Zalaris

Earnings Release • Oct 28, 2015

ZALARIS: 2015 Third quarter results

ZALARIS: 2015 Third quarter results

Strong growth for Zalaris

Zalaris delivers a revenue growth of 22 percent in the year's

first nine months compared to the same period in the previous

year. The company strengthens its client portfolio with a five

year contract with Norwegian Railways (NSB).

Zalaris, a leading provider of payroll and HR services,

continues to deliver strong quarterly results. In the third

quarter, the company saw a revenue increase in all segments

resulting in overall revenue growth of 10.7 percent compared

with Q3 2014 - for a total of NOK 92.6 million. Year to date,

Zalaris has delivered a revenue growth of 22 percent compared to

YTD 2014.

The EBIT for the third quarter was NOK 6.3 million,

corresponding to an EBIT margin of 6.8 percent (9.9 percent in

Q3 2014). The results are affected by timing of vacation and

seasonal variations.

"We are proud of continuously delivering on our growth strategy.

In addition, we experience positive developments across our

entire organization and we are excited to open our new service

center in India with 50 new colleagues", says Hans-Petter

Mellerud, CEO and founder of Zalaris.

Zalaris is serving 190,000 employees with its payroll and HR

services, including some of the largest companies in the Nordic

region. The total amount of employees covered by Zalaris'

solutions is 15 percent higher at the end of this quarter

compared to the same period in the previous year. The strong

growth is driven by new clients such as Statoil, TeliaSonera and

Ericsson. In addition, Zalaris is chosen to deliver HR and

payroll services to approximately 6000 employees in the

Norwegian Railways Group.

"As it is our first agreement with a state-owned company - a

market with large potential for outsourced solutions - this is

also an important milestone for Zalaris. Our investments in

business development capacity are starting to pay off in terms

of increased interest from potential new customers", Mellerud

comments.

Zalaris has been nominated for the "Rising Star" award at the

annual European Small and Mid-Cap Awards to be held on December

9th in Brussels. The awards are arranged by the FESE (Federation

of European Securities Exchanges) and European Issuers in

cooperation with the EU Commission.

"We are proud of the nomination and feel strongly that this is

recognition of our growth strategy. Zalaris has delivered

significant growth in all quarters since the IPO on Oslo Børs",

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