Kurs & Likviditet
Beskrivning
| Land | Norge |
|---|---|
| Lista | OB Match |
| Sektor | Tjänster |
| Industri | IT-konsult & onlinetjänster |
2024-02-14 07:00:00
Crayon Group Holding ASA (OSE: CRAYN) today reported its fourth-quarter results
with a Gross Profit growth of 27% and a cash flow from operations of NOK 2.1bn.
Adjusted EBITDA ended at NOK 241m, corresponding to a margin of 15%.
"As reflected in our gross profit performance, we continue to see strong demand
for software and cloud," said Crayon CEO Melissa Mulholland. "We remain
committed to continued efficiency measures to increase profitability and net
working capital. With the increase in cloud spend and demand for AI, we are
uniquely positioned to capture market demand.
Financial highlights: Q4 2023 FY 2023
Gross Profit NOK 1 611m NOK 5 662m
Adjusted EBITDA NOK 241m NOK 919m
Cash flow from Operations NOK 2 117m NOK 1 390m
Gross profit growth remains solid driven by continuous strong performance in
both the Nordics and Europe.
Adjusted EBITDA ended at NOK 241m, reflecting a margin of 15%, a decline
compared to the same quarter the previous year. The decline is mainly due to
significant weaker market development than expected in the Consulting business.
Improving profitability in Consulting will be a key focus area going forward.
Cash flow from operations ended at a NOK 2 117m in the fourth quarter driven by
working capital changes. Crayon continues to implement measures to strengthen
working capital.
Other income and expenses include an impairment of NOK 80m related to a
franchise partnering agreement in Oman and Qatar.
For the full year of 2024 the company gives the following outlook:
2024 Medium term
Gross Profit growth 18-20% ~20%
Adjusted EBITDA Margin 18-20% Gradual increase to 25%
Net Working Capital -2.5% to -10% ~-15%
Capex will no longer be part of the company's official outlook. Capex levels
will vary based on strategic investment activities but is expected to be between
2.5% and 3% of Gross Profit over time.
The financial report and presentation for Q4 2023 are enclosed and available at
https://www.crayon.com/investor-relations/ CEO Melissa Mulholland and CFO Brede
Huser will present the results in a live webcast at 8:30 am CET that can be
accessed at www.crayon.com/investor-relations.
It will be possible to submit questions online. A recording of the webcast will
be available on-demand after the live event has concluded.
Investor contact:
Kjell Arne Hansen Head of Investor Relations
ir@crayon.com
+47 950 40 372
About Crayon: Crayon is a customer-centric innovation and IT services company
with over 4,000 team members across 46 countries. We optimize businesses' IT
estate to help them innovate with expertise they can trust. Our services create
value for companies to thrive today, and scale for tomorrow. For more
information, visit www.crayon.com.