Data Respons ASA: Record quarter
Source: GlobeNewswire
- Solid performance across the company contributed to record revenues and results in the first half of 2019. For specialist companies like Data Respons with extensive skills in both software and hardware, the underlying megatrends of automation, connectivity (IoT) and industrial digitalisation offer many exciting technology projects, says Kenneth Ragnvaldsen, CEO of Data Respons ASA.
Operating revenue for the second quarter was NOK 432.6 million (356.6), a growth of 21%. EBITA amounted to NOK 45.0 million (31.6). EBIT was NOK 39.5 (25.3). The profit for the period was NOK 26.9 million (14.1) and EPS of NOK 0.35 (0.24). Data Respons had a cash flow from operating activities of NOK 43.2 million (55.8) in the quarter.
Operating revenue for the first half-year was NOK 884.9 million (709.5), a growth of 25%. EBITA was NOK 95.9 million (61.8). EBIT was NOK 84.8 (52.2). Operating cash flow was NOK 66.1 million (6.1).
Profitable growth – a core part of the company’s DNA
Data Respons continued its positive development during the second quarter with revenue growth of 21% and increased its results by 42% at the same time. The company is experiencing high activity levels across all geographical regions, business segments and markets, driven by the favourable megatrends of IoT, industrial digitalisation and automation.
- Focus on profitable growth is a core part of the company’s DNA, and we are continuously launching new short- and long-term initiatives to sustain this over time. Initiatives include new start-ups, technology transfer, recruitment of new talent, collaboration with universities and customer activities. With an average annual growth of 17% over the last 18 years, I think it fair to say that Data Respons is a true growth company, says Kenneth Ragnvaldsen, CEO of Data Respons ASA.
Synergies from acquisitions
- During the second quarter, the company successfully completed a capital increase of NOK 324 million through a private placement. This strengthens our balance sheet and enables us to continue our strategic ambitions. In the first week of July, we acquired two new niche specialist companies: Stockholm-based inContext and Donat Group in Germany. Both provide excellent synergies regarding customer expansion and resource cooperation, but more importantly, they add many skilled engineers with the passion to develop smarter and better products and software solutions, Ragnvaldsen continues.
Expect good development ahead
- We have seen a positive start to 2019, with revenues and profitability both reaching record levels. The market outlook remains positive and we are experiencing an increased demand from customers looking to invest in modern product platforms and more sustainable technology. Data Respons is determined to continue its growth through a combination of organic development and selective bolt-on acquisitions in the Nordics and Germany, which will strengthen our position as a complete technology partner for innovative industry and technology companies, 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 embedded solutions markets. 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 the 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 to the disclosure requirements pursuant to sections 5–12 of the Norwegian Securities Trading Act
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