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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 strong international performance, while the Nordics underperformed.

  • Adjusted EBITDA margin declined to 12.1% due to ongoing investments and higher payroll, with net income rising to NOK 43m, up NOK 33m year-over-year.

  • Net working capital improved to -NOK 1,486m, a NOK 401m improvement year-over-year, marking six consecutive quarters of progress.

  • SoftwareOne achieved over 90% shareholder acceptance for acquisition, with closing expected in Q2 2025 and integration planning underway.

  • Significant headcount increase and integration preparations are supporting future growth and expanded capabilities.

Financial highlights

  • Gross sales reached NOK 17.4bn, up 25% year-over-year; gross profit was NOK 1,546m (+5% YoY); revenue increased 7% to NOK 1,741m.

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

  • Net profit was NOK 43m, with EPS improving to NOK 0.54 from NOK 0.14.

  • Operating cash flow for Q1 was NOK 87m; liquidity reserves at NOK 3,348m; leverage ratio at 0.4x.

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

Outlook and guidance

  • Full-year 2025 guidance: gross profit growth of 15%-20%, adjusted EBITDA margin of 19%-22%, and net working capital as a share of gross profit at 15%.

  • Medium-term goal is a gradual increase in EBITDA margin to 25%.

  • Management expects improved Nordic performance in H2 due to leadership changes and better sales execution.

  • Continued momentum expected from CSP and services growth, with high activity and new contract wins supporting future growth.

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

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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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