Continued growth in a new structurePublished 22 Oct 2021
Knowit delivers increased net sales with a stable result, while the quarter has been shaped by the integration of the Cybercom operations. Knowit increases net sales during the quarter to SEK 1,190.9 (661.4) million and delivers an EBITA profit of SEK 105.4 (58.5) million, adjusted for one-off costs related to the acquisitions. In parallel with the integration efforts, a strong focus has been on sales and recruitment of new employees.
Market activity has been high during the quarter, with strong underlying demand and a positive net recruitment. Increased workforce mobility after the pandemic has impacted on our personnel turnover, but has also increased the possibilities to recruit new employees for existing and new client assignments.
Solutions is the business area that has been affected most by the integration efforts. This makes it particularly gratifying to note that the two largest markets, Sweden and Norway, are showing a strong positive development, with high sales growth during the quarter.
During this quarter, the business area Experience has finalized the integration of Creuna, which was acquired in December 2020. Experience increased net sales during the quarter, with high levels of new orders, but the profit has been affected by increased personnel turnover and a need for new recruitment.
Connectivity, Knowit’s new business area after the acquisition of Cybercom, has been welcomed by both clients and employees. Activity has been high, with a number of large assignments in the tech and telecom sectors and in the vehicle industry creating strong possibilities going forward.
For the management consultancy operations in the business area Insight, the positive development is continuing with improved profit and a higher margin. The security area continues to stand out, with demand being very high.
“When I summarize the quarter, I can conclude that we have managed to both keep a focus on our business and simultaneously perform a large operative integration, showing that Knowit is a player than can continue to take market shares in a sustainable manner. This makes me proud and creates hope for the future,” says President Per Wallentin.
For more detailed information on the results for the third quarter, please see the Interim Report available on the website.
Knowit hereby issues an invitation to a presentation of the Interim Report for January–September on October 22 2021 at 10 AM (CEST). The presentation will be held in English. Link to the presentation: https://tv.streamfabriken.com/knowit-q3-2021
Telephone numbers for the conference call
SE and other EU countries: +46856642695
NO: +47 23500243 PIN: 77918716#
No advance notification is necessary. After the presentation, a recording of the webcast will be available at: https://www.knowit.se/ir/rapporter--presentationer/