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Continued Strong Growth in Zalaris in Fourth Quarter

Press Release   •   Feb 26, 2015 08:00 GMT

Outsourcing payroll and HR-services is a continuing and increasing trend in the Nordic markets, leading to continued growth for Zalaris. In the fourth quarter 2014, revenue increased by 34.8 per cent compared to the same quarter in 2013. The board recommends a dividend of NOK 0.75 per share for 2014.

Zalaris, a leading provider of payroll and HR services, continued its strong growth both in the fourth quarter and for the year as a whole. Revenues increased to 97.3 million kroner in the quarter and 326.1 million kroner for the year, representing a growth of 24.4 per cent for the year. Fourth quarter revenue increase was in part due to change orders and services related to year-end.

“Zalaris completed its first fiscal year as a publicly traded company with solid performance and results in line with our high ambitions. Recurring revenue from our Outsourcing business unit continued to be the main source of revenue growth”, says Hans-Petter Mellerud, CEO and founder of Zalaris.

The operating profit was 12.1 per cent for the quarter compared to 14.0 per cent for the same quarter last year, before one-off and IPO-related costs. For the year as a whole, the operating profit increased to 9.7 per cent, an increase from 9.4 per cent last year.

The Board of Directors in Zalaris recommends dividend of 0.75 NOK per share corresponding to 49.8 per cent of EBT before one-off costs. This is in line with dividend policy.

Zalaris expects that growth will continue. In addition to Zalaris’ SAP Payroll Solution going live in Latvia, a Swedish Global Fortune 500-company selected Zalaris as their Nordic HR and Payroll outsourcing partner for approximately 20.000 employees.

“We are experiencing increased interest from large blue-chip organisations that look for innovative ways to deliver cost-effective services and, at the same time, serve their employees with efficient processes. We see this as a strong indication that growth is likely to be a long-term trend, as outsourcing as an integrated services model continues to increase”, says Mellerud. 

Zalaris is certified as a SAP Business Process Outsourcing (BPO) Partner and is a leading SAP Human Capital Management (HCM) and SuccessFactors consulting partner. Founded in 2000, Zalaris today operates in Denmark, Estonia, Finland, India, Latvia, Lithuania, Norway, Poland and Sweden, including local-language service centers with extensive expertise in HR-related laws and regulations.

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