08 Mar 2018
Annual Report 2017: Netcompany rounds DKK 1.4bn in revenue
Netcompany released its annual report for 2017 today, presenting an increase in revenue of more than 57% from 2016, of which 37 percentage points are from organic growth. Operational profit also rose by more than 73% to DKK 369m corresponding to an EBITA margin above 26%. Revenue in 2017 reached DKK 1.41bn, up from DKK 899.6m in 2016.
Founder and CEO Netcompany, André Rogaczewski:
”Netcompany had yet another outstanding year in 2017. We delivered strong growth and are able to present a record high revenue, representing 57.4% year-on-year growth, of which 37 percentage points are organic growth. I am tremendously proud and thank the many Netcompany employees who are all crucial to this success. I expect a 2018 with continued strong momentum across all our areas of business and a positive development in our international expansion.”
The annual results before amortisation, interest and tax (EBITA) in 2017 amount to DKK 369m, while Netcompany achieved a result of DKK 141.6m after tax. In 2017, Netcompany generated a free cash flow of DKK 307.3m, which led to a high cash conversion ratio of 76.4% for 2017.
Netcompany undertook its hitherto largest acquisition in 2017, with the purchase of British IT company Hunter Macdonald.
"The acquisition of Hunter Macdonald is in line with our growth strategy, as we aim to grow outside of Denmark by kick-starting organic growth through acquisitions. This acquisition significantly strengthens our capacity. Furthermore, we are adding competences within IT infrastructure and security; areas that are becoming increasingly crucial. We expect to carry out additional and similarly great acquisitions in the future." says André Rogaczewski.
With the acquisition of Mesan AS in Norway in 2016 and UK-based Hunter Macdonald in 2017, Netcompany is well positioned to continue its growth in Northern Europe. Netcompany is already seeing the positive synergies of the integration and build-up of the Norwegian Netcompany organisation which has developed according to expectations from 2017.
Netcompany continues to focus on organic growth in Denmark and the markets where it has made its recent acquisitions. Likewise, the goal is to expand its business at a controlled pace into additional markets.
”Looking ahead, we are aiming for an organic growth rate of 20-25%, which we believe is a realistic and healthy pace. As a result, we will ensure the business does not grow at a faster rate than we are able to keep up with, without having to compromise on the quality of our deliveries,” André Rogaczewski emphasises.
For interview requests with CEO André Rogaczewski contact:
Søren Langelund, email@example.com / mobile +45 20 91 93 35
- Netcompany was founded in 2000 and is headquartered in Copenhagen. The company delivers business critical IT solutions, that help its customers achieve significant digital business benefits
- Employee count: 1.700+
- Netcompany operates in Denmark, Norway and UK. Additionally, the company has sourcing centres in Poland and Vietnam
- Netcompany is committed to delivering high quality solutions, on time and at the agreed budget.
- For case studies: https://www.netcompany.com/int/Case-studies