Knowit Q2 260717 ENG
Operative efficiency and new leadership
During the second quarter, we have continued to focus on operative efficiency, strengthened competitiveness, and investments in areas where demand is high. The quarter’s net sales were SEK 1,433 million, with an adjusted EBITA margin of 4.3 percent. Utilization is developing positively, and we are delivering an improvement in adjusted EBITA compared with the previous year. AI is now an integral part of both our own operations and the solutions we develop together with our clients. This makes Knowit a more innovative and competitive partner. With greater operational efficiency now in place, the conditions are also right to gradually focus on growth.
“During the second quarter, the positive development of utilization that we have seen for over a year continued, confirming that the actions we have taken are having effect. Despite some positive signs, we see that many clients still make investment decisions cautiously. We are working actively to strengthen our position and maintain a close dialogue with our clients to ensure that the competence and value we deliver is also reflected in profitable deals,” says Per Wallentin, President and CEO of Knowit.
Per Wallentin previously announced that he will step down as President and CEO of Knowit on August 1. Today, Knowit stands on a solid foundation with strong client relationships, a clear market position, and a strategy that remains unchanged. At the same time, AI is transforming the industry at a rapid pace, and as the market gradually recovers, there are significant opportunities to translate technological advances into new business opportunities and long-term value creation. Effective August 1, Fredrik Ekerhovd will assume the role of Acting President and CEO while the recruitment process for a permanent CEO is completed.
“This interim report marks the end of an important era for me personally. After 27 years at Knowit, of which 15 as President, I am handing over the baton. When I look back on all these years, my main feeling is pride at the journey we have taken together, through good times and bad. Today, the company is in a strong position, the opportunities ahead are many, and I look to Knowit's continued development under new leadership with great confidence,” concludes Per Wallentin.
For more detailed information on the results of the third quarter, please see the interim report available on the website and appended to this press release.
Presentation of the report
Knowit will be holding a presentation of the Interim Report today, Friday July 17. President and CEO Per Wallentin and CFO Marie Björklund comment on the results and answer questions.
The report will be available at https://www.knowit.eu/financial-information/
The presentation starts at 10.00 am (CEST) and will be held in English.
Link to the audiocast: hhttps://www.investis-live.com/knowit/6a15b1c4bcc2bc000fce0e2a/pgns
Telephone numbers to the audiocast:
Sweden +46 (0) 10 884 80 16
United Kingdom +44 (0) 20 3936 2999
Other international numbers are available HERE
No advance notification is necessary. After the presentation, a recording of the webcast will be available at https://www.knowit.se/ir/rapporter--presentationer/