Increased net sales and retained profitPublished 23 Oct 2019
In the third quarter 2019, Knowit is increasing its net sales and retaining its profit. Net sales increased by 7.2 percent to SEK 708.6 million. The EBITA profit was SEK 56.3 million and the EBITA margin was 7.9 percent. Cash flow from operating activities was strong and increased to SEK 122.1 million.
Knowit's business area Solutions has a positive development on a market that remains strong, with increased net sales, profit and margin. The business area Experience increased its net sales, even if the margin has not developed as positively. Within the business area Insight, Knowit has met with a more hesitant market after the summer, and the extent of a few larger client projects has suddenly and unexpectedly decreased. This has meant a slightly lower debit ratio and thus lower net sales, profit and margin up within the business area.
Knowit has a continued positive growth and has during the quarter had a net recruitment of around 100 new employees, primarily in the business area Solutions.
“Overall, I still have a strong belief in our capacity for continued growth with high profitability,” says CEO Per Wallentin.
For the nine-month period, net sales increased by 9.4 percent, to SEK 2,426.9 million. The EBITA profit increased by 3.3 percent to SEK 222.0 million and the EBITA margin was 9.1 percent. Cash flow increased to SEK 190.9 million.
“We continue to reinforce our position as an important partner in our clients’ digital transformations and have during the quarter delivered several innovative solutions that contribute to our vision of a sustainable and humane society. I am proud that Knowit contributes in creating true societal benefits and believe it is an important contributing reason that we remain an attractive employer,” says Per Wallentin.
For detailed information on the outcome for the third quarter, please see the interim report available here.