In This Article:
Company announcement no. 23/2023
Good momentum in Q3 2023
11% revenue growth in Q3 2023 including a negative impact from currencies and acquisitions of 4 percentage points. EBITDA result was DKK 21m corresponding to an EBITDA margin of 6.0% up from 5.2%. During Q3 we have prepared our next strategic journey – New Heights – with ambitious financial goals and plans to enter a new high growth industry; Life Science.
“We have a strong starting point for our newly launched three-year growth strategy New Heights with the opportunity to improve profitability significantly,” says CEO & President, Søren Krogh Knudsen
Q3 2023 highlights
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Revenue growth of 11% amounting to DKK 345m. 15% growth adjusted for acquisitions and currency.
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EBITDA amounted to DKK 21m.
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EBITDA margin was 6.0% compared to 5.2% in Q3 2022.
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Efficiency of 65% in Q3 2023, a 4 percentage point increase compared to Q3 2022.
Q3 YTD 2023 highlights
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Revenue growth of 10% amounting to DKK 1,126m. 14% growth adjusted for acquisitions and currency.
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EBITDA growth of 25% amounting to DKK 78m.
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EBITDA margin was 6.9% compared to 6.1% YTD 2022.
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Efficiency reached 67% YTD 2023, compared to 63% in Q3 YTD 2022.
Service revenue split on Business Lines
| DKK ´000 | Q3 2023 | Q3 2022 | ∆% | YTD 2023 | YTD 2022 | ∆% |
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| Dynamics | 178,636 | 157,542 | 13.4% | 566,278 | 516,463 | 9.6% |
| M3 | 64,666 | 69,749 | -7.3% | 219,978 | 228,461 | -3.7% |
| Digital Commerce | 38,116 | 40,044 | -4.8% | 146,999 | 133,007 | 10.5% |
| Data & Analytics | 18,115 | 13,294 | 36.3% | 56,200 | 42,928 | 30.9% |
| Customer Experience & Engagement | 15,468 | 9,851 | 57.0% | 46,923 | 33,916 | 38.4% |
| Security | 9,769 | 0 | - | 22,070 | 0 | - |
| Strategy & Change | 1,719 | 782 | 119.8% | 6,839 | 5,155 | 32.7% |
| Other Local Business | 3,750 | 3,003 | 24.9% | 12,322 | 11,767 | 4.7% |
| Total sale of services | 330,239 | 294,265 | 12.2% | 1,077,609 | 971,697 | 10.9% |
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| Total sale of products | 14,559 | 15,261 | -4.6% | 48,160 | 52,804 | -8.8% |
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| Total net revenue | 344,798 | 309,526 | 11.4% | 1,125,769 | 1,024,501 | 9.9% |
Service revenue split on Market Units
| DKK ´000 | Q3 2023 | Q3 2022 | ∆% | YTD 2023 | YTD 2022 | ∆% |
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| 112,317 | 107,676 | 4.3% | 405,912 | 388,521 | 4.5% |
| Denmark | 76,121 | 58,568 | 30.0% | 240,206 | 185,056 | 29.8% |
| Norway | 46,802 | 55,789 | -16.1% | 175,947 | 193,051 | -8.9% |
| UK | 61,614 | 41,085 | 50.0% | 161,356 | 119,153 | 35.4% |
| US | 23,225 | 21,209 | 9.5% | 64,584 | 59,472 | 8.6% |
| Other | 8,990 | 9,020 | -0.3% | 26,488 | 23,577 | 12.3% |
| GDC | 1,170 | 918 | 27.5% | 3,116 | 2,867 | 8.7% |
| Total sale of services | 330,239 | 294,265 | 12.2% | 1,077,609 | 971,697 | 10.9% |
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| Total sale of products | 14,559 | 15,261 | -4.6% | 48,160 | 52,804 | -8.8% |
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| Total net revenue | 344,798 | 309,526 | 11.4% | 1,125,769 | 1,024,501 | 9.9% |
Outlook 2023 maintained
Based on the development in the first nine months of 2023, our strong pipeline and order backlog, we maintain our 2023 expectations: