Company announcement
No. 2/2021
Summary
In Q4 2020,
Adjusted EBITA grew 24.3% to
Average number of full-time employees grew 528 from 2,468 in Q4 2019 to 2,996 in Q4 2020, corresponding to a growth of 21.4% - all organic.
Free cash flow remained strong and increased by 78.8% from
For the full year 2020,
Free cash flow for the year increased by
Revenue visibility increased by 16.6% to
For 2021,
Adjusted EBITA margin is expected to be around 23-25%.
"In Q4, we continued to deliver high quality on our projects and added new and important project wins in both
We have succeeded in attracting top talent to our Group and I am pleased to welcome another 300 new
In 2021, we will continue to support the digital transformation of societies and realise the benefits together with our valued customers. I am confident that we are on the right path and well positioned to make another step closer to our ambition of becoming a Northern European leader within IT services."
Performance highlights for Q4 2020
- Revenue increased by 15.2% to
DKK 772.7m in reported currencies and by 16.5% in constant currencies. - Gross profit margin was 42.4% against 42.3% in Q4 2019.
- Adjusted EBITA increased 24.3% and yielded a margin of 28.9%.
- Free cash flow remained strong and improved by 78.8% to
DKK 208.9m . - Fair value adjustment of the investment in
the Netherlands reflects the increase of the total purchase price and impacted net profit negatively byDKK 141.3m . - Cash conversion rate was 893.4%. Adjusted for the fair value adjustment to the contingent purchase price and normalised for tax payment, conversion rate was 127.9%.
- Debt leverage to 12 months rolling adjusted EBITA was 0.6.
Financial overview
For full details on financial performance, see enclosed Company announcement Q4 2020 and the Annual report for 2020.
Conference call details
In connection with the publication of the results for Q4 2020,
The conference call will be held in English and can be followed live via the company’s website; www.netcompany.com
Dial-in details for investors and analysts:
DK: +45 78 15 01 08
US: +1 646 722 4904
Webcast Player URL: https://streams.eventcdn.net/netcompany/2020q4
Additional information
+45 70 13 14 40
+45 51 19 32 24
Attachments
- Netcompany Group Annual Report 2020
Netcompany Group Interim Report Q4 2020
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