Norway's Zalaris Q1 revenue rises on managed services growth

Zalaris ASA

28/04/2026 06:20

Overview

Norway payroll and HCM provider's Q1 revenue rose 0.5% yr/yr to NOK 372 mln

Adjusted EBIT for Q1 fell to NOK 42 mln from NOK 52 mln a year ago

Company signed new long-term contracts totaling NOK 75 mln in annual recurring revenue

Outlook

Company says new HR and payroll contracts will add NOK 75 mln in annual recurring revenue

Result Drivers

MANAGED SERVICES GROWTH - Co said revenue growth was driven by a 7.9% rise in Managed Services

CONSULTING DECLINE - Co said weaker Consulting activity, down 15% in local currency, offset revenue gains

RECURRING REVENUE SHIFT - CEO said stable performance was due to continued shift toward recurring Managed Services revenue

Company press release: ID:nWkrb4KwF8

Key Details

Metric
Beat/Miss
Actual
Consensus Estimate
Q1 Revenue
Miss
NOK 371.90 mln
NOK 405 mln (1 Analyst)
Q1 Adjusted EBIT
NOK 42.30 mln
Q1 EBIT
NOK 29.30 mln


Analyst Coverage

The current average analyst rating on the shares is "buy" and the breakdown of recommendations is 2 "strong buy" or "buy", no "hold" and no "sell" or "strong sell"

The average consensus recommendation for the employment services peer group is "buy"

Wall Street's median 12-month price target for Zalaris ASA is NOK102.50, about 4.2% above its April 27 closing price of NOK98.40

The stock recently traded at 14 times the next 12-month earnings vs. a P/E of 13 three months ago

For questions concerning the data in this report, contact Estimates.Support@lseg.com. For any other questions or feedback, contact reuters.support@thomsonreuters.com.

(This story was created using Reuters automation and AI based on LSEG and company data. It was checked and edited by a Reuters journalist prior to publication.)