Fourth quarter 2022 financial results
Zalaris ASA (Zalaris, OSE:ZAL) reported record-high revenues in the fourth quarter of 2022 of NOK 250.6 million, up 24.2 percent from the same period in 2021, reflecting strong underlying fundamentals.
"The company grew more than 22 percent in the quarter in constant currency. We made several good wins in the fourth quarter, and several potential large new contracts are in the final contracting stage. We are well positioned to deliver on the landmark 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 250.6 million in the fourth quarter of 2022 compares to NOK 201.7 million in the fourth quarter 2021. Adjusted EBIT*, excluding the APAC operations launched in the first quarter, was NOK 15.9 million in the fourth quarter, compared to NOK 10.2 million in the fourth quarter of 2021. The reported EBIT ended at NOK 9.7 million compared to NOK 1.5 million to the fourth quarter of 2021.
To increase earnings, a detailed plan for annual EBIT improvements of 40 - 50 million by the end of 2023 has been launched and is progressing according to plan. The increase will come through direct cost improvements, as increased use of delivery centers in Latvia, Poland and India, improved scheduling of resources and contribution from new signed contracts.
Zalaris is well positioned with global delivery capability and is ready to take on new, large projects. The aim is to help customers simplify work life and achieve more.
“There are many challenges facing businesses right now in these unsettling times with high inflation, wage hikes and soaring energy bills. Corporations need to be resilient, yet agile, disciplined innovation is also crucial. But enterprises cannot cope alone. They need to reduce and variablise costs and in parallel access skills and capabilities that also evolve. As our market success proves, outsourcing is seen as a solution. It’s why it is going through a significant pivot point, particularly in payroll and HR solutions and services.” - 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 fourth quarter 2022 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 fourth quarter 2022 financial report on page 24 to 26.
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 you with useful information so that you 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 893m (2022). We hold #1 or #2 positions in most of our markets. Our consultants have more than 21 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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