Cyviz doubles turnover | Finansavisen

Cyviz doubles turnover |  Finansavisen

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Operating income increased to NOK 137 million compared to NOK 69.5 million in the same period last year.

– We are seeing strong demand for our advanced interaction solutions across all regions and customer segments, says Cyviz Managing Director Espen Gelvik in a comment.

Expect continued growth

The defense sector and the public sector in particular contribute to the high turnover of the video conferencing company.

We have a strong starting point for continued growth in the coming quarters. The defense sector was a strong driver of growth in order intake in the first quarter. At the same time, we’ve noticed that many energy companies in both Europe and the Middle East have placed large orders for reaction rooms, control rooms and visualization rooms, Jelvik says.

In the letter, the company wrote that the future prospects are positive, and it reiterates its target of 30 percent annual sales growth.

Operating profit was minus NOK 3.1 million, but still an improvement over the first quarter of last year. Then the figure was negative at NOK 22.9 million.

Total order reserve is NOK 302 million at the end of the first quarter. This represents growth of NOK 80 million, or 36 percent, over the same period last year.

(NK million) First quarter / 2023 First quarter / 2022
operating income 137 69.5
playback result −3.1 -22.9
The result is before taxes −0.1 -25.4

Hanisi Anenih

Hanisi Anenih

"Web specialist. Lifelong zombie maven. Coffee ninja. Hipster-friendly analyst."

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