Company announcement
No. 17/2020
Summary
In Q2 2020,
Adjusted EBITA grew by 27.9% to
The average number of full-time employees grew by 404 from 2,259 in Q2 2019 to 2.663 in Q2 2020. Part of the increase was related to the acquisition of Netcompany Netherlands, which affected the average FTEs in Q2 2020 by 98 compared to 47 in Q2 2019.
Free cash flow remained strong and added another
By the start of
For 2020,
In light of the COVID-19 pandemic, we underline that our assumptions behind our guidance are significantly more uncertain than normal.
“During these unprecedented times, we continued to follow our initial growth plans for the year and realised more than 15% growth for the Group in the second quarter of 2020, accompanied by strong cash flow and increasing margins.
During Q2, we have delivered a number of large projects, most notably the social pension solution in
Despite the uncertainty in all of our markets, we have welcomed more than 230 new employees in Q2, which I am truly proud of.”
Performance highlights for Q2 2020
- Revenue increased by 13.9% (15.1% constant), of which 12.5% came from organic growth, to
DKK 675.5m in reported currencies. - Gross profit margin was 38.4% against 37.6% in Q2 2019.
- Adjusted EBITA increased 27.9% and yielded a margin of 23.9%.
- Net result increased by more than 55%.
- Free cash flow was
DKK 103.1m and total cash and cash equivalents increased to more thanDKK 300m . - Normalised cash conversion rate of 65.4%.
- Debt leverage to 12 months rolling Adjusted EBITA below 1.
Financial overview
For full details on financial performance, see enclosed interim report for the six months ended
Conference call details
In connection with the publication of the results for Q2 2020,
Dial-in details for analysts and investors:
DK: +45 78 76 84 90
US: +1 917 962 0650
Confirmation code: 598046
Webcast player URL: https://netcompany.eventcdn.net/2020q2
Additional information
Attachment
- Company-announcement-Q2-2020
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