The case is updated
Crayon was left with a profit of NOK 16 million before tax in the first quarter, up from a loss of NOK 110 million in the same period last year.
Adjusted EBITDA ended at NOK 203 million, compared to NOK 185 million in the first quarter of 2023. According to TDN Direkt, an adjusted EBITDA of NOK 159 million was expected in advance.
Cash flow from operations in the first quarter ended at NOK 97 million, up 28 per cent.
– We have delivered a strong start to the year, and demonstrated how Crayon’s unique capabilities are well adapted to the market’s increasing demand for software and cloud, says CEO of Crayon, Melissa Mulholland, in a comment.
The company writes in the report that they have initiated measures to improve profitability within the “Consulting” business area. They expect this to have an effect from the second quarter and in the second half of the year, supporting the company’s target of an adjusted EBITDA margin of 18-20 per cent in 2024.
| Crayon | ||
| (Million kroner) | 1st quarter/24 | 1st quarter/23 |
| Operating income | 1,633.0 | 1,416.0 |
| Operating profit | 98.0 | 102.0 |
| Result before taxes | 16.0 | −110.0 |
| Result after tax | 10.0 | −91.0 |
WATCH LIVE: Webcast from the quarterly presentation at 8.30
