30/2024・Trifork Group AG – Interim report for the quarter and half-year ending 30 June 2024
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Trifork Group AG Company announcement no. 30/2024 Schindellegi, Switzerland – 20 August 2024 Interim Financial Report for the second quarter and half year ending 30 June 2024 |
Trifork Group reports Q2 revenue growth of 0.8% in the core business Second quarter 2024
Comment from CEO Jørn Larsen: “The second quarter and first half of 2024 has been more challenging than we expected going into the year. Amongst private enterprises, we have not yet been able to grow new engagements to a size where they compensate for the loss of revenue from engagements that were delayed or stopped in Q4 and Q1. So overall, revenue for the first half of 2024 was at the same level as in 2023. However, I am pleased to see that after a tough start to the year in our public business in Denmark, we are now winning and delivering on new engagements that have made up for the reduction of scope in other engagements. Our profitability is still below where it should be but we are progressing according to plan with our strategic initiatives. These include selling more of our own software products and platforms, getting our conference activities to run better, and reorganizing our teams and delivery model in Cyber Protection. While we continue investing in business development to widen our sales pipeline, we are at the same time working hard at finding more efficient ways of working to control our costs. We will continue to pursue M&A in the current slow market environment. In Q2, we announced three small acquisitions with high growth potential: Marstrand in Denmark (planning intelligence tools), Spantree Technology Group in the US (scaling of mission-critical systems), and Sapere Group in Denmark (SAP integration). With all the groundbreaking work we are being recognized for, I am still very positive about the medium- and long-term prospects for Trifork Group, even if 2024 is not turning out to be as good as expected.” The financial outlook for 2024 was updated on 19 August 2024 (see company announcement 29/2024) to the following:
Main events in the second quarter of 2024
Results presentation Trifork will host a results presentation and Q&A session with CEO Jørn Larsen and CFO Kristian Wulf-Andersen today, 20 August 2024 at 11:00 CEST in a live webcast that can be accessed via the following link: https://trifork.zoom.us/j/92971745032?pwd=aljGs8x2oYPefEbfpesYRVIdpc94LX.1 A recording will be made available on our investor website. More information can be found at https://investor.trifork.com/events/. For more information, please contact: Investors Frederik Svanholm, Group Investment Director & Head of Investor Relations [email protected], +41 79 357 7317 Media Peter Rørsgaard, CCO Fintech & Head of Press Relations [email protected], +45 2042 2494 About Trifork Group Trifork is a globally pioneering technology partner to its enterprise and public sector customers. The group has 1,273 employees across 74 business units in 15 countries. Trifork works in six business areas: Digital Health, FinTech, Smart Building, Smart Enterprise, Cloud Operations, and Cyber Protection. Trifork’s research and development takes place in Trifork Labs, where Trifork continuously invests in and develops technology companies. Trifork owns and operates the software conference brands GOTO and YOW! and the global GOTO tech community with more than one million online subscribers and 72 million video views. Trifork Group AG is a publicly listed company on Nasdaq Copenhagen. Learn more at trifork.com. |
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