Crayon Group announces best full-year results in its history
OSLO, Norway _ Crayon Group Holding ASA announces its best full-year results in its history as the fourth quarter of 2018 comes in with strong revenue and gross profit growth across all business areas and market clusters.
The fourth-quarter of 2018 saw a revenue growth of 25% and a gross-profit growth of 27% compared to the same period in 2017. Crayon is a leading IT advisory firm in software and digital transformation services.
“This marked another record financial quarter for Crayon, also yielding the best full-year results ever, with strong organic revenue growth and EBITDA improvement compared to the same periods the previous year. Crayon grew faster than the market this year, underlining the relevance of our value-based approach towards clients,” says Crayon’s co-CEO Torgrim Takle.
Crayon’s adjusted EBITA in Q4 2018 increased to 78 million NOK, which is up by 20 million NOK compared to the last quarter of 2017. That increase was largely driven by strong growth within software and services.
“We are especially proud of the cloud penetration that we’re having, which is No. 1 globally among the large partners, particularly on the Microsoft platform,” says Crayon’s co-CEO Rune Syversen.
Crayon’s position as an industry leader in emerging technologies continues to be solidified.
“The machine learning and artificial intelligence in our business is moving in the right direction and moving fast,” says Syversen. “We’re excited about using that strong momentum to deliver cutting-edge innovations in the Norwegian market, but also on an international scale.”
Many have found Crayon to be an attractive place to work as it develops and retains top talent. In 2018 there was a year-over-year increase of about 150 employees. The company, which was founded in 2002, has about 1,200 employees in 45 offices worldwide.
“Consolidation has been moving in our favor and we've been able to recruit some great talent,” Syversen says. “We are on the right path strategically and look forward to an even stronger 2019.”
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