Financial Results for Q1 2021 Shows that Group Revenue Up to 1.2%
In Q1, they experienced continued strong growth within the International Life Sciences business, with Excellis performing to plan. The private & public businesses started to see positive momentum in relation to the Winning Solutions strategy, which now constitutes 49% of NNIT’s revenue. Refer to the full company announcement on the financial results for Q1 2021.
CEO Per Kogut commented: ‘In Q1, we experienced continued strong growth within the International Life Sciences business, with Excellis performing to plan. Our private & public business started to see positive momentum in relation to the Winning Solutions strategy, which now constitutes 49% of NNIT’s revenue. Expectations for 2021 remain positive and we maintain our financial guidance.’
- Group revenue increased to DKK 731m, up 1.2% (-1.7% organic) from Q1 2020.
- Life Sciences (excluding Novo Nordisk Group) grew to DKK 228m, up 43% (30% organic). This increase was mainly related to the continued significant growth of the Life Sciences International business, where revenues increased by 73% (49% organic) to DKK 159m, while revenue from Life Sciences Denmark increased by 3% to DKK 69m.
- Winning Solutions now constitutes 49% of total revenue(44% in Q1 2020).
Selected business highlights
- NNIT implemented a new Microsoft D365 system for an existing customer worth a double-digit DKK million amount.
- An existing Identity & Access Management (IAM) consulting project was expanded to include the implementation of a full IAM suite. The project involved more than 2,000 hours delivered in March and April 2021, with the possibility of further expansion.
- The existing contract with AstraZeneca was extended for IT services and its Veeva Safety Program. Work will be carried out from April 2021 until the end of 2021.
Outlook for 2021
Guidance for 2021 is maintained:
- Revenue growth of 1%-4%.
- Operating profit margin before special items of 6%-7%.
- Investment level of 5%-7% of total revenue excluding acquisitions.
Together with a mark in business and society; bringing digital transformation to life. The NNIT Group provides a wide range of IT and consulting services internationally. In Denmark, where the Group HQ is based, it is one of the leading IT companies, servicing private and public sector customers across all industries. In the rest of Europe, Asia, and the US, we are solely focused on companies within life sciences.
Supporting the entire supply chain, they help optimise internal company processes, production, sales, and customer experiences. They advise, build, operate, and support, enabling digital transformation and customers to reap the full potential of their organisations. Their role is to foster innovation and make the mark of their customers and aspire to. The NNIT Group consists of group company NNIT A/S and subsidiaries Valiance, SCALES, and Excellis Health Solutions. Together, these companies employ over 3,000 people in Europe, Asia, and the US.