Crayon reports 23% gross profit growth in Q2

(OSLO, Norway)  —  Crayon Group Holding ASA (OSE: CRAYN), a global leader in IT services and innovation, today reported its second-quarter results with a gross profit growth of 23%.

The increase was driven by the need for software and cloud, particularly in Europe and the Nordics.

“Savings on software and cloud spend continue to resonate in this macroeconomic environment where CIOs are faced with cost pressures and expectations to deliver maximum ROI,” said Crayon CEO Melissa Mulholland. “With our capabilities and services-led go to market, we are in a unique position to capture market opportunity, further drive growth, and create more customer value.”

Crayon delivered over 1.5 billion NOK in gross profit in Q2. It’s driven by strong performance from the Nordics, which was up 16%, Europe increased by 50%, and the US was 31%.

Europe’s consistent growth of 50% over the last two quarters demonstrates the scalability of Crayon’s business model based on the increased focus of winning market share on software and cloud.

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CEO Melissa Mulholland and CFO Jon Birger Syvertsen will present the results in a live webcast at 8:30 am CET that can be accessed at www.crayon.com/investor-relations. A recording of the webcast will be available on-demand after the live event has concluded.