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Crayon Group Holding — Earnings Release 2018
May 15, 2018
3573_rns_2018-05-15_b5bfc6d2-a471-40a7-beca-313ae0fb042f.html
Earnings Release
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Crayon Group Holding ASA: Financial results Q1 2018 - Continued strong commercial momentum and profitability improvement
Crayon Group Holding ASA: Financial results Q1 2018 - Continued strong commercial momentum and profitability improvement
Oslo, 15 May 2018: Crayon Group Holding ASA ("Crayon" or the "Company", OSE ticker code "CRAYON") reports another consecutive quarter of positive year-over-year ("YoY") organic revenue and gross profit growth across all business areas and market clusters. Q1 2018 revenue growth was 37% and gross profit growth was 15% compared to Q1 2017.
Adjusted EBITDA in Q1 2018 increased by MNOK 8.4 (compared to Q1 2017) to MNOK 13.3. The YoY EBITDA increase in Q1 2018 was driven particularly by the Nordics market cluster with strong growth both within software and services.
"Crayon continued to demonstrate strong commercial momentum across all business areas and market clusters. It is particularly satisfying to see the strong development in the Nordics with significant gross profit and EBITDA improvement, emphasizing the importance of delivering in our core markets.", commented Crayon CEO Torgrim Takle.
Financial Key figures for Q1 2018:
- Revenue of MNOK 1,856 in Q1 2018, compared to MNOK 1,359 in Q1 2017
- Gross profit of MNOK 310 in Q1 2018, compared to MNOK 270 in Q1 2017
- Adjusted EBITDA of MNOK 13 in Q1 2018, compared to MNOK 5 in Q1 2017
The interim financial report and presentation for Q1 2018 are enclosed.
The report, presentation and webcast of the presentation will be made available at https://www.crayon.com/en/about-us/investor-relations/
For further queries, please contact:
Torgrim Takle, Chief Executive Officer Crayon Group Holding ASA
Tel.: +47 95 14 07 82
Email: [email protected]
Magnus Hofshagen, Head of IR Crayon Group Holding ASA
Tel.: +47 48 49 91 95
Email: [email protected]
About Crayon
Crayon Group Holding ASA is a leading IT advisory firm in software and digital transformation services. With unique IP tools and skilled employees, Crayon help optimize its clients' ROI from complex software technology investments. Crayon have long experience within volume software licensing optimization, digital engineering, predictive analytics and assists the clients through all phases of the process of a digital transformation. Headquartered in Oslo, Norway, the company has approximately 1,100 employees in 43 offices worldwide.