Zalaris

Earnings Release • Apr 29, 2015

ZALARIS: 2015 First quarter results

ZALARIS: 2015 First quarter results

Zalaris with another record quarter

Zalaris delivers yet another record quarter in the

first three months of 2015 with a 27 per cent

revenue growth.

Zalaris, a leading provider of payroll and HR

services, continues to deliver record-high quarterly

results compared to the same period in previous

years. In the first quarter this year, the company

saw a revenue increase in all segment areas,

resulting in overall revenue growth of 27 per cent

compared to Q1 2014 - reaching NOK 94 million.

"I am extremely proud of our hard-working employees

who all deliver value for our customers and our

shareholders. Leading companies increasingly

recognize our services and outsourcing advantages to

achieve significant cost savings as well as

operational efficiencies. Considering our strong

position in HR outsourcing, we are optimistic for

the future," says Hans-Petter Mellerud, CEO and

founder of Zalaris.

Zalaris is now serving more than 170,000 employees

with its payroll and HR services in some of the

largest companies in the Nordic region. In January,

Zalaris signed a significant agreement with a

Swedish Fortune 500 company with approximately

20,000 employees in the Nordics. As a result of the

agreement, 13 employees transferred to Zalaris in

the beginning of March with a revenue impact from

that month. This was one month earlier than

previously announced.

"We experience increased interest for our services

in all the countries where we operate, especially

within our cloud solutions. We see, for example, an

interest in the new mobile app that supports paper

free travel expense processes," Mellerud says.

Zalaris also reports that the strengthening of the

India operations is on track. As previously

announced, Zalaris is establishing its own India-

based service operations. As a result the current

service team, which is operated by a partner, will

transfer to Zalaris and be localized in Zalaris' own

Indian premises as of this coming summer.

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