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Company announcement 05/2021: Financial report for the first three months of 2021
Revenue increase of 1.2% and an operating profit margin before special items of 6.6%
Performance highlights for the first three months of 2021
Revenue increased to DKK 731m, up 1.2% (-1.7% organic) from Q1 2020, driven by:
Life Sciences (excluding Novo Nordisk Group) grew to DKK 228m, up 43% (30% organic). This increase was mainly related to the continued significant growth of the Life Sciences International business, where revenues increased by 73% (49% organic) to DKK 159m, while revenue from Life Sciences Denmark increased by 3.0% to DKK 69m.
Novo Nordisk Group revenue declined 14% to DKK 159m
Private & Public business revenue decreased by 9.0% to DKK 344m, mainly due to the loss of the Pandora agreement, but partly countered by increased sales of Winning Solutions
Winning Solutions now constitutes 49% of total revenue, up from 44% in Q1 2020
Operating profit margin before special items was 6.6%, up from 6.5% in Q1 2020 positively impacted by a settlement of DKK 7m within Private & Public
Net profit amounted to DKK 31m, down from DKK 35m in Q1 2020
Order backlog for 2021 at the beginning of Q2 2021 amounted to DKK 2,379m, an increase of 4.0% over the same time last year, a positive development considering the change in overall mix towards project-based business
Outlook for 2021:
Guidance for 2021 is maintained:
Revenue growth of 1-4%
Operating profit margin before special items of 6-7%
Investment level of 5-7% of total revenue excluding acquisitions
The outlook may still be influenced by the continued uncertainty relating to the COVID-19 situation
Per Kogut, CEO of NNIT, comments: “In Q1 we experienced the continued strong growth within International Life Sciences business, with Excellis performing to plan. Our Private & Public business started to see positive momentum in relation to the Winning Solutions strategy which now constitutes 49% of NNIT revenue. Expectations for 2021 remain positive and we maintain our financial guidance.”
Conference call details
NNIT will host a teleconference on May 7, 2021 at 9:30 CET to present the financial report for the first three months of 2021. Please visit the NNIT website www.nnit.com to access the teleconference, which can be found under ‘Investors – Events & Presentations’. Presentation material will be available on the website approximately one hour prior to the start of the presentation.
Conference call details
Participant telephone numbers:
Denmark: +45 8233 3194
United Kingdom: +44 333 300 9034
Sweden: +46 856 642 705
United States: +1 833 526 8382
Financial calendar 2021
August 12, 2021 Interim report for the first six months of 2021
November 3, 2021 Interim report for the first nine months of 2021
This announcement contains forward-looking statements. Words such as ‘believe’, ‘expect’, ‘may’, ‘will’, ‘plan’, ‘strategy’, ‘prospect’, ‘foresee’, ‘estimate’, ‘project’, ‘anticipate’, ‘can’, ‘intend’, ‘outlook’, ‘guidance’, ‘target’ and other words and terms of similar meaning in connection with any discussion of future operating or financial performance identify forward-looking statements. Statements regarding the future are subject to risks and uncertainties that may result in considerable deviations from the outlook set forth. Furthermore, some of these expectations are based on assumptions regarding future events which may prove incorrect.
Please also refer to the overview of risk factors in the ‘risk management’ section on page 41-43 of the Annual Report 2020.
Contacts for further information
Investor relations: Media relations:
Pernille Fabricius Tina Joanne Hindsbo
CFO Media Relations Manager
Tel: +45 3077 9500 Tel: +45 3077 9578
The NNIT Group provides a wide range of IT and consulting services worldwide. Supporting the entire supply chain, we help optimize internal company processes, production, sales and delivery to customers. We are experts in supporting the world’s most regulated industries subject to strict governance of processes, quality and data management and documentation – and in guiding customers on their digital journeys.
The Group consists of NNIT A/S and subsidiaries Valiance, SCALES and Excellis Health Solutions. Within these companies, we employ over 3,000 people, primarily within Europe, Asia and the US.
In Denmark, home to Group HQ, we are one of the leading IT consultancies, servicing both private and public sector customers across all industries. In other parts of Europe and in USA and Asia, we are solely focused on companies within life sciences.
Read more at www.nnit.com