CBRAIN A/S

CBRAIN
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cBrain A/S : Adjustment of expectations for growth and earnings

08/03/2021 | 06:11am

cBrain welcomes continued positive development in the second quarter with solid growth in sales of subscriptions and increased exports.

At the start of the year, cBrain announced an expected revenue growth of 15-20% and an expected Earnings before tax (EBT) of 10-15% in the financial year 2021.

cBrain got off to a really good start this year, both in Denmark and internationally, where the internal accounts for the first quarter showed a revenue growth of 30% compared to the same period last year. In connection with the quarterly announcement, cBrain therefore raised its expectations for the year from a revenue growth of 15-20% to a revenue growth of 17-23%.

The preliminary figures for the second quarter show a continued very good development with revenue growth at the same level as in the first quarter. The nice revenue growth in the second quarter is, as in the first quarter, mainly driven by increased exports and sales of software subscriptions.

As a result, expectations for growth in the financial year 2021 are now being raised from a revenue growth of 17-23% to a revenue growth of 21-25%.

The majority of cBrain's revenue comes from the sale of software and software subscriptions, and at the same time, by far the largest share of cBrain's costs are fixed. The increased turnover entails therefore, increased earnings.

At the beginning of the year, cBrain announced expected earnings before tax (EBT) of 10-15%. cBrain invests part of the increased earnings in i.a. exports, but at the same time cBrain is now raising its earnings expectations for the year from earnings before tax (EBT) of 10-15% to earnings before tax (EBT) of 14-16%.

cBrain publishes interim report for the first half of 2021 on 26 August.

Yours sincerely

Per Tejs Knudsen, CEO

Inquiries regarding this notice may be directed to

Ejvind Jørgensen, CFO, cBrain A/S, ir@cbrain.com, +45 2594 4973

Disclaimer

cBRAIN A/S published this content on 03 August 2021 and is solely responsible for the information contained therein. Distributed by Public, unedited and unaltered, on 03 August 2021 09:54:58 UTC.

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