January 26, 2017/ KOREA IT TIMES--The Supervisory Board of RTX A/S has today considered and adopted the Group’s interim report for the first quarter of the 2016/17 financial year (covering the period 01.10.2016 – 31.12.2016).
SUMMARY FOR THE FIRST QUARTER OF 2016/17 FOR THE RTX GROUP
- Net revenue amounted to DKK 111.3 million for the first quarter of the 2016/17 financial year corresponding to a revenue increase of 21.2% compared to last year’s net revenue of DKK 91.8 million. Growth over the quarter was positively affected by the positive exchange rate for USD and negatively affected by the ceased income from external leaseholders after the sale of the premises in January 2016. Corrected for these effects the growth in revenue amounted to 21.6%. Revenue apportioned across RTX’s business units as follows:
- Business Communications rose by DKK 16.3 million corresponding to an increase of 26.9% (after exchange effect 26.2%).
- Design Services rose by DKK 4.1 million corresponding to an increase of 13.4% (after exchange effect 12.5%).
- The Group’s gross profit increased from DKK 54.2 million to DKK 60.1 million and as a consequence of the revenue mix, the gross margin decreased from 59.0% to 54.0%.
- After the sale of the premises, the capacity costs now comprise increased costs for external rent. The increased demand for RTX’s competencies has made it necessary to increase staff. These are the two main reasons for the capacity costs in the first quarter at a level 12.1% higher than last year.
- As mentioned in the annual report for 2015/16 RTX is investing in the development of a new product range that will complement the existing communication solutions. These investments mean that RTX has capitalised DKK 1.7 million in the first quarter of 2016/17.
- Operating profit (EBIT) amounted to DKK 15.1 million compared to DKK 12.1 million last year corresponding to an increase of 24.8%.
- Profit after tax amounted to DKK 11.8 million compared to DKK 9.8 million last year.
- The Group’s cash flow from operating activities amounted to DKK -12.6 million compared to DKK 2.6 million in the same period last year. The primary reason is the increased revenue which raises the receivables in the balance sheet. At the same time RTX paid taxes of DKK 4.4 million related to the financial year 2015/16.
- The development in the first quarter is in line with the expectations announced in the annual report for 2015/16 (company announcement no. 74/2016 dated 29 November 2016), when RTX announced an expected revenue in the range of DKK 420-435 million, EBIT in the range of DKK 68-75 million and EBITDA in the range of DKK 73-80 million.
President & CEO