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Electronics Production | January 27, 2010

Data Respons - Signs of improvement in the markets

2009 has been a challenging year, but towards the end of the year we have seen signs of improvement.
- This is confirmed by increased order intake in all countries. Furthermore we have in 2009 taken actions to make the company more efficient and focused, which gives us reason for optimism going forward, says Kenneth Ragnvaldsen, CEO of Data Respons ASA.

The Group's operating revenue in the fourth quarter was NOK 170.8 million, a decrease of 31% from the same period last year. EBITDA was NOK 4.1 million, and EBIT NOK 2.1 million. Order intake during the quarter totalled NOK 182 million, and cash flow from operating activities was NOK -0.3 million in the quarter.

The Group's operating revenue for 2009 was NOK 726.1 million, a reduction of 11% compared to 2008. EBITDA was NOK 14.4 million, adjusted for one-off expenses of NOK 35.0 million from Q2-09. Cash flow from operating activities was positive with NOK 3.8 million in 2009. The order backlog was NOK 425 million at the end of the year.

- From the third to the fourth quarter the order intake increased by 58% to NOK 182 million as a result of a positive development for all the countries towards the end of the year. Going into 2010 we also see that the "pipeline" of larger and long-term solutions contracts is increasing, says Ragnvaldsen. This is an indication that the market conditions are improving.

- Now that the markets are improving, we will see companies invest in development and new opportunities, while maintaining a focus on cost control, says Ragnvaldsen. That is why I believe that more companies will choose to enter into strategic partnerships for development and deliveries, instead of doing everything themselves. Data Respons is very well positioned in this respect, with a complete value chain and cost effective solutions helping our customers to be more competitive.

- During 2009 we have implemented a series of initiatives making us more effective and focused, and as a result we have increased our competitiveness. The company is lean, our staff is alert, and we are again ready for new and large opportunities. We are expecting profitable growth in 2010, says Ragnvaldsen.

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