PRESS RELEASE
Positive trend despite slow market recovery
Knowit is ending 2024 with a continued positive development in utilization within the largest business area Solutions, and with stable results in Connectivity, despite somewhat lower utilization this quarter. At the same time, we are seeing lower results and a weaker margin compared with the preceding year – an effect of a slower market recovery than expected. The net sales for the quarter decreased by 10 percent, combined with an adjusted EBITA margin of 6.5 percent. Net sales were SEK 1,641.9 (1,824.0) million and the adjusted EBITA result was SEK 106.6 (147.7) million. Given the results of the year and the expected future market development, the Board of Knowit proposes a dividend of SEK 2.30 per share.
“The Nordic countries have during the year been characterized by a gradually worsening economic climate and demand has continued to vary between regions and segments. The Swedish market has been particularly challenging, but towards the end of the year we saw signs of recovery in some regions. On all markets, we are working actively to develop services and client relations, in order to enable for profitable growth,” says Per Wallentin, CEO and President.
A central part of Knowit’s strategy has been to focus on innovation and technology-driven development to meet our clients’ needs in a changing world. In some sectors, demand has been high throughout the recession, primarily in cybersecurity and defense. During the quarter, the position in the defense sector has been strengthened further through successful recruitments and focused education efforts that reinforce Knowit’s competence in both military and civilian defense.
“Digital transformation is not just a way to streamline organizations, but also a strategic prerequisite for future competitiveness. We are seeing our clients continue to invest in areas like cloud services, datadriven development, and cybersecurity, where Knowit is well-positioned as one of the leading players in the Nordic region. As we look to the future, we are optimistic about our possibilities to grow once more and take market shares when the market pivots,” says 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 report
Knowit will be holding a presentation of the Interim Report today, Friday February 7. 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 (CET) and will be held in English.
Link to the audiocast: https://www.investis-live.com/knowit/678e32aacddd8c000f42d0b6/laywr
Telephone numbers to the audiocast:
Sweden +46 8 5051 0031
United Kingdom +44 207 107 0613
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.eu/financial-information/
The information contained herein is such as shall be made public by Knowit, in accordance with the EU Market Abuse Regulation. This press release was made public through the agency of President and CEO Per Wallentin, at 7:30 AM CET on February 7, 2025.
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Annika Billberg
Investor Relations
Christina Johansson
Head of Communications
Marie Björklund
CFO