PRESS RELEASE
Strong growth and increasing margins start 2022 off
Knowit is starting the year off with net sales growth of 67.6 percent in the first quarter, combined with an adjusted EBITA margin of 11.5 percent. Net sales were SEK 1,695.3 (1,011.4) million and the EBITA profit, adjusted for acquisition and integration costs, was SEK 194.2 (103.3). A strong demand for Knowit’s services, combined with successful deliveries to clients, sets the tone during the first quarter of the year.
“It is gratifying to present a first quarter with high growth combined with increasing margins. The integration of the acquisitions performed in recent years has been highly successful and has helped Knowit to a position where we can gradually shift toward more complex client assignments, in which our broad platform of competencies is an important support for our clients in their digital transformations,” says Per Wallentin, CEO and President.
The development has been very positive in all four business areas during the quarter, with a high underlying demand for Knowit’s services. The business area Solutions, Knowits largest business area, has grown by around 17 percent compared with existing units during the same period last year, while also increasing its EBITA margin significantly.
In January, the acquisition of the Danish design and strategy agencies 1508 and Strømlin, with around 40 employees was finalized, which means a significantly stronger position on the Danish market. During the quarter, the integration of Cybercom has also been finalized and continued initiatives will hereafter be performed within the framework of the Group’s existing operative areas.
“On a market where demand for the kind of competence that Knowit has is high, efforts to attract new talents to the Company are a top priority. The key to our continued success consists of being an attractive workplace that offers the best possibilities of varied, educational, and developing assignments to our consultants. We have succeeded well with these efforts during this quarter,” 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 of January–March 2022 on May 2 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://tv.streamfabriken.com/knowit-q1-2022
Telephone numbers to the audiocast:
SE and EU: +46850558359
NO: +4723963938
UK: +443333009030
US: +16467224902
No advance notification is necessary. After the presentation, a recording of the webcast will be available on Knowit's website.
The information contained herein is such as shall be made public by Knowit, in accordance with the EU Market Abuse Regulation. This press release was made public through the agency of President and CEO Per Wallentin, at 7:30 AM CEST on May 2 2022.
Christina Johansson
Head of Communications