Successful integration of acquisitionPublished 29 Apr 2021
Knowit starts off the year by increasing net sales and operating profit compared within the corresponding quarter of 2020. Net sales increased by 8.0 percent to SEK 1,011.4 (936.3) million and the EBITA profit increased to SEK 103.3 (95.5) million. The integration of Creuna has already shown results. The net sales and profit in the business area Experience increased significantly.
For the business area Solutions, we see a somewhat weaker quarter than in the previous year, but demand remains strong. The business area Insight has had a positive development, with improved profit. It is the streamlining performed in the past year that is having a positive effect.
In late March a year ago, demand slowed down due to the outbreak of COVID-19. Knowit managed to quickly adapt its operations to the new conditions and despite the ongoing pandemic, the market remains good.
“The integration of Creuna has been successful and we are seeing clear synergy gains. Experience has increased its net sales and profit by around 40 percent. Our offer has been strengthened through the acquisition and we have won several new client projects,” says Per Wallentin, CEO and President of Knowit.
Demand remains very strong, particularly in areas like e-commerce and security.
“The business area Solutions continues to have a strong position. In Sweden, capacity utilization is high and the development of net sales and profit is positive. In Norway, a few larger projects had their final deliveries before the turn of the year, which led to some idle capacity. During the quarter, several new assignments have been initiated, including in the public sector, which has contributed to a gradually increased capacity utilization” says Per Wallentin.
“Our delivery capacity, our specialists, and our position mean that we are well-equipped for the day when society shifts back to normal. I look to the future with confidence,” says Per Wallentin.
For detailed information on the result for the first quarter, please refer to the Interim Report available on the website.
Knowit has issued an invitation to a presentation of the Interim Report January–March 2021 on April 29, 2021, at 10:00 AM. The presentation will be held in English. Link to the presentation: https://tv.streamfabriken.com/knowit-q1-2021
Telephone numbers for the conference call
Sweden and other EU countries: +46850558368
No advance notification is necessary. After the presentation, a recording of the webcast will be available at: https://www.knowit.eu/investor-relations/reports--presentations/