Strong profitability improvement in Q3 for Data Respons

Operating revenue for the third quarter was NOK 231.2 million (225.7), a growth of 2 %. EBIT amounted to NOK 17.3 million (13.8). Operating cash flow was NOK 8.6 million (13.1). Order intake for the quarter was NOK 186 million (177).

Operating revenue for the first nine months was NOK 738.0 million (695.4), a growth of 6 %. EBIT was NOK 45.8 million (41.5). Operating cash flow was NOK 32.9 million (30.5). Order intake for the the first nine months was NOK 794 million (689). The group’s order backlog at the end of the quarter was NOK 755 million (707).

Strong momentum in R&D Services
– The positive development in the R&D Services sector continues, underlined by a growth of 31 % for the first nine months. Both the Norwegian and our international operations have experienced increasing numbers of new assignments and innovative projects as well as having a high utilisation and a record high EBIT margin for the quarter. Both large blue-chip companies as well as start-up’s focus their product development towards new opportunities within industrial digitalisation, Ragnvaldsen says.

Strengthened position within industrial digitalisation and IoT
– With the acquisition of MicroDoc, we strengthen us within several key strategic areas at one time. It gives us a big boost in SW development capabilities, IoT and digitalisation for the group as a whole. We get a strong foothold in Germany within R&D Services with further offices in Munich, Berlin and Stuttgart. Last, but not least, it gives us access to a strong customer portfolio with recurring business in markets such as Automotive, Smart grid/Smart home, Banking/Insurance, IoT and Industrial Automation, says Kenneth Ragnvaldsen, CEO of the Data Respons group.

Expect a good development ahead
– The year has shown growth, improved profitability and a healthy cash flow so far. The positive development in the R&D Services sector compensate for the demanding Oil & Gas and Maritime markets in Products & Solutions. Overall, the group has high activity levels and a solid order reserve, which provides a good foundation for 2016, Ragnvaldsen concludes.