Cyviz AS - Record High Order Intake of NOK 384 million and EBITDA of NOK 20 million in Q4
Cyviz AS publishes its financial results for the fourth quarter of 2023 today, with an order intake of NOK 384 million and EBITDA of NOK 20 million, up 169% and 14% compared to Q4 2022 respectively.
The fourth quarter of 2023 concluded with a significant increase in order intake, culminating in a record-breaking quarter for Cyviz. The company secured numerous deals across its four regions, including a substantial strategic agreement with Aker BP and new deals with Microsoft.
"The fourth quarter marks a significant milestone for Cyviz, with an exceptional order intake and strong revenue and EBITDA performance. These achievements reflect our commitment to strategic growth and strength despite industry challenges," says CEO Espen Gylvik at Cyviz.
Key highlights for 2023:
- Revenue grew by 21% from NOK 486 million to NOK 585 million, reflecting sustained growth throughout the year.
- EBITDA increased by 208% from NOK 9 million to NOK 28 million, underscoring the company's operational efficiency.
- Order intake rose by 29% from NOK 589 million to NOK 757 million, indicating strong market demand and Cyviz' ability to capture new opportunities.
These achievements are a result of the strategic plan initiated during Cyviz’ public listing in 2020 and the company’s diversification strategy launched in late 2021. This strategy was designed to expand Cyviz’ market reach and mitigate the impact of market changes across regions and industries.
During the fourth quarter, Cyviz AS made significant changes in top management, appointing a new Chief Technology Officer (CTO), Chief Financial Officer (CFO), and Chief People and Communications Officer (CPCO). The previous CTO remains in the company, focusing on strategy and business development.
Outlook for 2024
Entering 2024, Cyviz’ order backlog has significantly increased from NOK 273 million to NOK 443 million, representing a growth of 62%, setting a solid foundation for continued profitable growth. The company remains focused on its strategic goals, including increasing the recurring revenue segment of its business and maintaining profitability.
The company reiterates its medium-term target of 15-20% EBITDA margin, reflecting its confidence in sustained growth and operational excellence.
Disclosure regulation
This information is subject to the disclosure requirements pursuant to Section 5-12 the Norwegian Securities Trading Act.
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About Cyviz
About Cyviz
Cyviz is a global technology provider for comprehensive conference and control rooms as well as command and experience centers. Since 1998, we have created next level collaboration spaces, assuring inclusive meeting experiences for in person and remote attendance.
Cyviz serves global enterprises and governments with the highest requirements for usability, security, decision making and quality. The cross-platform experience Cyviz delivers to manage and control systems and resources across the enterprise, makes Cyviz the preferred choice for customers with complex needs.
Find out more on www.cyviz.com or visit one of our Cyviz Experience Centers in Atlanta, Benelux, Dubai, Houston, Jakarta, London, Oslo, Riyadh, Singapore, Stavanger, or Washington DC.
Cyviz is listed on Euronext Growth at the Oslo Stock Exchange (ticker: CYVIZ).
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