Strong Growth at Start of YearKarlsruhe, )
Operating revenue for the 1st quarter was NOK 218.3 million, a growth of 27%. EBITDA was NOK 1.8, and EBIT was NOK 0.3. Order intake during the quarter totalled NOK 246 million, a growth of 28%. Order backlog was NOK 633 million, a growth over 50 %. Cash flow from operating activities was NOK 6.2 million.
NORWAY AND SWEDEN
We are pleased with the development of the Norwegian and Swedish markets, says Ragnvaldsen. The increased demand from existing and new customers has improved both revenue and order intake during the period and provides us with exciting opportunities ahead.
The company has strengthened its position within the Swedish solution market, a time-consuming process but one which holds a greater potential for both Data Respons and our customers. We continuously see increasing opportunities for larger solution deliveries and are focusing our efforts to lift this business area in 2011.
While the market conditions have been improving gradually in other regions, the Danish market has continued to be challenging. Therefore, several efficiency measures have been implemented during this quarter and the cost base has been significantly reduced. The company is now focused around our core competencies with a compact and flexible organisation. A sharpened customer focus and profitable operations are our main goals ahead.
THE GROWTH CONTINUES MOVING FORWARD
Strong sales efforts and a record high order backlog indicates an improved market in general and that the company is back on the growth track in 2011, says Ragnvaldsen. We are well positioned to collaborate with larger customers who face increased demand for innovative, technological solutions and access to local competency, while providing a competitive cost level through our global partners and presence in Asia.