Improved results on a weak market

"In parts of the operations we are now seeing stabilization and early signs of a turnaround, whereas other parts are challenged by continued low utilization. The market outlook remains uncertain and our task in the current market is to retain our focus on developing existing client relations and finding new clients, We will also continue to optimize and adapt the organization to the current market condition," says Per Wallentin, President and CEO.

The Swedish market is challenging for all business areas. In Norway, the development is more stable, mainly thanks to several large strategic partnerships with public authorities and companies. The Finnish market is severely affected by the recession, but Knowit’s efforts with high sales pressure and a focus on adapting the organization have shown an effect there, and we are performing better than the market as a whole. In Denmark, the development remains weak, but with a few new larger deals in cloud solutions that create opportunities going forward.

"Through a strong sales focus and an agile organization, we can retain and even strengthen our positions. Nordic companies and authorities are facing large challenges in the transition to digital business models. We are seeing a continued hesitance in demand, but somewhat increased activity among our clients. Thanks to the actions taken during the latest quarter, we are well-equipped to face higher demand in an improving economic climate," concludes Per Wallentin.

For more detailed information on the results for the second quarter, please see the interim report available on Knowit’s website and appended this press release.

Presentation of the Interim Report 

Knowit will hold a presentation of the Interim Report, Friday July 19. President and CEO Per Wallentin and CFO Marie Björklund will 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: https://www.investis-live.com/knowit/6669782ada62330f003523e3/taerd  

Telephone numbers to the audiocast:

Sweden                +46 8 5051 0031
United Kingdom            +44 207 107 06 13

Other international numbers are available HERE
Pin: 43405119

No advance notification is necessary. After the presentation, a recording of the webcast will be available at https://www.knowit.eu/financial-information/

The information contained herein is such as shall be made public by Knowit, in accordance with the EU Market Abuse Regulation and the Securities Market Act. This press release was made public through the agency of President and CEO Per Wallentin, at 7:30 AM CEST on July 19, 2024.