Cyviz AS – Q1 2024: EBITDA up 89 percent, and free cash flow of NOK 24 million
Cyviz AS today announces its financial results for the first quarter of 2024.
The company nearly doubled its EBITDA result to NOK 5.2 million in the first quarter and generated a free cash flow of NOK 24 million. Revenues were NOK 106.6 million, down from NOK 137 million last year, more than offset by the shipment of higher-margin goods which increased the gross margin by NOK 5.9 million. This lower-revenue, higher-margin effect is temporary and tied to larger projects with revenue and costs spread over multiple periods.
Order intake was NOK 91.4 million, a decrease from the first quarter in 2023, aligning with expectations due to a particularly high order intake in Q4-23. With an order backlog of NOK 428 million, an increase from NOK 302 million in Q1 2023, and a strong pipeline for 2024, Cyviz is well-positioned for continued profitable growth.
"Our focus on profitable growth and positive cash flow is starting to prove results. Our backlog, pipeline, strategic initiatives, and focus on operational efficiencies indicate a positive development for 2024.", says Espen Gylvik, CEO of Cyviz.
Cyviz has a medium-term target of a 15-20% EBITDA margin.
Cyviz AS presents its results for the first quarter of 2024 today, Thursday, May 16th, at 09:00 (CET), inviting investors, analysts, and other interested parties to a live webcast.
Webcast link: https://channel.royalcast.com/landingpage/hegnarmedia/20240516_1/
The report, presentation, and link to the recording of the webcast are available at: https://www.cyviz.com/investor-relations/
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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