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Improved profitability for Data Respons
Data Respons Q1 showed improved profitability – according to CEO Kenneth Ragnvaldsen, this is due to focused efforts on the company's key markets, along with new important contracts.
Operating revenue for the 1st quarter was NOK 193 million (225). EBITDA was NOK 11.0 million (9.3) and EBIT amounted to NOK 10.0 million (8.2). The order intake for the period was NOK 227 million. Operating cash flow was NOK -2.1 million. The group's order backlog at the end of the year was NOK 672 million. Data Respons' profitability improved during the quarter, as the company has focused on its core business and has become a more cost effective organisation. Profitability development was especially positive in the services segment due to good overall utilisation and concentration on core market regions. The company's revenue declined due to the downsizing in loss making areas carried out in 2012 and some delays in solutions deliveries, the company writes in a statement. “Data Respons had a strong order intake in the first quarter and was awarded several significant contracts within our main markets such as Oil Services/Maritime, Defence, Industry and Medical. The company also signed several important contracts in Sweden, contributing to the largest order backlog (NOK 563 million) in the history of the company within the products & solutions segment,” said Ragnvaldsen. “We experience high activity levels in our areas of focus and have established a solid market position. The positive development in the services segment combined with a record high backlog within the products & solutions segment gives a good foundation to continued profitability improvement going forward,” concludes Ragnvaldsen. 1 NOK = 0.13194 EUR (Oanda, 19 April 2013)
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