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Financial results for Q1 2024 released

Press release -

Financial results for Q1 2024 released

Revenue growth of 12.2%, an operating profit margin of 5.2% – and full-year financial outlook maintained.

**Please refer to nnit.com - Investors for the full company announcement re the financial results for Q1 2024.**

CEO Pär Fors comments:

“During the quarter, we continued to see positive developments in our business performance in support of the strategic direction launched in 2023. The start of the year was impacted by macroeconomic factors leading to more cautious customer behavior in terms of expansion of engagements and winning new business. Despite this soft start to the year, we continue to see business improvements across our regions, and customer relationships remain strong supported by high customer satisfaction scores. Based on our backlog and a promising pipeline, the full-year outlook is maintained with gradual improvements expected quarter by quarter.”

Highlights

  • Total revenue growth was 12.2% compared with last year (8.0% organic) driven by Region Denmark and Region Europe, partly offset by Region US and Region Asia. The performance of our downscaled Region Asia was impacted by continuing headwind and not as expected.
  • Group operating profit excluding special items increased from DKK 20m in Q1 2023 to DKK 23.9m in Q1 2024, equal to a group operating profit margin excl. special items of 5.2%.
  • The internal projects leading to further optimization of the business are progressing according to plan, e.g. implementation of a new ERP system, relocation of offices in several locations and completion of the IT separation of the infrastructure business.

Financial overview

Outlook

The full-year financial outlook for organic revenue growth of around 10% and group operating profit margin excl. special items of 8-9% is maintained.

Full company announcement is available at https://www.nnit.com/investors-media/investors/

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NNIT is a leading provider of IT solutions to life sciences internationally, and to the public and enterprise sectors in Denmark

We focus on high complexity industries and thrive in environments where regulatory demands and complexity are high.

We advise and build sustainable digital solutions that work for the patients, citizens, employees, end users or customers.

We strive to build unmatched excellence in the industries we serve, and we use our domain expertise to represent a business first approach – strongly supported by a selection of partner technologies, but always driven by business needs rather than technology.

NNIT consists of group company NNIT A/S and subsidiaries SCALES, Excellis Health Solutions and SL Controls. Together, these companies employ more than 1,700 people in Europe, Asia and USA.

Read more at www.nnit.com

Contacts

Tina Joanne Hindsbo

Tina Joanne Hindsbo

Press contact Head of Public & Media Relations +45 3077 9578
Sofie Mand Steffens

Sofie Mand Steffens

Press contact Senior Communications Consultant +45 3077 8337

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The NNIT Group provides a wide range of IT consulting services internationally. In Denmark, where the Group HQ is based, we are one of the leading IT consultancies, servicing both private and public sector customers across all industries. In the rest of Europe, Asia and USA, we are solely focused on companies within life sciences.

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