Knowit is ending 2024 with a continued positive development in utilization within the largest business area Solutions, and with stable results in Connectivity, despite somewhat lower utilization this quarter. At the same time, we are seeing lower results and a weaker margin compared with the preceding year - an effect of a slower market recovery than expected. The net sales for the quarter decreased by 10 percent, combined with an adjusted EBITA margin of 6.5 percent. Net sales were SEK 1,641.9 (1,824.0) million and the adjusted EBITA result was SEK 106.6 (147.7) million. Given the results of the year and the expected future market development, the Board of Knowit proposes a dividend of SEK 2.30 per share.
"The Nordic countries have during the year been characterized by a gradually worsening economic climate and demand has continued to vary between regions and segments. The Swedish market has been particularly challenging, but towards the end of the year we saw signs of recovery in some regions. On all markets, we are working actively to develop services and client relations, in order to enable for profitable growth," says Per Wallentin, CEO and President.
A central part of Knowit's strategy has been to focus on innovation and technology-driven development to meet our clients' needs in a changing world. In some sectors, demand has been high throughout the recession, primarily in cybersecurity and defense. During the quarter, the position in the defense sector has been strengthened further through successful recruitments and focused education efforts that reinforce Knowit's competence in both military and civilian defense.
"Digital transformation is not just a way to streamline organizations, but also a strategic prerequisite for future competitiveness. We are seeing our clients continue to invest in areas like cloud services, data-driven development, and cybersecurity, where Knowit is well-positioned as one of the leading players in the Nordic region. As we look to the future, we are optimistic about our possibilities to grow once more and take market shares when the market pivots," says Per Wallentin.
For more detailed information on the results for the second quarter, please see the interim report available on Knowit's website and appended this press release.
Presentation of the report
Knowit will be holding a presentation of the Interim Report today, Friday February 7. President and CEO Per Wallentin and CFO Marie Björklund comment on the results and answer questions.
The report will be available at https://www.knowit.eu/financial-information/
The presentation starts at 10.00 am (CET) and will be held in English.
Link to the audiocast: https://www.investis-live.com/knowit/678e32aacddd8c000f42d0b6/laywr
Telephone numbers to the audiocast:
Sweden +46 8 5051 0031
United Kingdom +44 207 107 0613
Other international numbers are available HERE
No advance notification is necessary. After the presentation, a recording of the webcast will be available at https://www.knowit.eu/financial-information/
The information contained herein is such as shall be made public by Knowit, in accordance with the EU Market Abuse Regulation. This press release was made public through the agency of President and CEO Per Wallentin, at 7:30 AM CET on February 7, 2025.
For more information, please contact:
Marie Björklund, CFO, +46(0)8 700 66 00 or marie.bjorklund@knowit.se
Christina Johansson, Head of Communications, +46(0)70 542 1734 or christina.johansson@knowit.se
Annika Billberg, Investor Relations, +46(0)70 267 97 91 0rt annika.billberg@knowit.se
About Knowit
Knowit are digitalization consultants and a Nordic powerhouse for the digital business models of the future. Our vision is to create a sustainable and humane society through digitalization and innovation. Knowit supports its clients in the digital transformation and stands out among other consultancy firms through its decentralized organization and agile work methods in client assignments. The operations are divided into four business areas - Solutions, Experience, Connectivity, and Insight - which offer services in bespoke system development, digital customer experiences, the internet of things, cloud, cybersecurity, and management consultancy. Competences from several business areas are often combined in client projects.
Knowit was founded in 1990 and now has around 3,860 employees, mainly in the Nordic countries, but also in operations in Germany and Poland. Knowit AB (publ) has been listed on the stock market since 1997 and is currently listed on Nasdaq OMX Stockholm Mid Cap. For more information about Knowit, please visit knowit.eu.
