Industry

Information Technology

Sector

Software

Country

Denmark

Company description

NNIT A/S is a Danish IT company that provides a range of IT services such as IT consultancy, development, implementation and outsourcing of IT services. The customers primarily operate in the life sciences sector in Denmark and Internationally. However, the company also serves public institutions, finance sector customers and more. NNIT A/S is headquartered in Soborg, Denmark and was founded in 1994.

Market cap.

DKKm 4,470

Share price

DKK 183

Earnings per share (EPS)

DKK 10

Dividend per share (DPS)

DKK 5

Price / earnings

19.0x

Price / sales

1.5x

Price / book value

4.1x

Enterprise value / EBITDA

10.0x

CEO

Per Kogut

Chairman of the Board of Directors

Carsten Dilling

CFO

Carsten Thomsen

Investor relations

Klaus Skovrup

Ticker symbol

NNIT

Stock exchange

Nasdaq OMX Copenhagen

ISIN code

DK0060580512

Phone

0045 7024 4242

Website

nnit.com

Address

Oestmarken 3A, 2860 Soborg

Income statements

DKKm 201320142015201620172018
Sales 2,2052,4102,6002,7652,8513,007
Other income 000000
Total income 2,2052,4102,6002,7652,8513,007
Total expenses -1,850-2,021-2,190-2,327-2,437-2,545
EBITDA 354389410437415463
Depreciation tangible assets -100-116-133-137-144-141
Write-downs tangible assets 000000
EBITA 254273277301271322
Amortisation intangible assets -8-8-8-8-8-14
Income from associated companies 000000
Earnings before interest and taxes (EBIT) 246265269293262307
Financial income 17297511
Financial expenses -12-5-26-20-15-13
Income from associated companies 000000
Earnings before taxes (EBT) 235268272280252305
Taxes -50-58-60-65-54-70
Profit from continuing operations 186209212216199236
Discontinued operations 000000
Minorities 000000
Net profit or loss 186209212216199236

Cash flow statements

DKKm 201320142015201620172018
EBITDA 354389410437415463
Net interest paid -1-1-5-3-13-13
Taxes paid -45-82-76-51-80-63
Investments in working capital -39-10-14-69-11-62
Other operating cash items -15183749114114
Cash flow from operations (CFFO) 254316353363425439
Capital expenditures (capex) -55-163-142-174-340-160
Acquisitions 0000-98-162
Disposals 000000
Other investing cash items 000000
Cash flow from investing activities -55-163-142-174-438-323
Free cash flow to equity holders (FCFE) 200153211188-13116
Dividends paid -108-290-84-146-102-105
Share buy-backs 00-9400-37
New share issues 000000
Increase/(decrease) in debt 000093149
Other financing cash flows -100-78-90
Cash flow from financing activities (CFFF) -108-291-177-146-87-83
Discontinued activities and other 00000
Net cash flow / Change in cash position -1373343-9933

Balance sheets

DKKm 201320142015201620172018
Goodwill 0000168367
Other intangible assets 433528334465
Total intangible assets 43352833212432
Fixed tangible assets 365401402413574594
Shares and associated companies 000000
Other financial assets 212200370372
Deferred tax assets 4644526539
Other non-current assets 002829143144
Total fixed assets 4334655025271,3631,581
Inventories 222322
Trade receivables 341430489605575501
Other current assets 265288212282308354
Cash and cash equivalents 2359813117475108
Total current assets 8438188341,063959964
Total assets 1,2761,2821,3361,5912,3222,544
Equity 7656847418469741,085
Non-controlling interests (minorities) 000000
Shareholders equity 7656847418469741,085
Pension liabilities 121739351516
Deferred tax liabilities 040003
Long-term provisions 358112525
Convertible debt 000000
Long-term debt 000000
Other long-term liabilities 0000353412
Total long-term liabilities 15254746393454
Short-term debt 000093243
Trade payables 11611173595997
Other current liabilities 380462475639803665
Total current liabilities 4965735486989551,005
Total equity and liabilities 1,2761,2821,3361,5912,3222,544

Growth rates

[%] 201320142015201620172018
Sales growth 0.0%9.0%8.0%6.0%3.0%5.0%
EBITDA growth 0.0%10.0%5.0%7.0%-5.0%12.0%
EBITA growth 0.0%7.0%1.0%9.0%-10.0%19.0%
EBIT growth 0.0%8.0%1.0%9.0%-10.0%17.0%
EBT growth 0.0%14.0%2.0%3.0%-10.0%21.0%
Earnings growth 0.0%13.0%2.0%2.0%-8.0%19.0%

Margins

[%] 201320142015201620172018
EBITDA-margin 16.0%16.0%16.0%16.0%15.0%15.0%
EBITA-margin 12.0%11.0%11.0%11.0%9.0%11.0%
EBIT-margin 11.0%11.0%10.0%11.0%9.0%10.0%
EBT-margin 11.0%11.0%10.0%10.0%9.0%10.0%
Earnings-margin 8.0%9.0%8.0%8.0%7.0%8.0%

Other key figures

DKKm 201320142015201620172018
Tax rate 21.0%22.0%22.0%23.0%21.0%23.0%
Net working capital balance (NWC) 1121471551912394
Net interest bearing debt (NIBD) -223-81-92-13934151
Invested capital (including goodwill) 5426036497071,0081,236
Invested capital (excluding goodwill) 542603649707840869
Enterprise value (EV) -223-814,4794,8084,1934,621

Share data

201320142015201620172018
Shares outstanding, millions (excl. treasury) 0024242424
Market capitalisation (DKKm) 004,5714,9474,1594,470
Market capitalisation (DKKm) 004,5714,9474,1594,470
Share price (DKK) 0.00.0188.5204.0171.5183.2
Earnings per share (EPS), (DKK) 7.48.48.88.98.99.6
Dividend per share (DPS), (DKK) 5.63.44.04.24.34.6

Price multiples

201320142015201620172018
Price/Earnings (P/E) 0.0x0.0x21.5x22.9x20.9x19.0x
Price/Sales (P/S) 0.0x0.0x1.8x1.8x1.5x1.5x
Price/Book value (P/B) 0.0x0.0x6.2x5.8x4.3x4.1x

Enterprise value (EV) multiples

201320142015201620172018
Enterprise value/Sales (EV/Sales) -0.1x0.0x1.7x1.7x1.5x1.5x
Enterprise value/EBITDA (EV/EBITDA) -0.6x-0.2x10.9x11.0x10.1x10.0x
Enterprise value/EBITA (EV/EBITA) -0.9x-0.3x16.2x16.0x15.5x14.4x
Enterprise value/EBIT (EV/EBIT) -0.9x-0.3x16.6x16.4x16.0x15.0x