High demand and improved resultsPublished 15 Jul 2022
Knowit is seeing continued strong demand during the second quarter with net sales increasing by 59.1 percent, combined with adjusted EBITA growth of 42.9 percent. Net sales are SEK 1,644.7 (1,033.7) million and the EBITA profit, adjusted for acquisition and integration costs, is SEK 140.5 (98.3) million. Knowit remains a driving force in the consolidation on the Nordic consultancy market and has announced three new acquisitions in Denmark, Finland, and Sweden during the quarter.
“I am very proud of our development over the first six months of 2022. Demand for our services is very high, which also creates high mobility on the job market. We are succeeded in attracting new, skilled individuals to Knowit and have a positive recruitment trend. This is a key for Knowit to be able to continue developing well in the current market situation,” says Per Wallentin, CEO and President.
Development has been positive in all four business areas. The business areas Experience and Connectivity stand out in particular with strong growth, combined with stable margins. Growth in Experience was 12.2 percent and that in Connectivity was 14.8 percent.
The Nordic consultancy market is characterized by consolidation and as one of the leading players, Knowit is actively participating in this trend. During the quarter, three new acquisitions have been announced, which strengthens the Company further as regards both competence and geography. Danish Miracle, with 130 employees, provides Solutions with a significantly stronger position in Denmark. The management consultancy firm Marketing Clinic, with 60 employees, increases Insight’s presence on the Finnish market, and Swedish Swedspot, with 40 employees, is strengthening Connectivity’s position in relation to the Swedish vehicle industry.
“An important part of our strategy is combining sound organic growth with acquisitions and during the past few years, we have performed a number of larger and smaller acquisitions strengthening our presence in the Nordic region. Thanks to successful integration of these companies, combined with good organic growth, Knowit is now a well-positioned player that can take on more complex client assignments, where our broad platform of competence is important support for our clients in their digital transformation,” says Per Wallentin.
For more detailed information on the results of the first quarter, please see the Interim Report available on the website and attached to this press release.
Presentation of the interim report
Knowit will hold a presentation of the Interim Report for January–June 2022 on July 15 at 10 AM. The presentation will be held in English. President and CEO Per Wallentin and CFO Marie Björklund comment on the results and answer questions.
Link to the audiocast: https://www.investis-live.com/knowit/62bae4cad943801400094b64/knq2
Phone number for the audiocast:
Denmark 80 82 00 35
Denmark (Local) 89 87 50 45
Finland 075 3252542
Sweden 0200 123 717
Sweden (Local) 010 884 80 16
Norway (Local) 81 503 308
Norway 800 24 973
United Kingdom 0800 640 6441
United Kingdom (Local) 020 3936 2999
All other locations +44 20 3936 2999
PIN code: 265589
No advance notification is necessary. After the presentation, a recording of the webcast will be available at https://www.knowit.eu/financial-information/
The information contained herein is such as shall be made public by Knowit, in accordance with the EU Market Abuse Regulation and the Securities Market Act. This press release was made public through the agency of President and CEO Per Wallentin, at 7:30 AM CEST on July 15 2022.