Interim report January-March 2015Published 28 Apr 2015
We have started off 2015 by increasing net sales as compared with the corresponding quarter in 2014. The result for the first quarter is affected by a positive one-time effect from the sale of Knowit Services. The underlying result is on par with that of last year, despite fewer billable hours this quarter.
Demand is similar with that of previous quarters. It is strong in Norway, stable in Sweden and remains weak in Finland. The operations in Sweden continue the positive development of the last quarter, with increased net sales and results. In Norway, we have not seen the full effect of the newly acquired companies yet, but net sales have increased. It is particularly gratifying that our operations in Finland have improved their results significantly and can present a positive result.
In order to improve the added value for our clients, we have increased the collaboration between our specialist companies in design & digital, management consultancy and IT services. This provides more efficient deliveries and increased competence transfer in all offerings.
Increased efficiency We are developing Knowit by investing where we see a positive trend, combined with performing actions where the operations show weak development. Over the first quarter, we have established operations in decision support in Copenhagen and cloud services in Stockholm.
We have made the decision to close down our company in Västerås, Knowit Mälardalen, which has low profitability. The closing down will be performed during 2015 and clients are offered deliveries from other Knowit companies.
High marks It is becoming increasingly important for companies to take responsibility for their effects on society. Both clients and employees expect us to act responsibility in matters relating to the environment, work conditions and ethics. Knowit has participated in a large supplier evaluation of social responsibility. Pleasingly, we got very high marks in the environment field and were aboveaverage in the other fields.
Knowit continues to be one of the most popular consultancy companies among IT students in the Nordic region. This year’s surveys from Universum, where Swedish and Norwegian IT students rank their favorite employers, show that we have a strong employer brand. Once again, we are one of the most popular companies, with only a few international consultancy firms ahead of us. Knowit is known for being a good workplace, providing each employee with large opportunities for development in an environment of high competence and stimulating assignments. This is how we attract the best employees.
25 years of development This year, Knowit has been in operation for 25 years. The company was founded on April 1 1990, with three employees. At that time, few people talked about IT. EDP was the term of the day. Today, we have over 1,800 employees in six countries and the term EDP best belongs at the Antiques Roadshow. From the start, Knowit strived to create a company with high competence, continual development and the ability to make quick decisions. This is our past, our present and our future.
We now have 1,200 specialists in IT, 450 in design & digital offering services in digital marketing and web solutions, and 200 management consultants. Their ability to understand the operations of the clients and our offerings in the interface between technology, design and operational governance gives us deals in the part of the market that is growing fastest.
Knowit operates on a market that is constantly developing, with new purchasing patterns, a changed competitive situation and increased technological maturity. Deep specialist knowledge and insight into our clients’ operations and needs gives us the prerequisites for continued success. Together, we take responsibility to develop our clients, our company and value for shareholders. This makes for a promising future for Knowit.
Per Wallentin, CEO and President
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