Cyviz AS – Q1 2023: 97 percent revenue growth and NOK 21 million improvement of EBITDA

12.5.2023 07:00:01 CEST | Cyviz | Half yearly financial reports and audit reports / limited reviews

Cyviz AS today publishes its financial results for the first quarter of 2023 with NOK 137 million in revenue, a growth of 97 percent compared to the same quarter in 2022. EBITDA improved by NOK 21 million to NOK 2.7 million, bringing rolling 12 months EBITDA up to NOK 30 million.

“We see strong demand across all regions and customer sectors for our solutions for next level collaboration, and we almost doubled our revenues in the first quarter,” says Espen Gylvik, CEO of Cyviz.

The government & defense sector as well as the corporate sector are important drivers for Cyviz, and during the first quarter, examples of significant deliveries were several projects for Accenture in London and Dublin, Aker BP at Jåttå near Stavanger and the new envisioning theatre in Munich for Microsoft.

The company is well diversified in terms of geography, with North America being the largest region with 35 percent of revenues followed by the Middle East with 32 percent and Europe with 26 percent.

Total order backlog is NOK 302 million after Q1, which is a growth compared to Q1 2022 of NOK 80 million (36%).

“We are happy with this solid starting point for continued growth in the coming quarters. The government & defense sector was the strongest growth driver in terms of new orders in the first quarter. We were awarded multiple deals within the energy sector across both Europe and the Middle East to deliver collaboration, control and visualization rooms,” says Espen Gylvik.

Cyviz remains confident in its growth prospects in the medium term and continues to reiterate the medium-term target of 30% CAGR on revenue, and 15-20% EBITDA margin.

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Cyviz AS is presenting its Q1 2023 report and presentation today, Friday, May 12, at 09:00 (CEST) and hereby invites investors, analysts, and other stakeholders to a live webcast. Presenters will be CEO Espen Gylvik and CFO Marius Skagen. Viewers are encouraged to submit questions during the presentation through the webcast player. 

Link to landing page LIVE and recording: https://channel.royalcast.com/hegnarmedia/#!/hegnarmedia/20230512_6

The report, presentation, and link to the recorded webcast will also be made 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

• Espen Gylvik, CEO, Cyviz AS, [phone], [e-mail]
• Marius Skagen, CFO & Investor Relations, Cyviz AS, [phone], [e-mail]

About Cyviz

AboutCyviz 

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 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 report 2023.pdf
• Cyviz Q1 2023 presentation.pdf

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