Quarterly earnings: Crayon Group reports NOK 6.1 billion in revenue
(OSLO, Norway) – Crayon Group Holding ASA (OSE: CRAYON), a global leader in digital transformation services, announced today its second-quarter earnings that showed NOK 6.1 billion in revenue, results that were largely driven by the surge for digital solutions in the world of remote everything.
Revenue increased by 44% for the quarter compared to the same period last year and gross profit increased by 35% to NOK 666 million for the quarter.
“We continue to see organizations investing in technology and cloud solutions to improve business resilience and digital capability, resulting in increased demand for Crayon’s products and services and a strengthened outlook for the company,” said Crayon CEO Torgrim Takle.
That increased demand was demonstrated in Crayon’s software division, which grew on average two times faster than the global market.
The Oslo-based company has marked many other milestones this quarter. Last week it was positioned by Gartner in the Leaders quadrant of the Magic Quadrant for Software Asset Management Managed Services (Published on 4 August 2020, Authored by Stephen White and Rob Schafer).
Also, one of its subsidiaries, Anglepoint, was positioned in that same quadrant, meaning two companies recognized were under the Crayon brand.
“To us, software asset management is in Crayon’s core DNA and being acknowledged as a Leader in the quadrant further reflects how we are able to allocate the right experts to the right problem, regardless of where our customers are located,” said Takle.
During the second quarter, Crayon also entered into one of its most promising strategic partnerships, a multi-year global agreement with Amazon Web Services (AWS) and it made significant investments in the Australian market.
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Crayon helps customers build the commercial and technical foundation for a successful digital transformation journey through a reliable services framework allowing our customers to right-size and optimize their IT estates to unlock technology’s potential and innovation. Headquartered in Oslo, Norway, Crayon has over 1600 employees across approximately 50 locations worldwide.