Margins above target, multiple wins and expansion plans realized
Zalaris' Q1/17 revenues were up 8.0% to NOK 106.4 million, with an
EBIT margin of 10.1%. Multiple wins for international clients and an
agreement announced yesterday to acquire the company sumarum AG in
Germany kick off the company's expansion plans.
Zalaris, a leading provider of payroll and HR services, delivered
solid results in Q1/17 with continued strong growth and margins
above target. Sales increased 8.0% to NOK 106.4
million in Q1/17 from Q1/16, with a corresponding EBIT of NOK 10.7
million (10.1%) for the period.
"2017 started well with an encouraging level of activity and
numerous wins and developments that further strengthen Zalaris for
the future. Our record-high 203 000 employees served each month also
materialized in strong growth in Q1/17", says Hans-Petter Mellerud,
Zalaris' CEO and founder.
Continued growth for cloud
The cloud services business maintains a trend of significant
revenues growth with an increase of 171.3% up to NOK 13.6 million
(NOK 5.0 million). Cloud services now represent 14 per cent of total
operating profit.
"Both new and exisiting customers require solutions in the cloud,
which has boosted activity for our cloud division. This will
increase in importance also in the period to come", Mellerud says.
Multiple wins
Zalaris delivered multiple wins with multinational clients in the
quarter, such as Norsk Hydro ASA, a European energy champion and Siemens. An
extension agreement with Norsk Hydro ASA to provide payroll and HR
services to Hydro's 4 400 employees and 8 100 pensioners in Norway
was signed.
One of Europe's largest generator of renewable energy chose
Zalaris to deliver solutions and services to more than 3 000
employees in four countries, further supporting Zalaris' expansion
into the UK and Germany. A five-year renewal with the industrial
champion Siemens for its Swedish operations is also signed.
"These wins are evidence of our ability to deliver continued growth.
We see substantial opportunities for further growth on our scalable
platform", says Mellerud.
On 26 April Zalaris announced that it has acquired the leading
German HR Outsourcing company sumarum AG. Please see more
information in yesterday's release.
Contact
Hans-Petter Mellerud, CEO and founder
Mobile: +47 928 97 276
E-mail: hans-petter.mellerud@zalaris.com
Nina Stemshaug, CFO
Mobile: +47 982 60 394
E-mail: nina.stemshaug@zalaris.com
About Zalaris
Zalaris excels in delivering comprehensive cloud- based HR and
payroll services. The company is certified as a SAP Business Process
Outsourcing (BPO) Partner and is a leading
SAP Human Capital Management (HCM) and SuccessFactors consulting
partner. Founded in 2000, Zalaris today operates in Denmark,
Estonia, Finland, India, Latvia, Lithuania, Norway, Poland, Sweden
and Germany, including local-language service centers with extensive
expertise in HR- related laws and regulations.
Learn more about Zalaris at www.zalaris.com