NNIT NNIT A/S

NNIT A/S: REVENUE GROWTH OF 12.2% AND 5.2% OPERATING MARGIN. FULL-YEAR FINANCIAL OUTLOOK IS MAINTAINED

NNIT A/S: REVENUE GROWTH OF 12.2% AND 5.2% OPERATING MARGIN. FULL-YEAR FINANCIAL OUTLOOK IS MAINTAINED

Q1 2024 key highlights

  • The first quarter results were as planned on an overall level. Organic revenue growth of 8.0% driven by Region Denmark and Region Europe partly offset by Region US and Region Asia. The performance of our downscaled Region Asia was impacted by continuing headwind and not as expected. Total revenue growth was 12.2% compared with last year.
  • The group operating profit excluding special items increased from DKK 20m in Q1 2023 to DKK 23.9m in Q1 2024, equal to a group operating profit margin excl. special items of 5.2%.
  • The internal projects leading to further optimization of the business such as implementing a new ERP system, relocation of offices in several locations and completion of the IT separation of the infrastructure business, are progressing according to plan.
  • The full-year financial outlook for organic revenue growth of around 10% and group operating profit margin excl. special items of 8-9% is maintained.

During the quarter, NNIT continued to see positive developments in its business performance, which fully supports the strategic direction initiated last year even though the start to the year was impacted by macroeconomic factors leading to more cautious customer behavior in terms of expansion of engagements and winning new business. Although some of this was anticipated, the performance in Region Asia was not as expected and significant actions have been taken to reduce capacity and regain profitability.

Despite a soft start to the year which was also impacted by timing of Easter, the strategic focus of NNIT remains intact. NNIT continues to see business improvements across its regions, and customer relationships remain strong supported by high customer satisfaction score. NNIT is closing in on several important milestones such as the introduction of a new global IT platform, relocation to new offices and integration of group companies during 2024.

As a consequence, supported by the backlog and a promising pipeline, the full-year outlook, is maintained with gradual improvements expected quarter by quarter.

Financial overview – Selected key figures

NNIT A/S, DKK millionQ1 2024Q1 2023FY 2023
Revenue463.44131,728
Revenue growth, %12.2%16.0%15.2%
Revenue growth, organic %8.0%11.3%10.8%
Group operating profit excl. special items23.920116
Group operating profit margin excl. special items, %5.2%4.8%6.7%
Special items11.3-14-69
Group operating profit incl. special items35.2647
Group operating profit margin incl. special items, %7.6%1.4%2.7%

 

CONFERENCE CALL

May 7, 2024, at 2:00 PM CEST: 

Dial in information:

DK:

SE:

UK: 9

US:

Participant Access code: 131987

For more information, please contact:

Investor Relations

Carsten Ringius

EVP & CFO

Tel:

Media Relations

Tina Joanne Hindsbo

Media Relations Manager

Tel:

 

ABOUT NNIT

NNIT is a leading provider of IT solutions to life sciences internationally, and to the public and enterprise sectors in Denmark.

We focus on high complexity industries and thrive in environments where regulatory demands and complexity are high.

We advise on and build sustainable digital solutions that work for the patients, citizens, employees, end users or customers.

We strive to build unmatched excellence in the industries we serve, and we use our domain expertise to represent a business first approach – strongly supported by a selection of partner technologies, but always driven by business needs rather than technology.

NNIT consists of group company NNIT A/S and subsidiaries SCALES, Excellis Health Solutions and SL Controls. Together, these companies employ more than 1,700 people in Europe, Asia and USA. Read more at

 

Attachment



EN
07/05/2024

Underlying

To request access to management, click here to engage with our
partner Phoenix-IR's CorporateAccessNetwork.com

Reports on NNIT A/S

ABGSC IT Research ... (+2)
  • ABGSC IT Research
  • Mikkel Kousgaard Rasmussen
 PRESS RELEASE

NNIT A/S: A CHALLENGING THIRD QUARTER. NECESSARY ACTIONS TAKEN TO IMPR...

NNIT A/S: A CHALLENGING THIRD QUARTER. NECESSARY ACTIONS TAKEN TO IMPROVE PERFORMANCE IN 2024 AND LONG-TERM Q3 2024 key highlights Financial performance for the third quarter was unsatisfactory. Some areas of the business did not perform as initially planned in Region US and Region Europe which negatively impacted the performance. Organic growth was negative by 1.6% and total revenue growth was negative by 1.7%. In Q3 2023, Region DK revenue was impacted by a positive technical one-off due to the carve-out of around DKK 15m as a revenue accrual was released in the quarter despite being re...

 PRESS RELEASE

NNIT A/S: Publication of financial estimates gathered from equity anal...

NNIT A/S: Publication of financial estimates gathered from equity analysts covering the NNIT share Today, NNIT has published financial estimates gathered from the four equity analysts covering the NNIT share ahead of the Q3 2024 announcement scheduled for publication on November 5. As a new practice, the estimates will be made available on NNIT’s investor site and announced one week before the quarterly announcement. The estimates can be found here: NNIT will host a webcast about the Q3 2024 announcement on November 6 at 9:30 CET. Details can be found via this link: For more informati...

ABGSC IT Research ... (+2)
  • ABGSC IT Research
  • Mikkel Kousgaard Rasmussen
ABGSC IT Research ... (+2)
  • ABGSC IT Research
  • Mikkel Kousgaard Rasmussen

ResearchPool Subscriptions

Get the most out of your insights

Get in touch