ZALARIS: 2016 Third Quarter Results
Continued growth, solid margin improvement
Zalaris' Q3/16 revenues were up 5.4% to NOK 97.7 million, with an EBIT margin at 9.4%. Top analysts continue to recognize Zalaris as top performer in a healthy growth market.
Zalaris, a leading provider of payroll and HR services, delivered solid results in Q3/16 with continued growth and margins close to target. Sales increased 5.4% to NOK 97.7 million in Q3/16 from Q3/15, with a corresponding EBIT of NOK 9.2 million (9.4%) for the period.
"We continued growing in Q3 and delivered operational improvements resulting in robust margins. Prospects are promising based on both internal improvements and recent market developments, says Hans-Petter Mellerud, Zalaris' CEO and founder.
Zalaris' Chennai-based service center celebrated one-year anniversary with doubled workforce, advancing improvements for the company. The service center represented more than 20 per cent of the company's total service and support hours in Q3/16.
"Our Chennai service center increasingly enables us to optimize customer service at lower cost levels. The shift towards increased production in Chennai continues with full force, and full margin effect is expected in Q2/17", Mellerud comments.
Zalaris served more than 200,000 employees on a monthly basis in Q3/16. The company adapted organizational structure to support market changes and potential to expand into other countries.
"Many companies are starting to respond to the opportunities from digitalization, embarking on new business models and partnerships. Talent management and HR are at the core of enabling the change and leaders are increasingly looking for more modern and flexible HR support. Top industry analysts continue to recognize Zalaris as "Star Performer" in this healthy growth market", Mellerud says.
Contact
Hans-Petter Mellerud, CEO and founder
Mobile: +47 928 97 276
E-mail: hans-petter.mellerud@zalaris.com
Nina Stemshaug, CFO
Mobile: +47 982 60 394
E-mail: nina.stemshaug@zalaris.com
About Zalaris
Zalaris excels in delivering comprehensive cloud- based HR and payroll services. The company is certified as a SAP Business Process Outsourcing (BPO) Partner and is a leading SAP Human Capital Management (HCM) and SuccessFactors consulting partner. Founded in 2000, Zalaris today operates in Denmark, Estonia, Finland, India, Latvia, Lithuania, Norway, Poland and Sweden, including local-language service centers with extensive expertise in HR- related laws and regulations. Learn more about Zalaris at www.zalaris.com