NorCom closes 2014 with a positive result

04/29/2015 9:16 PM

NorCom Information Technology AG confirms the positive trend of the last few quarters and achieved a clearly positive annual result for the 2014 financial year.

Due to the strategic repositioning and the ongoing restructuring measures, the company achieved a slightly reduced total output of EUR 15,454 thousand in the 2014 financial year (2013: EUR 18,740 thousand or EUR 16,339 thousand without sold investments. EBITDA (earnings before interest, taxes, depreciation and amortization) was but closed with a solid plus of EUR 506 thousand (2013: EUR -3,459 thousand). EBIT (earnings before interest and taxes) was also positive in 2014 at EUR 435 thousand (2013: EUR -3,824 thousand).

After turbulent and challenging years, NorCom confirmed its trend reversal in 2014. For 2015, NorCom plans to continue this development through targeted expansion into new growth markets, which should be reflected in moderate growth in sales and earnings. The focus is on the "Asset Based Consulting" business model with which NorCom's success story began over 25 years ago. This model avoids risky and capital-intensive preliminary work and cost-intensive subsequent adjustments to standard products are no longer necessary for customers.

Thanks to this individual approach, NorCom retains a high degree of flexibility in order to react quickly to changed market conditions and customer requirements.

"The annual result has met our expectations with regard to strategic realignment, positive earnings contribution and financial consolidation. The restructuring measures have had a successful effect and have been confirmed by the 2014 business figures," explains Viggo Nordbakk, CEO and company founder of NorCom IT AG.

"We aim to continue our business success in the big data environment and want to achieve significantly growing sales contributions and customer gains in this market in the current financial year. With our innovative software assets and our experience in handling smart big data, we support our customers in getting the latest Integrate market developments. "