At the beginning of the year, cBrain announced an expectation of revenue growth of 12-15% and earnings before tax (EBT) of 7-10% for the financial year 2020.
cBrain had a good spring, where the results up to June showed that both order intake and production, in the form of project deliveries and services, were higher than expected. In June, cBrain therefore raised its expectations from a revenue growth of 12-15% to a revenue growth of 14-16% for the financial year 2020.
The good development is maintained in the period June-July, both in terms of order intake and project deliveries. As a result, cBrain is further raising its expectations for revenue growth of 16-18% for the financial year 2020.
cBrain welcomes the development, not least that the good development has been maintained both for cBrain's activities in Denmark and internationally.
Developments in the spring meant that cBrain increased its investments in growth and internationalization. As a result of the continued good development over the summer, these investments are now increasing further.
cBrain therefore expects significant growth in total costs from the first half of 2020 to the second half of 2020. But at the same time, cBrain also expects a higher earnings ratio than originally expected, and therefore raises its earnings expectations to earnings before tax (EBT) of 8-11% for the financial year 2020.
It is noted that cBrain will publish financial statements for the first half of 2020 on 27 Aug.