Crayon announces sixth consecutive record-breaking quarter
(OSLO, Norway) -- Crayon Group Holding ASA (OSE: CRAYON), a global leader in digital transformation services, today announced its second-quarter earnings had record organic revenue and gross profit growth across all business areas and market clusters.
The revenue growth in this latest quarter was 43% and gross profit growth was 21% when compared to the same quarter in 2018. The presentation for the results can be found here.
“I’m pleased to report our sixth consecutive, record-breaking quarter,“ said CEO Torgrim Takle. “Because of our robust first half results and continued strong underlying business momentum, we are lifting our financial guidance for the full-year 2019.“
Adjusted EBITDA in the second quarter increased by NOK 32 million, compared to the second quarter of 2018, to NOK 124 million. The YoY EBITDA increase in the latest quarter was driven by all market clusters and most business areas.
The exceptional results are attributed to Crayon’s growth in developing markets, increasingly favorable market conditions and being a global leader in emerging technologies, such as cloud technologies, artificial intelligence (AI) and machine learning (ML).
Crayon is a fast-growing company with offices in 30 countries and it has delivered on its ambitious growth plans. The strongest improvement in financial results have been in the newly established markets covering the US, Middle East, India and APAC.
Businesses are increasingly and rapidly moving into the cloud and Crayon’s value proposition is well-suited for this mega-trend. Crayon has the world’s largest independent software and cloud analytics practice, giving it unique insight and resources to guide clients on their digital transformation journey.
In addition, Crayon’s position as a frontrunner in AI and ML has also helped bolster the latest results. The company recently received global recognition from Microsoft as the world’s best AI and ML practice.
Crayon Group Holding ASA is a leading IT advisory firm in software and digital transformation services. With unique IP tools and skilled employees, Crayon help optimize its clients' ROI from complex software technology investments. Crayon have long experience within volume software licensing optimization, digital engineering, predictive analytics and assists the clients through all phases of the process of a digital transformation. Headquartered in Oslo, Norway, the company has approximately 1,400 employees in 45 offices worldwide.
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