reflecting strong underlying fundamentals.
"The company grew more than 25 percent in the quarter, and 17 percent in constant currency, and delivered the fifth consecutive quarter with all time high revenues. We closed the quarter with all-time-high volume of new signings in Managed Services that in total generated around 75% of our sales target for the year, and we are well on track to deliver on our target of generating NOK 1 billion in revenue by the end of 2023.” says Hans-Petter Mellerud, Chief Executive Officer of Zalaris.
The reported revenues of NOK 260.8 million in the first quarter of 2023 compares to NOK 208.4 million in the first quarter 2022. Adjusted EBIT*, excluding the APAC operations launched in 2022, was NOK 21.0 million in the first quarter, compared to NOK 14.8 million in the first quarter of 2022. The reported EBIT ended at NOK 12.8 million compared to NOK 8.4 million to the first quarter of 2022.
The EBIT improvement project is on track and continues to be Zalaris’ number one priority. The plan is for EBIT improvements of 40 - 50 million by the end of 2023.
“With our recently signed agreements we will soon cover more than fifty countries with our existing solutions and services. Including setting up own solution delivery capability together with partners in important markets as North America, China, and South America, significantly increasing the Total Addressable Market for Zalaris.”, Mellerud concludes.
Zalaris will host a streamed management presentation at 08:30 CET today followed by a Q&A session. The webcast will be available on ir.zalaris.com or directly on Teams.
The presentation of the first quarter 2023 financial result and the financial report are enclosed.
* Adjusted EBIT and other alternative performance measures (APMs) are defined and reconciled to the IFRS financial statements as a part of the APM section of the first quarter 2023 financial report on page 22 to 24.
Contact:
Hans-Petter Mellerud, CEO
Mobile: +47 928 97 276
E-mail: hans-petter.mellerud@zalaris.com
Gunnar Manum, CFO
Mobile: +47 951 79 190
E-mail: gunnar.manum@zalaris.com
About Zalaris
Zalaris (OSLO: ZAL) simplifies HR and payroll administration and empower customers with useful information so that they can invest more in people. We are a leading service provider of Human Experience Management (HXM) solutions across Europe, serving more than 1.5 million employees with an annual revenue of NOK 893 million (2022). We hold #1 or #2 positions in most of our markets. Our consultants have more than 22 years of experience in transforming HR with our clients. Simplify work life. Achieve more. For more information, go to www.zalaris.com.
This information is considered to be inside information pursuant to the EU Market Abuse Regulation and is subject to the disclosure requirements according to section 5-12 of the Norwegian Securities Trading Act. The information was submitted for publication by [Gunnar Manum], CFO, on behalf of the company on the time and date set out above.
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