Beskrivning
| Land | Norge |
|---|---|
| Lista | Euronext Growth Oslo |
| Sektor | Informationsteknik |
| Industri | Programvara |
2023-05-12 08:00:00
Oslo, Norway, 12 May 2023: Today, CSAM Health Group AS (CSAM), a leading
provider of specialised software for healthcare, published its results for the
first quarter of 2023.
CSAM Health Group continues to grow and in Q1-23 the company broke the
triple-digit revenue mark, delivering NOK 102 million - an increase of 7% over
Q1 last year. Recurring revenue grew 18% to NOK 79 million, which indicates that
annual recurring revenue will surpass NOK 300 million in 2023.
CSAM CEO Sverre Flatby highlights the development: "CSAM's business model, with
long-term relationships with healthcare providers and emergency response
organisations, again shows its underlying strength. We see continuous growth in
recurring revenue, which was 78% of total revenue this quarter."
CSAM delivered an EBITDA margin of 5% for the quarter, and Q1-23 cost levels
reflect the initial effects of the ongoing cost-reduction programme that aims to
reduce costs by NOK 60 million annually.
"Breaking the 100 MNOK revenue mark this quarter, while showing a reduced cost
run-rate, gives comfort that our organic business is on track. We are confident
that we will continue to drive growth while improving profitability," said
Flatby.
Highlights from the report:
o Q1-23 total income 102 MNOK vs 96 MNOK in Q1-22
o Recurring revenue grew 18% to 79 MNOK (Q1-23 vs Q1-22), and reached 78% of
total sales
o Reported EBITDA was 5 MNOK resulting in a 5% EBITDA margin
o Q1-23 organic growth of 6% vs Q1-22 in local currency (9% in NOK)
o The 60 MNOK cost-saving programme executed according to plan in Q1-23
For more information, please contact:
Einar Bonnevie
Chief Financial Officer
+47 91 55 45 32
einar.bonnevie@csamhealth.com
About CSAM
CSAM Health Group is the leading provider of specialised software for healthcare
in the Nordics. From this solid foundation the company has grown to serve more
than 500 customers in 27 countries. Our highly specialised software solutions
are instrumental in the clinical care processes of healthcare providers and in
enabling emergency responders to enhance public safety. CSAM's headquarters are
in Oslo, Norway. CSAM has almost 300 dedicated specialists in ten countries
across Europe, Asia, Oceania and North America, including a wholly-owned
software engineering subsidiary in the Philippines.
For more information, visit www.csamhealth.com
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