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Comments on the figures for the third quarter of 2022

NorCom Information Technology GmbH & Co. KGaA achieved total output of EUR 7,346k in the first nine month of the fiscal year of 2022 (Q3/2021: EUR 7,627k). The EBITDA (earnings before interest, taxes, depreciation, and amortization) was negative at EUR -96 thousand (Q3/2021: EUR -68 thousand).

Sales in the third quarter fell short of expectations. The primary reason for this is the lack of staff and thus the lack of manpower to be able to fully exploit the potential of the existing projects. To avoid bottlenecks, NorCom relies on external employees. These in turn worsen the margin due to the higher costs, which has a negative impact on EBITDA.

“Our order books are well filled with an order backlog of just under EUR 15 million. However, the shortage of skilled workers is making it difficult for us to achieve the growth spurt we had hoped for. Although we were able to recruit a few new employees in the current financial year, it was by far not on the scale required,” commented Viggo Nordbakk, NorCom's Managing Director, on the latest business development. "Our focus is on intensive recruiting, which is currently the key to success for revenue growth and profitability."

NorCom increased its recruiting efforts in the third quarter and relies, among other things, on social networks. There the recruiting process can be shortened as a larger group of people can be addressed quickly.

New industry solutions from DaSense

With the AI ​​software solution DaSense, NorCom offers solutions tailored to specific industries.

With the DaSense IIoT divisional solution, NorCom offers a central AI platform for the control, monitoring and management of production processes in industrial groups. DaSense IIoT takes over the AI ​​control of production systems and networks all machines and sensors involved as well as the controlling software. Incoming data is recorded, analyzed, and related, thus enabling intelligent processes. DaSense IIoT automates smooth communication between the systems and monitors their performance, functionality, and utilization over the entire lifecycle.

NorCom also offers DaSense as a tailor-made solution for authorities. DaSense Community is an open-source solution for the implementation of the digitization desired by politics.

Authorities are very different in terms of their purpose and orientation - but almost all administrations have in common the fast, secure work with large, sometimes confidential data and document volumes. Reading in, organizing, and making data and documents available takes up a large part of the working time. DaSense Community automates these routine tasks from day one.


Due to the recruitment challenges described above, NorCom will not be able to achieve its sales quite as planned and are in the lower corridor of the forecast. The EBITDA also suffers from the low margin, which arises due to a high proportion of external employees


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