Data Respons ASA: Strong international growth for Data Respons
October 19 2017 - 2:30AM
- The strong international growth contributed to
record high revenues for the quarter. An increasingly data driven
world emphasises the R&D focus amongst our customers and offers
several exciting technology projects for our specialists, says
Kenneth Ragnvaldsen, CEO of Data Respons ASA.
Operating revenue for the third
quarter was NOK 283.3 million (231.2), a growth of 23 %. EBITDA
amounted to NOK 24.1 million (18.3). EBIT was NOK 21.0 (17.3).
Operating cash flow was NOK 13.9 million (8.6). Order intake for
the period was NOK 219 million (186).
Operating revenue for the first
nine months was NOK 888.3 million (738.0), a growth of 20 %. EBITDA
was NOK 71.4 million (48.9). EBIT was NOK 62.4 (45.8).
Operating cash flow was NOK 45.0 million (32.9). Order intake for
the period was NOK 915 million (794). The group's order backlog at
the end of the quarter was NOK 738 million (755).
Strong international
growth
- Solid development in our international business units is driving
this quarter's growth. Sweden remains the largest geographical
market counting for 48 % of revenues YTD, however Germany offers
the highest growth. Data Respons' revenues in Germany, so far this
year, has surpassed Norway - which is still impacted by challenging
market conditions. We see several promising growth opportunities in
years to come - both organic and through selective acquisitions.
Considering the underlying market size, Germany has the potential
to become the largest geo-market for Data Respons in some years. In
Germany, we are involved in smart home concepts, modernisation of
SW platforms within the banking industry and several interesting
projects within the automotive industry - an industry which is
becoming more SW oriented, connected and digitalised, says
Ragnvaldsen.
A data driven
world
- We have good progress in R&D Services and Solutions in the
quarter, growing at 25 % and 20 % respectively. The key growth
driver is the ongoing digital transition across all market
verticals. Most products and solutions, from the simple sensor to
the modern truck have more built-in logic, increased SW content and
are connected in a more efficient way. This facilitates a data
driven world, enabling new service driven business opportunities
and/or lower costs. As complexity increases, there is a growing
need for product development. This in turn increases the demand for
our specialist's competence and our hands-on experience from
developing advanced embedded solutions in cars, robots or smart
homes, says Kenneth Ragnvaldsen, CEO of Data Respons.
Expecting good
development ahead
- This year has so far proven solid growth, improved profitability
and strong cash flow from operations. Our customers, from the
established industrial companies to start-ups are increasing their
focus on new development and upgrades of existing products,
platforms and system solutions. Favorable market conditions, high
activity and a robust order backlog provides a good foundation for
continued strong development going forwards, 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 Medical, Industry
Automation, Smart grid/Smart home, Bank and
Insurance, Automotive, Defence, Maritime, Energy and
Telecommunications.
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_QuarterlyReport_Q3_2017
DAT_Presentation_Q3_2017
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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