Company announcement
No. 19/2020
Summary
In Q3 2020,
Adjusted EBITA grew 19.1% to
Average number of full-time employees grew 482 from 2,345 in Q3 2019 to 2,827 in Q3 2020, corresponding to a growth of 20.5% - all organic.
Free cash flow remained strong and improved by 18.5% from
Based on current expectations for full year performance,
At the start of
The second wave of COVID-19 has a significant negative impact particularly in the
For 2021,
“I am proud to see the significant positive development that Q3 brought to two of our markets outside of
We grew more than 18% and realised 28% in margin. However, we also witnessed the underlying economic conditions in the
The negative development in the
Despite this adjustment, I am humbled by how we have performed during unprecedented times and at the same time it makes me really delighted to have welcomed close to 400 new employees to the
Performance highlights for Q3 2020
- Revenue increased by 17.3% (18.1% constant) to
DKK 694.7m in reported currencies. - Gross profit margin was 42.2% in Q3 2020 against 43.2% in Q3 2019.
- Adjusted EBITA increased 19.1% and yielded a margin of 28.1%.
- Free cash flow remained strong and improved by 18.5% to
DKK 149.9m . - Cash conversion rate was 101.4% and normalised for tax payment conversion rate was 77.8%.
- Debt leverage to 12 months rolling adjusted EBITA was 0.8.
- Strong free cashflow was used to reduce bank debt with
DKK 200m and total cash and cash equivalents increased fromDKK 176.6m in Q3 2019 toDKK 236.7m in Q3 2020.
Financial overview
For full details on financial performance, see enclosed interim report for the nine months ended
Conference call details
In connection with the publication of the results for Q3 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 76 84 90
US +1 646 787 0157
Confirmation code: 598046
Webcast Player URL: https://streams.eventcdn.net/netcompany/2020q3
Additional information
+45 70 13 14 40
+45 51 19 32 24
Attachment
- 19.
Netcompany - Company announcement Q3 2020
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