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Fr, 29.05.2020 10:00
pta20200529012
Business news for the stock market
NorCom Information Technology GmbH & Co. KGaA: Comment on the first quarterly figures for 2020
München (pta012/29.05.2020/10:00) -
NorCom Information Technology GmbH & Co.KGaA (ISIN DE000A12UP37, General Standard) started the year 2020 steadily with a total output of EUR 3.5 million (Q1 2019: EUR 3.4 million). EBITDA (earnings before interest, taxes, depreciation and amortization) was positive at EUR 0.1 million (Q1 2019: EUR 0.2 million).
"With our existing orders, we were in calm waters in the first quarter - with the prospect of significant new orders. At the end of the first quarter, the Corona crisis reached the economy, which overruled all planning and strategies and posed completely new challenges for companies indefinitely," comments Viggo Nordbakk, Managing Director of NorCom, about the business situation. "From today's point of view, the first quarter is definitely positive - slight sales increases compared to the previous year and still a good result is a satisfactory balance in the current situation. In the second quarter, the effects of the Corona savings plans will become clearer in the figures. However, with the public authorities, we count clients among our customers, who enable ongoing business even in times of crisis. "
Diversification in all business areas
Diversification of Consulting / Services
The NorCom Academy was also established, in which NorCom organizes a tried and tested range of training courses on the practical application of Big Data & AI technologies under one roof. Thanks to virtual classroom technology, all training courses can be carried out in full as webinars - and thus offer an attractive opportunity for further training, especially in the current situation.
Diversification of Products
The Big Data Platform EAGLE serves cross-team collaboration and AI-based knowledge management. On the one hand, the expansion to the "legal area" was pushed forward in the first quarter: NorCom was able to gain two law firms as partners for the development of EAGLE4Legal. In the first stage, functions for the subject areas of litigation and due diligence are implemented. The software is to be used both in law firms and in the legal departments of large corporations. With EAGLE 2.0, a new version of EAGLE was developed, which enables a lean entry into enterprise file management without migration and the secure management of any number of files and authorizations on file servers.
New business area Solutions
Partnerships
Outlook
The public sector is currently still stable. In this area, NorCom focuses on expanding existing projects and winning additional ones. With the greatly expanded product portfolio and intensive sales activities, NorCom wants to open new opportunities in other industries. (Ende)
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