Data Respons ASA: A Record Quarter
July 13 2018 - 2:30AM
- A solid second
quarter contributed to rounding of 700 million in revenue for the
first half of 2018. The strong international growth combined with
improvements in the Norwegian operations contributed to yet another
record quarter for Data Respons, says Kenneth Ragnvaldsen, CEO of
Data Respons ASA.
Operating revenue for the second
quarter was NOK 356.6 million (311.6), a growth of 14 %. EBITDA
amounted to NOK 32.6 million (23.1). EBIT was NOK 25.3 (20.0).
Profit for the period was NOK 14.1 million (2.6) and EPS of NOK
0.24 (0.03). Data Respons had a cash flow from operating activities
of NOK 55.8 million (47.6) in the quarter.
Operating revenue for the first half
year was NOK 709.5 million (605.1), a growth of 17 %. EBITDA was
NOK 64.0 million (47.3). EBIT was NOK 52.2 (41.4). Operating
cash flow was NOK 6.1 million (31.1).
Cross-industry focus
on R&D spending
- The R&D Services segment continues the solid development with
a growth of 37 % in the second quarter, whereof 23 % was organic.
The main drivers continue to be high overall utilisation, a good
inflow of new interesting technology assignments and several larger
R&D projects. In addition, hourly rates are increasing across
the board driven by the growing demand for our types of engineering
competence.
Companies increase their development
budgets as the need to both maintain and improve existing products
in their portfolio grows, as well as making major investments in
more modern and future-oriented technology platforms in order to
keep up in the digital race. This creates a strong demand for
computer engineers and specialist companies assisting businesses
with this transformation. Most significantly, this applies to
almost all businesses and industries, says Kenneth Ragnvaldsen, CEO
of Data Respons ASA.
Improving
margins
- Revenues in the Solutions segment was lower than last year, while
profitability continues to improve. We have started a strategic
transformation process to increase focus on software content, offer
more value-add services in addition to a gradual shift in the
portfolio towards more complex, high-end solutions. In total, this
provides a more favourable revenue mix with higher margins and
growth in EBITDA, although it might influence the revenue growth
during transition period, says Ragnvaldsen.
Expect a good
development ahead
- The first half of 2018 yielded record high revenues and
profitability. The overall market outlook remains attractive and we
see growth opportunities in all our key markets. Data Respons seeks
to continue the growth through a combination of organic development
and selective bolt-on acquisitions in the Nordics and Germany to
strengthen our position as a complete technology partner for
innovative tech start-ups to blue-chip global players, Ragnvaldsen
concludes.
For further information:
Kenneth Ragnvaldsen, CEO, Data Respons ASA, tel. +47 913
90 918.
Rune Wahl, CFO, Data Respons ASA, tel. + 47 950
36 046
About Data Respons
Data Respons is a full-service, independent technology company and
a leading player in the IoT and the embedded solutions market. We
provide R&D services and embedded solutions to OEM
companies, system integrators and vertical product suppliers in a
range of market segments such as Transport & Automotive,
Industrial Automation, Telecom & Media, Space, Defence &
Security, Medtech, Energy & Maritime, and Finance & Public
Sector.
Data Respons ASA is listed on the
Oslo Stock Exchange (Ticker: DAT), and is part of the information
technology index. The company has offices in Norway, Sweden,
Denmark, Germany and Taiwan. www.datarespons.com
This information is subject of the
disclosure requirements pursuant to section 5-12 of the
Norwegian Securities Trading
DAT_Quarterly Report_Q2 2018
DAT_Quarterly Presentation_Q2 2018
This
announcement is distributed by Nasdaq Corporate Solutions on behalf
of Nasdaq Corporate Solutions clients.
The issuer of this announcement warrants that they are solely
responsible for the content, accuracy and originality of the
information contained therein.
Source: Data Respons ASA via Globenewswire
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