Zalaris' Q1/18 revenues reached NOK 186.2 million, a 75% growth compared to Q1/17. Successful go-live of existing customers in Ireland and Germany prove revenue potential in our scalable business model across regions. New contract signed with oil champion Aker BP for HR outsourcing services.
The first quarter of 2018 is marked by continued growth, new contracts, expansion of existing customers and continued efforts to integrate the acquired businesses of ROC and sumarum.
“The market is growing in segments that are particularly beneficial to Zalaris and we expect that we will be gaining from these trends. We are growing our business both organically and with our new colleagues from ROC and sumarum”, says Hans-Petter Mellerud, Zalaris’ CEO and founder
Zalaris’ Q1/18 revenues reached NOK 186.2 million (NOK 106.4 million), a 75% growth compared to the same quarter previous year. The organic growth was 2.4% in Q1/18 vs Q1/17.
Group operating profit Q1/18 was NOK 11.3 million, representing a 6.1% margin (NOK 10.7 million and 10.1%). Integration efforts have affected all business segments in Q1/18. However, these efforts, expected to continue to mid-2018, are supporting short and long-term growth prospects.
“Our financial results continued the trend from previous quarters, with revenues up more than NOK 80m compared to the first quarter previous year. Integration activities across acquired businesses are progressing well. Earnings were however only slightly improved since integration activities affected the first quarter, as earlier announced.”, Mellerud says.
Growing with customers
Zalaris have in the first quarter of 2018 expanded into Ireland with Circle K, a long-term customer in the Nordics, and with Statkraft new services are provided in Norway, Sweden, UK and Germany. Q1/18 Zalaris also signed with Aker BP as we will be working together with them to build a state-of-the art human capital management system for the oil and gas company.
“Our main theme going forward will be to grow with our customers as we continue to service them and offer even better, broader and more valuable services. I am pleased to see several examples of just that”, Mellerud says.
UK and Ireland, which were included in our offerings in Q4/17, grew in all segments compared with previous quarter. The region launched its first customer both within the HR Outsourcing segment and in Ireland in the quarter.
“With our expansion into central Europe, UK and Ireland we are positioning Zalaris as a leading provider of advanced consulting and outsourced human capital management and payroll services in regions characterized by significant growth”, says Hans-Petter Mellerud, Zalaris’ CEO and founder.
The revenues within the Nordics & Baltics region had growth both within the HR Outsourcing and Cloud segment through the launch of new customers compared with the same quarter previous year.
Hans-Petter Mellerud, CEO and founder
Mobile: +47 928 97 276
Nina Stemshaug, CFO
Mobile: +47 982 60 394
Zalaris excels in delivering comprehensive cloud- based HR and payroll services. The company 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, Sweden, Germany, Spain, the UK and Ireland including local-language service centers with extensive expertise in HR- related laws and regulations. Learn more about Zalaris at www.zalaris.com