Electronics Production | April 22, 2009
Data Respons growing in Norway and Germany, implements cost reductions in Denmark
Data Respons started the year with a revenue growth of 25% in the first quarter. Extraordinary costs in Denmark reduce the profitability.
The Group's operating revenue in the first quarter was NOK 218.3 million, a growth of 25%. EBITDA was NOK 5.0 million, down 53% from last year. The order backlog was NOK 461 million at the end of the quarter, up 7% from last year. Cash generated from operating activities totalled NOK -15.4 million in the quarter. The order intake was negatively affected by a NOK 26 million currency adjustment of the order backlog, and ended at NOK 165 million. Negative impact in Denmark - The quarter is marked by extraordinary costs on several solution projects and a sudden decline in the demand for services. We are not pleased with the negative result from Denmark and have implemented personnel adjustments and other cost reductions which will contribute to improve the results for the Danish organisation, says Kenneth Ragnvaldsen, CEO of Data Respons. A solid start in Norway and Germany - Considering the current market situation, Data Respons has had a very good start to the year in both Norway and Germany, with a healthy growth in revenue and profitability, says Ragnvaldsen. Norway has set a record in order backlog, which indicates well for the coming periods.