16.5.2024 07:00:00 CEST | Cyviz | Half yearly financial reports and audit
reports / limited reviews

Cyviz AS today announces its financial results for the first quarter of 2024. 

The company nearly doubled its EBITDA result to NOK 5.2 million in the first
quarter and generated a free cash flow of NOK 24 million. Revenues were NOK
106.6 million, down from NOK 137 million last year, more than offset by the
shipment of higher-margin goods which increased the gross margin by NOK 5.9
million. This lower-revenue, higher-margin effect is temporary and tied to
larger projects with revenue and costs spread over multiple periods. 

Order intake was NOK 91.4 million, a decrease from the first quarter in 2023,
aligning with expectations due to a particularly high order intake in Q4-23.
With an order backlog of NOK 428 million, an increase from NOK 302 million in Q1
2023, and a strong pipeline for 2024, Cyviz is well-positioned for continued
profitable growth. 

"Our focus on profitable growth and positive cash flow is starting to prove
results. Our backlog, pipeline, strategic initiatives, and focus on operational
efficiencies indicate a positive development for 2024.", says Espen Gylvik, CEO
of Cyviz. 

Cyviz has a medium-term target of a 15-20% EBITDA margin. 

Cyviz AS presents its results for the first quarter of 2024 today, Thursday, May
16th, at 09:00 (CET), inviting investors, analysts, and other interested parties
to a live webcast. 

 Webcast link: https://channel.royalcast.com/landingpage/hegnarmedia/20240516_1/

 

The report, presentation, and link to the recording of the webcast are available
at: https://www.cyviz.com/investor-relations/ 

DISCLOSURE REGULATION

This information is subject to the disclosure requirements pursuant to Section
5-12 the Norwegian Securities Trading Act.

CONTACTS

 * Ellen Kristine Lome, Chief People & Communications Officer, Cyviz AS,
   +4790624524, ellen.lome@cyviz.com 
 * Espen Gylvik, CEO, Cyviz AS, +4791330644, espen.gylvik@cyviz.com 
 * Karl Peter Gombrii, CFO, Cyviz, (+47) 92822969, karl.gombrii@cyviz.com 

ABOUT CYVIZ

About Cyviz 

Cyviz is a global technology provider for comprehensive conference and control
rooms as well as command and experience centers. Since 1998, we have created
next level collaboration spaces, assuring inclusive meeting experiences for in
person and remote attendance.

Cyviz serves global enterprises and governments with the highest requirements
for usability, security, decision making and quality. The cross-platform
experience Cyviz delivers to manage and control systems and resources across the
enterprise, makes Cyviz the preferred choice for customers with complex needs.

Find out more on www.cyviz.com - http://www.cyviz.com or visit one of our Cyviz
Experience Centers in Atlanta, Benelux, Dubai, Houston, Jakarta, London, Oslo,
Riyadh, Singapore, Stavanger, or Washington DC.

Cyviz is listed on Euronext Growth at the Oslo Stock Exchange (ticker: CYVIZ).

ATTACHMENTS

Cyviz Q1 2024 presentation.pdf -
https://kommunikasjon.ntb.no/ir-files/17847582/3112/4478/Cyviz%20Q1%202024%20pre
sentation.pdf

Cyviz Q1 report 2024.pdf -
https://kommunikasjon.ntb.no/ir-files/17847582/3112/4479/Cyviz%20Q1%20report%202
024.pdf

Click here for more information

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