Knowit presents a strong third quarter. Profitability is improving with retained net sales, despite a decrease in the number of employees. Knowit is now taking the next step towards a simpler and more cost-effective structure. With a new country-based organization, Knowit will be closer to clients, while complexity decreases and a sharper offer is created, where AI is an integrated part of both client projects and the Company’s operations. The net sales of the quarter were SEK 1,219 million, with an adjusted EBITA margin of 6.7 percent.
“The quarter shows what we can do when sales, growth, utilization, and costs are developing in the right direction. The next step is building on the improvement and getting stronger development throughout Knowit. I have great faith in the collected ability at Knowit. Together, the new management team and all our employees will ensure that we succeed with the transformation journey and become an even stronger partner to our clients,” says Fredrik Walde Ekerhovd, CEO and President at Knowit.
Developments differ greatly across the different markets. Norway is developing strongly, whereas Sweden is still challenges in several parts of the operations, as regards both utilization and a continued need to adapt the organization. Finland has the most challenging market situation as a result of a weaker economic climate than the rest of the Nordics. In Denmark, improved profitability can be seen in parts of the operations The business area Products is delivering both growth and improved profitability during the quarter. The combination of in-house-developed platforms and IP-based consultancy services makes it possible to reuse solutions, scale the business, and build long-term revenue.
“We are increasing the pace in the work of both adapting our organization and developing our offers. AI creates new opportunities for Knowit. Many clients have tested out the technology and now want to go from testing to operations, with impact on their core operations. This requires modern systems and a stable foundation of data, as well as new work methods and an operation that is ready to transform. Here, we can support clients every step of the way,” concludes Fredrik Walde Ekerhovd.
For more detailed information on the results of the third quarter, please see the interim report available on the website and appended to this press release.
Presentation of the report
Knowit will be holding a presentation of the Interim Report today, Friday October 23. President and CEO Fredrik Walde Ekerhovd and CFO Marie Björklund comment on the results and answer questions.
The report will be available at https://www.knowit.eu/financial-information/
The presentation starts at 10.00 am (CEST) and will be held in English.
Link to webcast
Link to tele conference
No advance notification is necessary. After the presentation, a recording of the webcast will be available at https://www.knowit.eu/investor-relations/reports-presentations/.