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Financial report for the first six months of 2017

Press release   •   Aug 16, 2017 08:33 CEST

NNIT delivers organic revenue growth of 5.3% and an operating profit margin of 9.5% in the first six months of 2017.

Performance highlights for the first six months of 2017

Revenue increased by 6.3%, hereof 5.3% organic, to DKK 1,404m in reported currencies and by 6.2% in constant currencies. Revenue increased by 15% from customers outside the Novo Nordisk Group while revenue from the Novo Nordisk Group decreased by 3.4%

  • The share of NNIT’s revenue from customers outside the Novo Nordisk Group reached 58% in 6M 2017 compared to 51% in the same period last year
  • Operating profit margin was 9.5% in reported currencies and 9.4% in constant currencies compared to 9.6% as reported in 6M 2016
  • Net profit increased by 12% to DKK 103m following an improvement in operating profit and net financials
  • Underlying free cash flow for 6M 2017 improved by DKK 56m to DKK 155m compared to 6M 2016. Including the acquisition of SCALES and investment in a new data center the free cash flow was DKK -23m in 6M 2017
  • Order backlog for 2017 at the beginning of Q3 2017 increased by DKK 137m to DKK 2,659m which is a growth of 5.4% compared to the order backlog for 2016 at the beginning of Q3 2016. The organic growth in the order backlog is 3.4%
  • Outlook for 2017:
    • Expected revenue growth is maintained at 4-8% in constant currencies with expected organic growth of 1-5%
    • Operating profit margin is maintained to be around 10% in constant currencies
    • The expected level of investments in 2017 is 15-17% with an expected organic investment level of 12-14% of total revenue as the majority of investment related to an additional data center will impact 2017
  • The Board of Directors has decided to pay an interim dividend for 2017 of DKK 2.00 per share corresponding to DKK 48.7m

Per Kogut, CEO at NNIT comments: "NNIT continues the positive development for 2017 where we deliver robust IT and strong financial performance with more than 17% growth from customers outside the Novo Nordisk Group. I am particularly pleased to see several new orders within Dynamics 365 won by our newly acquired company SCALES."

Conference call details
NNIT will host a teleconference August 16, 2017 at 10:30 CET about the financial report for Q2 2017. Please visit the NNIT webpage at to access the teleconference, which can be found under ‘Investors – Downloads’. Presentation material will be available on the website approximately one hour prior to the start of the presentation.

Contacts for further information

Investor relations:
Jesper Vesterbæk Wagener
Head of Investor Relations
Tel: +45 3075 5392

Media relations:
Helga Heyn
NNIT Communications
Tel: +45 3077 8141

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