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Financials and investor relations

Take a look at our financial reports and key figures.

Cegal has grown from a local startup to an international player

We have delivered steady EBITDA growth since our incorporation, and here are some details about facts and numbers.

Cegal´s three main areas of business are: Industrial Software, Consulting and Managed Services, and Cloud Operations.

Cegal develops and sells software to extend, improve and speed up workflows, and we offer development of high-quality customized software solutions. In 2021, software represented 17% of our revenues.

Cegal offers highly experienced on-site consultants and expert geomodelers, multi-skilled consultants, organized in teams and in individual engagements providing value-adding services to our clients. Our service areas are: Operator Readiness, Business Improvement Services, and Business Professionals for hire. In 2021, consulting represented 26% of our revenues.

Our cloud-based solutions provide high-performance IT systems and customized software solutions to more than 15,000 end users. We support more than 1,300 applications, and our support center offers a single point of contact for all IT-related questions. We have five datacenters and more than 120 customers. In 2021, Cloud Operations represented 56% of the group’s total revenues, of which almost all is long-term recurring revenue.

Other non-commercial resale represented
less than 1% of our revenues in 2021
compared to 5% in 2020

 

“With significant investments in a scalable cloud, software and consultancy portfolio over the last years, we are now well positioned to unleash the digital potential of sustainable and meaningful industries.”
Dagfinn Ringas CEO

Ownership

Cegal is owned by the private equity firm Norvestor, the founders of the company, and employees. Norvestor SPV I Holding AS with funds managed by the private equity team of DWS and Argentum acting as cornerstone investors owns 74.2% of Cegal.

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