Increased EBIT in the third quarter
Zalaris ASA, the provider of Payroll and HR Solutions, today posted third-quarter adj. EBIT of 13.3 million, an increase of 49% from last year.
Key financial figures for Q3:
- Revenue of NOK 189.7 million (NOK 190.7 million), approximately in line with last year
- Adjusted EBIT of NOK 13.3 million (NOK 8.9 million), an increase of 49.4%
- Results for the period of NOK -3.1 million (NOK -9.3 million)
- Cash of NOK 116.3 million (NOK 64.8 million), an increase of NOK 51.5 million (79.5%) from last year
Continuing positive development in margins and cash
- #teamZalaris continued weathering the Covid-19 storm delivering on all customer commitments and maintaining stable revenue levels
- Strong positive development in EBIT resulting in an all-time high Q3 EBIT since IPO in 2014
- Signed several new agreements including a BPO agreement with Danske Bank and our first platform-based deal with a UK based FTSE250 gaming company
- Continued strong operating cash flow
Maintaining revenue with zero churn despite Covid-19
“Despite short-term impacts from the Covid-19 pandemic, #teamZalaris delivered revenue of NOK 189.7 million, which is in line with the same quarter last year. EBIT continued on the journey towards our communicated 10% target to NOK 13.3 million (7%), which is an increase of 49% compared to Q3 last year, and one of our best Q3s ever.” – says CEO and Founder Hans-Petter Mellerud.
“We are experiencing an all-time-high interest in our outsourced multi-country payroll solutions, as customers are exploring alternatives to reduce costs and optimise their global HR processes...” – Mellerud.
Zalaris will host a webcast for all shareholders and interested parties today at 08:30 CET. There will be a Q&A session following the management presentation.
The third quarter webcast will be available through ir.zalaris.com.
Zalaris ASA Q3 2020 Presentation.
Hans-Petter Mellerud, CEO and founder
Mobile: +47 928 97 276
Gunnar Manum, CFO
Mobile: +47 951 79 190
Zalaris (OSLO: ZAL) simplify HR and payroll administration, 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 than1.5 million employees with an annual revenue of 77 million Euros (2019). We hold #1 or #2 positions in most of our markets. Our consultants have more than 20 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 subject to the disclosure requirements pursuant to section 5-12 of the Norwegian Securities Trading Act.