Skip to main content

NNIT A/S: NNIT adjusts 2024 financial outlook

Written by Customer Service on . Posted in Public Companies.

NNIT adjusts the 2024 financial outlook and now expects organic revenue growth to be around 6-7% (previously around 10%) and the Group operating profit margin to reach 6-7% before special items (previously 8-9%) on the back of unsatisfactory performance in Q3. An uplift in Q4 is expected based on improved transparency and a solid backlog for the remainder of the year following recent important contract wins.

Based on preliminary and unaudited financial figures, NNIT generated Q3 2024 Group revenue of DKK 445 million (2023: DKK 453 million) and Group operating profit of DKK 17 million before special items (2023: DKK 26 million) corresponding to organic growth of -1.6% (2023: 11.1%) and a Group operating profit margin of 3.9% before special items (2023: 5.8%) in the quarter. For the first nine months of 2024, Group revenue was DKK 1,382 million (2023: DKK 1,290 million) with Group operating profit of DKK 73 million before special items (2023: DKK 72 million) for organic growth of 5.6% (2023: 11.3%) and a Group operating profit margin of 5.3% before special items (2023: 5.6%).

The outlook adjustment follows an unexpected revenue decline in Region Europe and Region US in Q3, which was impacted by a moderate market slowdown resulting in projects being postponed or put on hold, combined with prolonged challenges in the data migration business. As one of several levers to accelerate profitability in the second half of 2024, NNIT recalibrated capacity in both Europe and the US in Q3, and additional adjustments are made to align internal capacity with market demand. NNIT is executing as planned on the remaining initiatives already taken to accelerate profitability, which include securing important wins in the US and Europe, leveraging the full effect of the turnaround in Asia, completing crucial internal projects and benefiting from a lower cost run-rate after relocation of offices. These key levers are contributing positively to profitability in 2024 and beyond.

NNIT will publish the Q3 2024 trading statement on November 5, 2024 as planned.

Contact for further information
Carsten Ringius
EVP & CFO
Tel: +45 3077 8888
carr@nnit.com

Media relations
Tina Joanne Hindsbo
Media Relations Manager
Tel: +45 3077 9578
tnjh@nnit.com

NNIT is a leading provider of IT solutions to life sciences internationally, and to the public and enterprise sectors in Denmark

We focus on high complexity industries and thrive in environments where regulatory demands and complexity are high.

We advise and build sustainable digital solutions that work for the patients, citizens, employees, end users or customers.

We strive to build unmatched excellence in the industries we serve, and we use our domain expertise to represent a business first approach – strongly supported by a selection of partner technologies, but always driven by business needs rather than technology.

NNIT consists of group company NNIT A/S and subsidiaries SCALES, Excellis Health Solutions and SL Controls. Together, these companies employ more than 1,700 people in Europe, Asia and USA.

Read more at www.nnit.com

Attachment

Disclaimer & Cookie Notice

Welcome to GOLDEA services for Professionals

Before you continue, please confirm the following:

Professional advisers only

I am a professional adviser and would like to visit the GOLDEA CAPITAL for Professionals website.

Important Notice for Investors:

The services and products offered by Goldalea Capital Ltd. are intended exclusively for professional market participants as defined by applicable laws and regulations. This typically includes institutional investors, qualified investors, and high-net-worth individuals who have sufficient knowledge, experience, resources, and independence to assess the risks of trading on their own.

No Investment Advice:

The information, analyses, and market data provided are for general information purposes only and do not constitute individual investment advice. They should not be construed as a basis for investment decisions and do not take into account the specific investment objectives, financial situation, or individual needs of any recipient.

High Risks:

Trading in financial instruments is associated with significant risks and may result in the complete loss of the invested capital. Goldalea Capital Ltd. accepts no liability for losses incurred as a result of the use of the information provided or the execution of transactions.

Sole Responsibility:

The decision to invest or not to invest is solely the responsibility of the investor. Investors should obtain comprehensive information about the risks involved before making any investment decision and, if necessary, seek independent advice.

No Guarantees:

Goldalea Capital Ltd. makes no warranties or representations as to the accuracy, completeness, or timeliness of the information provided. Markets are subject to constant change, and past performance is not a reliable indicator of future results.

Regional Restrictions:

The services offered by Goldalea Capital Ltd. may not be available to all persons or in all countries. It is the responsibility of the investor to ensure that they are authorized to use the services offered.

Please note: This disclaimer is for general information purposes only and does not replace individual legal or tax advice.