(Oslo, Norway, 30.10.2019) – Zalaris ASA, the provider of Payroll and HR
Solutions that Value People, today posted third quarter revenues of NOK 190.7
million making 2019 the 19th year of uninterrupted growth within reach. 
 
Zalaris’ Q3-19 revenues reached NOK 190.7 million (NOK 176.2 million), an 8.2%
increase compared to the same quarter previous year. In terms of business
segments, Managed Services grew revenues by 2.6% year-on-year, whilst revenues
in the Professional Services segment increased by 24.3%.

Financial key figures for Q3 2019:
 • Revenue of NOK 190,7 million Q3-19, up 8,2% from NOK 176.2 million Q3-18
 • Adjusted EBITDA of NOK 29.7 million(15.6%) Q3-19 up from 10.2(5.8%) Q3-18
 • Adjusted EBIT of NOK 5.8 million (3.0%)  Q3-19 up from -5.5 million (-3.1%)
Q3-18
 • Profit for the period of NOK -6.6 million Q3-19 up from -7.3 million Q3-18
 • Total comprehensive income of NOK 1.1 million Q3-19 up from -10.1 million
Q3-18


Market wins reinforce strong position in attractive Payroll/HR Tech market 
In Q3, Zalaris closed the first UK based Managed Services deals with Barden and
ABB, representing another milestone for the company.
 
The Central European market continued its strong development. In Germany,
Zalaris signed five customer contracts during the quarter with renowned
companies such as Dräger and Eurowings. In Poland, the professional services
business experienced strong demand resulting in 9.0% revenue growth year to
date.

In Northern Europe, Zalaris secured agreements for expanding services with
existing customers to cover mobile and new HR cloud functionality.

“The HR Tech market is currently experiencing high activity levels driven by
companies moving their HR systems to the cloud and an abundance of new solutions
addressing market niches. Supported by strong investor interest ensuring record
amount of investments pouring into the sector. With our solid footprint we are
well positioned to develop our own IP as well as integrate these new solutions
into one seamless offering to our customers,” says Hans-Petter Mellerud, Zalaris
CEO and founder.


Vision 2020 - margin improvement plan to deliver 4.7 million monthly EBIT
improvement is on track
 
Key initiatives have been executed to strengthen market-facing capacity and
reduce costs.  This will materialize throughout the rest of 2019 in with about
6% net reduction of the Q1-19 workforce.

“Vision 2020 – has refocused #teamZalaris, and we are in the process of becoming
stronger and more agile than ever. We are preparing to enter 2020 on a
strengthened trajectory with renewed capacity, a more optimized cost structure
and sharper overall focus on customer value, service and business growth” says
Mellerud.


Contact
Hans-Petter Mellerud, CEO and founder
Mobile: +47 928 97 276
E-mail: hans-petter.mellerud@zalaris.com

Anders Sjåstad, CFO interim
Mobile: +47 4888 4206
E-mail: anders.sjastad@zalaris.com

About Zalaris 
Zalaris (OSLO: ZAL) ranks among Europe’s top providers of payroll and human
capital management (HCM) solutions – addressing the entire employee lifecycle,
from recruiting and onboarding to compensation, time and attendance, travel
expense and performance management. Our proven local and multi-country delivery
models include on-premise implementations, software as a service (SaaS),
integrated cloud and business process outsourcing (BPO). Zalaris’ experienced
consultants and advisors cover all industries and IT environments. For more
information, go to www.zalaris.com.