OSLO, Norway, May 7, 2024 /PRNewswire/ -- Crayon Group Holding ASA (OSE: CRAYN) today reported its first-quarter results with a Gross Profit growth of 17% and Adjusted EBITDA at NOK 203m, corresponding to a margin of 14%.

"We have delivered a strong start to the year, demonstrating how Crayon's unique capabilities are well-aligned with the market's rising demand for software and cloud," said CEO Melissa Mulholland. "As businesses expand their IT portfolio to prepare for generative AI, more companies need software for security and productivity requirements. This, coupled with our global market reach, means we continue to see significant opportunities to increase our international growth."


     Financial highlights      Q1 2024



     Gross Profit              NOK 1 474m   Up 17%



     Adjusted EBITDA           NOK    203m  Up 10%



     Cash flow from Operations NOK      97m Up 28%

Adjusted EBITDA ended at NOK 203m, reflecting a margin of 14%. Measures to improve profitability within Consulting was implemented in Q124 and will have effect from Q2 and in the second half of the year, supporting the company's Adjusted EBITDA Outlook of 18-20% for the full year.

Cash flow from operations ended at NOK 97m. Net Working Capital ended at NOK -1.1bn, an improvement of NOK 867m compared to the same quarter previous year. Crayon continues to implement measures to strengthen working capital.

CEO Melissa Mulholland and CFO Brede Huser will present the results in a live webcast at 8:30 am CET that can be accessed at www.crayon.com/investor-relations. It will be possible to submit questions online. A recording of the webcast will be available on-demand after the live event has concluded.

Kjell Arne Hansen
Head of Investor Relations
kjellarne.hansen@crayon.com
+47 950 40 372

Melanie Coffee
VP of PR and Communications
Melanie.Coffee@crayon.com
+47 46 74 86 48

This information was brought to you by Cision http://news.cision.com

https://news.cision.com/crayon/r/crayon-reports-strong-gross-profit-growth-in-q1,c3974518

View original content:https://www.prnewswire.co.uk/news-releases/crayon-reports-strong-gross-profit-growth-in-q1-302137731.html

Tags

More Like This

Crayon reports 24% gross profit increase in Q3

Ericsson reports first quarter results 2024

Crayon Hits 3 Key Steps on AWS Winning Streak

Multiconsult first quarter and first half result 2024 - very strong performance

Caverion Corporation's Interim Report for 1 January - 30 September 2023: Solid profitability in an uncertain operating environment

Multiconsult first quarter 2024 - improved performance

Aker Solutions ASA: First quarter results 2024 - Aker Solutions delivers a solid first quarter

Interim report, January - March, 2025: Sinch AB