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RNS - Zalaris ASA: Reaffirming NOK 2 bn ambitious revenue target and clear path to long-term shareholder value creation, following strategic review

Company: Zalaris Date: 2025-06-12 Language: English Register to download

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 Zalaris ASA: Reaffirming NOK 2 bn ambitious revenue target and clear path to long-term shareholder value creation, following strategic review

# Zalaris ASA: Reaffirming NOK 2 bn ambitious revenue target and clear path to long-term shareholder value creation, following strategic review

Oslo, Norway – 12th of June 2025 – Zalaris ASA (Zalaris, OSE:ZAL) today announces the conclusion of its strategic review, undertaken to evaluate value-enhancing opportunities for its stakeholders.  

  

Following a comprehensive assessment of potential strategic alternatives, supported by ABG Sundal Collier, the Board of Directors has determined that continuing with the company’s current strategy represents the most compelling route to long-term value creation.  

  

This decision is underpinned by the significant operational improvements over the last 12 months, which have driven above-target growth and profitability, as highlighted in Zalaris’ Q1 2025 financial report.  

  

During the review period, the company received and evaluated acquisition proposals. The Board concluded that these offers did not have a premium that adequately reflected Zalaris’ value, particularly considering its recent financial outperformance, strong growth trajectory and positive outlook.  

  

“We have overdelivered significantly on the growth and profitability trajectory we set out at our September 2023 capital markets day. With a proven strategy and positive momentum, we are strongly motivated and in a stellar position to continue delivering superior and sustainable value creation for our stakeholders,” said Hans-Petter Mellerud, CEO and co-founder of Zalaris.  

  

Strong financial performance and momentum:  

  

In Q1 2025, Zalaris delivered its seventh consecutive quarter of strong growth and enhanced profitability. Revenues increased by 19% year-over-year, reaching an annualized run-rate of approximately NOK 1.5 billion—achieving this milestone a full year ahead of plan. The company also reported a 50% year-over-year improvement in its adjusted EBIT margin for the quarter, which rose to 14.1%, highlighting the strength and resilience of Zalaris’ business model. This positive momentum was further supported by a significant improvement in cash conversion.  

  

“Building on this momentum, our ambition is to achieve NOK 2 billion in annual revenue by 2028, driven by organic growth. In parallel, we have established a clear pathway to continue strengthening our EBIT margins over the same period,” said Hans-Petter Mellerud.  

  

Advancing Global Leadership in Payroll and HR Transformation:  

  

Zalaris remains firmly committed to its strategic ambition to become one of the top three global providers of multi-country payroll and HR transformation services. The company continues to deepen its long-standing partnership with SAP, supporting clients in their transition to cloud-based solutions, and strategic use of artificial intelligence (AI) while enhancing its proprietary IP to address local and industry-specific needs.  

  

“As a European company, with solutions hosted entirely in Europe—we are now better positioned than ever to serve European customers with scalable global solutions in both the near and medium-term future,” Mellerud continues.  

  

Positioned for Value Creation as a Public Company:  

  

The Board of Directors believes that Zalaris is well positioned to unlock superior value for shareholders, driven by its scalable business model and sustained revenue growth. The company continues to make good progress toward its communicated cash conversion target of 70% and remains committed to distributing 50% of its profit before tax to shareholders.  

  

The strategic review was partly initiated due to the low daily trading volume of Zalaris shares, which has led to elevated price volatility—an issue for shareholders requiring stable mark-to-market valuations.  

  

The Board and management are committed to improving share liquidity over time by allocating resources to enhance marketability and trading dynamics on the Oslo Stock Exchange (OSE). Strong financial performance supports this effort and reinforces our long-term value creation strategy.  

  

Contact:  

  

Adele Norman Pran, Chair of the Board of Directors  

Mobile: +47 971 64 411  

  

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  

  

This information is subject to the disclosure requirements pursuant to section 5-12 of the Norwegian Securities Trading Act.

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