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Crayon Group (CRAYN) investor relations material

Crayon Group Q1 2025 earnings summary

Complete event summary combining all related documents: earnings call transcript, report, and slide presentation.
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Q1 2025 earnings summary21 May, 2025

Executive summary

  • Gross profit grew 5% year-over-year to NOK 1,546m, driven by international markets, while Nordic performance was softer.

  • Adjusted EBITDA margin declined to 12.1% from 13.8% due to investments, higher payroll, and incentive payouts.

  • Net income improved to NOK 43m, up NOK 33m year-over-year, supported by lower interest expenses and currency gains.

  • Net working capital improved to minus NOK 1,486m, a record level after six consecutive quarters of improvement.

  • SoftwareOne's acquisition reached over 90% acceptance, with closing expected in Q2/Q3 2025.

Financial highlights

  • Gross sales rose 25% year-over-year to NOK 17,354m; revenue increased 7% to NOK 1,741m; gross profit up 5% to NOK 1,546m.

  • Adjusted EBITDA was NOK 186m (margin 12.1%), down from NOK 203m (13.8%) in Q1 2024.

  • Net working capital improved by NOK 401m year-over-year, ending at -NOK 1,486m.

  • Leverage ratio (net debt/EBITDA) improved to 0.4x, with liquidity reserves at NOK 3,348m.

  • Factoring reduced to NOK 122m from NOK 247m year-over-year.

Outlook and guidance

  • 2025 guidance targets gross profit growth of 15–20% and adjusted EBITDA margin of 19–22%.

  • Net working capital expected to remain around -15% of gross profit.

  • Management expects Nordic performance to accelerate in H2 after leadership changes.

  • SoftwareOne acquisition expected to close in Q2/Q3 2025, with compulsory acquisition of remaining shares planned.

  • Back-end loaded growth expected for the remainder of the year, with momentum in CSP and services.

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Frequently asked questions

Crayon Group Holding ASA, operates as an IT advisory company in software and digital transformation services. The company provides solutions in the areas of business intelligence and data science, including artificial intelligence, cloud computing, and blockchain technology. It focuses on five customer groups: telecommunications and media companies; utilities; airlines, airports, and travel entities; manufacturing operations; and public institutions.

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