EVRY

Good organic growth and increased profitability

(Oslo, 31 October 2014) EVRY reports organic growth of 3%, taking operating revenue to NOK 2,893 million for the third quarter of 2014. EBITA rose by 10% to NOK 215 million in the same period, which corresponds to an EBITA margin of 7.4% for the third quarter of 2014.

"We are delighted that there has been top-line growth in all segments for four consecutive quarters. This goes to show that the growth initiative EVRY has launched is well-received in the market by our customers, and this approach will remain a high priority going forward. At the same time, we are delighted with the increase in profitability this quarter. We are seeing the results of the improvement measures the company has implemented. We operate in a dynamic industry, and it is important to be able to change and adapt to the market. It is for this reason that EVRY is continuing to implement improvement measures that will make the company more competitive", comments Terje Mjøs, CEO of EVRY.

Growth program delivering results

Demand is being driven by digitalisation in society. EVRY is well positioned to benefit from this due to its significant operations in Norway and Sweden and across the Nordic region as a whole in the bank and finance segment. End-customers increasingly want more digital solutions, ideally on mobile devices. The Norwegian Government showed in its recent State Budget proposal that it will prioritise technology in its efforts to increase efficiency in the public sector. EVRY's growth program targets profitable organic growth, and emphasises the importance of industry verticals where EVRY has an unique expertise and can differentiate itself from its competitors. EVRY's detailed growth plans were presented as part of the Capital Markets day held on 11 June 2014.

EVRY signed new contracts totalling NOK 2.2 billion in the third quarter. It ended the third quarter with a continuing high order backlog of NOK 17.3 billion.

Key figures and main features of the third quarter of 2014

• Operating revenue NOK 2,893 million, representing organic growth of 3% from the third quarter of 2013
   
• All segments reported organic growth, with EVRY Sweden reporting the strongest growth of 5%
   
• EBITA of NOK 215 million (NOK 196 million in the third quarter of 2013)
   
• Earnings per share (EPS) of NOK 0.44 (NOK 0.37 for the third quarter of 2013)
   
• Cash flow from operations NOK 157 million (NOK 223 million for the third quarter of 2013)
   
• Group order backlog totalling NOK 17.3 billion at 30 September 2014 

Third quarter 2014 figures for EVRY's business areas