Brief: NNIT Increases Revenue Outlook For 2018

Nnit A/S

09/10/2018 13:04

Oct 9 (Reuters) - NNIT A/S  NNIT.CO :
    * REG-NNIT A/S: 9/2018 NNIT ACQUIRES FAST-GROWING US COMPANY TO ACCELERATE DELIVERY OF IT
SERVICES
TO THE INTERNATIONAL LIFE SCIENCES INDUSTRY AND INCREASES REVENUE OUTLOOK FOR 2018
    * CLOSING OF AGREEMENT IS EXPECTED TO BE NOVEMBER 1, 2018.
    * TO ACQUIRE 100% OF SHARES FOR AN UPFRONT PAYMENT OF USD 25.0 MILLION
    * ENTERED INTO AN AGREEMENT WITH SHAREHOLDERS OF VALIANCE PARTNERS TO ACQUIRE 100% OF SHARES
    * EARN-OUT PAYMENT OF USD 10.7 MILLION AT TARGET, DEPENDING ON PERFORMANCE
    * ACQUISITION IS EXPECTED TO GENERATE ADDITIONAL REVENUE IN LAST TWO MONTHS OF 2018 OF
AROUND DKK
15 MILLION CORRESPONDING TO APPROXIMATELY 0.5PP GROWTH IN 2018
    * OUTLOOK FOR 2018 IN CONSTANT CURRENCIES IS INCREASED
    * CLOSING OF AGREEMENT IS EXPECTED TO BE NOVEMBER 1, 2018
    * EXPECTED 2018 REVENUE GROWTH IS INCREASED TO BE 4-7% IN CONSTANT CURRENCIES (PREVIOUSLY
3-6%)
    * 2018: EXPECTED OPERATING PROFIT MARGIN IS MAINTAINED AT 10-10.5% IN CONSTANT CURRENCIES
    * EXPECTED LEVEL OF 2018  INVESTMENTS IS MAINTAINED AT 6-8% OF TOTAL REVENUE AND EXCLUDES
ACQUISITION OF VALIANCE PARTNERS

Source text for Eikon:  ID:nGNEF14f7 
Further company coverage:  NNIT.CO 

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