Zalaris delivers a revenue growth of 22 percent in the year’s first nine months compared to the same period in the previous year. The company strengthens its client portfolio with a new contract with Norwegian Railways (NSB).
Zalaris, a leading provider of payroll and HR services, continues to deliver strong quarterly results. In the third quarter, the company saw a revenue increase in all segments resulting in overall revenue growth of 10.7 percent compared with Q3 2014 – for a total of NOK 92.6 million. Year to date, Zalaris has delivered a revenue growth of 22 percent compared to YTD 2014.
The EBIT for the third quarter was NOK 6.3 million, corresponding to an EBIT margin of 6.8 percent (9.9 percent in Q3 2014). The results are affected by timing of vacation and seasonal variations.
“We are proud of continuously delivering on our growth strategy. In addition, we experience positive developments across our entire organization and we are excited to open our new service center in India with 50 new colleagues”, says Hans-Petter Mellerud, CEO and founder of Zalaris.
Zalaris is serving 190,000 employees with its payroll and HR services, including some of the largest companies in the Nordic region. The total amount of employees covered by Zalaris’ solutions is 15 percent higher at the end of this quarter compared to the same period in the previous year. The strong growth is driven by new clients such as Statoil, TeliaSonera and Ericsson. In addition, Zalaris is chosen to deliver HR and payroll services to approximately 6000 employees in the Norwegian Railways Group.
“As it is our first agreement with a state-owned company - a market with large potential for outsourced solutions - this is also an important milestone for Zalaris. Our investments in business development capacity are starting to pay off in terms of increased interest from potential new customers”, Mellerud comments.
Zalaris has been nominated for the “Rising Star” award at the annual European Small and Mid-Cap Awards to be held on December 9th in Brussels. The awards are arranged by the FESE (Federation of European Securities Exchanges) and European Issuers in cooperation with the EU Commission.
“We are proud of the nomination and feel strongly that this is recognition of our growth strategy. Zalaris has delivered significant growth in all quarters since the IPO on Oslo Børs”, Mellerud says.
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.