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Integration completed, well positioned for further growth

 

Zalaris' Q2/18 revenues reached NOK 189 million, a 49 per cent growth compared
to Q2/17. Long-term revenues show a clear trend: Zalaris nearly doubled in size.
Extended BPO agreement signed with SAP for another 5 years.

Operating revenues in the first half of 2018 were 61 per cent higher than in the
corresponding period of 2017, and Q2/18 revenues reached NOK 189 million.
Rebranding and integration of acquired business have been completed during the
first half of 2018.

"All acquired entities are now flying the Zalaris flag. Integration is
completed, and we are well positioned for further growth with a scalable
organization and business model," says Hans-Petter Mellerud, Zalaris' CEO and
founder.

Revenues have almost doubled in size since mid-2016, and Zalaris continued both
organic and non-organic growth throughout Q2/18.

Profits marked by integration
Group operating profit for Q2/18 was NOK 1.5 million, representing a 0.8%
margin. Profits were marked by post-merger integration and GDPR related
activities.

"The growth and integration initiatives have made their mark on the profits to
date for the year. The bottom line is clearly unsatisfactory at first instance,
but this is a transitory situation in line with our plans. The integration
efforts will enable synergy realization and margin improvement going forward,"
Mellerud says.

A key priority is to take full advantage of investments made in new systems,
structures and geographical reach.

Markets are responding well
Talent management is becoming increasingly important, and Zalaris' customers
continue to look for partners who can support them in building the next
generation multi-process HR solution on common digital platforms across borders.

"Whereas each individual market is developing in its own pace, demand for
Zalaris-type services is strong," says Mellerud.

Zalaris celebrated go-live for delivery of payroll and other transactional HR
services for Statkraft in Norway, Europe's largest generator of renewable
energy. BPO operations were started in the UK with Statkraft in Q2 as the first
live customer in the country. A milestone contract landed with a leading
German-based engineering and project management company to help optimize its HR
processes by using the highly recognized SAP SuccessFactors solutions. 

"This contract is a relevant example of how Zalaris is utilizing its newly
acquired advisory capacity in combination with group wide capability to expand
into new customer relationships," Mellerud says.


Contact
Hans-Petter Mellerud, CEO and founder
Mobile: +47 928 97 276
E-mail: hans-petter.mellerud@zalaris.com

About Zalaris 
Zalaris excels in delivering comprehensive cloud- based HR and payroll services.
The company is certified as a SAP Business Process Outsourcing (BPO) Partner and
is a leading 
SAP Human Capital Management (HCM) and SuccessFactors consulting partner.
Founded in 2000, Zalaris today operates in Denmark, Estonia, Finland, India,
Latvia, Lithuania, 
Norway, Poland, Sweden, Germany, Spain, the UK and Ireland including
local-language service centers with extensive expertise in HR- related laws and
regulations. Learn more about Zalaris at www.zalaris.com