Successful annual result 2016 - outlook for profitable growth in 2017

04/11/2017

After the end of the 2016 financial year, NorCom IT AG achieved a total output of EUR 18.1 million (previous year: EUR 16.5 million) and an EBIT of EUR 1.6 million (previous year: EUR 1.1 million).

"The successful development of our big data business is reflected in the 2016 business figures. The growth in sales is based on this strategically important area", says Viggo Nordbakk, CEO of NorCom IT AG. "The industry-independent orientation of the products promises profitable growth in 2017 as well, as well as expansion to new use cases."

NorCom Information Technology (ISIN DE000A12UP37, General Standard), which is listed on the German stock exchange, was able to boast significant successes in the previous year: the desired license agreement for the assistance-based communication platform EAGLE was achieved. The contract for the use of the software solution in the Audi Group was signed at the end of October. In the next two years, EAGLE will be expanded to the full range of functions at Audi.

The intelligent and powerful big data platform DaSense was brought to market maturity, was able to pass the first practical tests and is attracting increasing interest.

NorCom was able to double its big data business in 2016. Based on the asset-based consulting business model, NorCom has a consistently high occupancy rate and is continuously expanding its team of big data experts.

In the Big Infrastructure sector, NorCom won three lots from the Federal Employment Agency for operational support over the next three years up to 2019.

Outlook 2017
The signs point to further growth: The aim is to expand ongoing projects with EAGLE and DaSense for existing customers and to acquire new customers based on the positive references. With DaSense 3.0, NorCom can now serve the increasing demand for big data solutions across all industries. NorCom was able to win two more new customers for the big data platform in 2017. The following licensing business should increase margins and achieve a further increase in EBIT.