First quarter 2023 financial results

27 Apr 2023 07:00 CEST

Zalaris ASA (Zalaris, OSE:ZAL) reported record-high revenues in the first
quarter of 2023 of NOK 260.1 million, up 25 percent from the same period in
2022, reflecting strong underlying fundamentals.

"The company grew more than 25 percent in the quarter, and 17 percent in
constant currency, and delivered the fifth consecutive quarter with all time
high revenues. We closed the quarter with all-time-high volume of new signings
in Managed Services that in total generated around 75% of our sales target for
the year, and we are well on track to deliver on our target of generating NOK 1
billion in revenue by the end of 2023." says Hans-Petter Mellerud, Chief
Executive Officer of Zalaris.

The reported revenues of NOK 260.8 million in the first quarter of 2023 compares
to NOK 208.4 million in the first quarter 2022. Adjusted EBIT*, excluding the
APAC operations launched in 2022, was NOK 21.0 million in the first quarter,
compared to NOK 14.8 million in the first quarter of 2022. The reported EBIT
ended at NOK 12.8 million compared to NOK 8.4 million to the first quarter of
2022.

The EBIT improvement project is on track and continues to be Zalaris' number one
priority. The plan is for EBIT improvements of 40 - 50 million by the end of
2023.

"With our recently signed agreements we will soon cover more than fifty
countries with our existing solutions and services. Including setting up own
solution delivery capability together with partners in important markets as
North America, China, and South America, significantly increasing the Total
Addressable Market for Zalaris.", Mellerud concludes.

Zalaris will host a streamed management presentation at 08:30 CET today followed
by a Q&A session. The webcast will be available on ir.zalaris.com or directly on
Teams (https://teams.microsoft.com/l/meetup
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?context=%7B%22Tid%22%3A%22a16eb8e2-803d-4f22-849c
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-e3cd579293a1%22%2C%22IsBroadcastMeeting%22%3Atrue%2C%22role%22%3A%22a%22%7D&bty
p
e=a&role=a).

The presentation of the first quarter 2023 financial result and the financial
report are enclosed.

· Zalaris ASA Q1 2023 Presentation (https://ir.zalaris.com/wp
-content/uploads/sites/3/2023/04/Zalaris-ASA-Q1-2023-Presentation.pdf)
· Zalaris ASA Q1 2023 Report (https://ir.zalaris.com/wp
-content/uploads/sites/3/2023/04/Zalaris-ASA-Q1-2023-Report.pdf)

* Adjusted EBIT and other alternative performance measures (APMs) are defined
and reconciled to the IFRS financial statements as a part of the APM section of
the first quarter 2023 financial report on page 22 to 24.

Contact:

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

Gunnar Manum, CFO
Mobile: +47 951 79 190
E-mail: gunnar.manum@zalaris.com

About Zalaris

Zalaris (OSLO: ZAL) simplifies HR and payroll administration and empower
customers with useful information so that they can invest more in people. We are
a leading service provider of Human Experience Management (HXM) solutions across
Europe, serving more than 1.5 million employees with an annual revenue of NOK
893 million  (2022). We hold #1 or #2 positions in most of our markets. Our
consultants have more than 22 years of experience in transforming HR with our
clients. Simplify work life. Achieve more. For more information, go to
www.zalaris.com.

This information is considered to be inside information pursuant to the EU
Market Abuse Regulation and is subject to the disclosure requirements according
to section 5-12 of the Norwegian Securities Trading Act. The information was
submitted for publication by [Gunnar Manum], CFO, on behalf of the company on
the time and date set out above.

More information:
Access the news on Oslo Bors NewsWeb site

588710_Zalaris_ASA_Q1_2023_Presentation.pdf
588710_Zalaris_ASA_Q1_2023_Report.pdf