Changes in the world of work partly fuels Crayon Q1 earnings growth
(OSLO, Norway) -- Crayon, a global leader in digital transformation, announced its first-quarter earnings today that showed double-digit growth across all business areas and market clusters that was partly fueled by the change in the world of work.
“In a world of ‘remote everything’ we experienced a surge in demand for digital collaboration tools and related productivity offerings positively impacting both our software division and our consulting business during the quarter,” said Crayon CEO Torgrim Takle.
Revenue was $413 million (NOK 4,204m) in the first quarter, which is a 59% increase from the same period last year. Meanwhile gross profit was $50.5 million (NOK 515m), marking a 30% jump from the first quarter of 2019.
“I am particularly pleased with our latest results because they reflect the strength of our business model that centers around supporting customers on their digital transformation journey in both software and services,” Takle said.
The COVID 19 pandemic has changed the way of work, creating a “new normal” that accelerates organizations’ digitalization journey. The shift goes beyond more collaborative tools that improve productivity and communication, but centers around the high quality, secure and on-demand scalability of cloud-based solutions.
This quarter is the ninth-consecutive record-breaking quarter for Crayon and it marks the strongest ever first quarter for the Nordics.
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 1,500 employees in 50 offices worldwide.
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