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Norway : Record order inflow in the second quarter

July 17, 2014

EVRY signed new contracts totalling NOK 5.2 billion in the second quarter of 2014, and closed the quarter with its order backlog at an all-time high of NOK 18.4 billion. Operating revenue for the second quarter of 2014 totalled NOK 3,296 million, equivalent to organic growth of 2%, while EBITA for the quarter of NOK 180 million was in line with the same quarter last year.

"We have signed a number of important contracts this quarter, particularly in the bank and finance segment, which are strategically important for our long-term growth strategy. In addition to growing our revenue, we are continuing our program of work to improve organisational efficiency, and this will help to strengthen our profitability in the future", comments Terje MjØs, CEO of EVRY.

Growth in all segments EVRY reports revenue growth in all its reporting segments for the third quarter in a row. Strong demand for mobility solutions meant that EVRY Sweden reported 6% organic growth, which is a substantial improvement from previous quarters.

EVRY Financial Services signed contracts in the second quarter representing total contract value of NOK 3 billion. The two largest contracts are with the SpareBank 1 Alliance and Sparebanken Vest, making them EVRY's first customers for the next generation of core banking and payment solutions. Both of these customers will migrate to the new solutions over the course of the new contract period. This gives EVRY a foundation for further growth in an important area for banks throughout the Nordic region.

EVRY's order backlog at the close of the second quarter was NOK 18.4 billion, which is the highest level the company has ever reported.

Key figures and main features of the second quarter of 2014 Operating revenue of NOK 3,296 million, representing organic growth of 2% from the second quarter of 2013, All segments reported organic growth, EBITA of NOK 180 million (NOK 179 million in the second quarter of 2013), Cash flow from operations of NOK 136 million (NOK 104 million in the second quarter of 2013), The group's order backlog amounted to NOK 18.4 billion at 30 June 2014, an increase of NOK 1.9 billion from the close of the first quarter of 2014.

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Source: TendersInfo (India)

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