Zalaris — Stable quarter
29/04/2026
Zalaris reported a good quarter for new business in Managed Services and a stable revenue quarter for the group as a whole. Adjusted EBIT declined due to lower Zalaris Consulting revenue and business development activity in both divisions. Lower interest costs and a lower tax rate resulted in a small year-on-year increase in net income and EPS. The company maintained its medium-term revenue and margin guidance. Zalaris is currently in an offer period, with investors offered a cash price of NOK100 per share.
Zalaris — Managed Services drive record performance
09/03/2026
Zalaris reported record FY25 revenue, with growth of 11.7% and an adjusted EBIT increase of 31.5% y-o-y (margin 12.9%). Managed Services (MS) continues to be the driver of growth and the business saw a pick-up in new business in Q425. Zalaris Consulting (ZC) performance was disappointing, with cost overruns in the APAC region contributing to a second loss-making quarter. Management continues to target double-digit revenue growth and margins of 13–15% and is increasingly embedding AI in its operations to improve productivity. Due to the weaker performance in ZC, we have taken a more conservative approach to our FY26 forecasts.
Zalaris – executive interview
02/03/2026
In this interview, Zalaris founder and CEO Hans-Petter Mellerud introduces the company and provides the highlights of the company’s recent FY25 results. He discusses the company’s geographic expansion plans and provides an update on progress in Asia Pacific. He explains that he sees AI as a structural margin and competitiveness enhancer, reducing manual work, shortening implementation timelines and improving quality. While AI can improve automation, it does not eliminate the need for compliance oversight and domain expertise. Zalaris’ shared services model means it can scale its AI investments across the entire customer base, strengthening its competitive position. Finally, Hans-Petter outlines the medium-term targets for the company and explains how it expects to achieve them. Zalaris is an Oslo-listed leading provider of comprehensive payroll and HR solutions and services that cover the entire employee lifecycle. The company operates in 18 countries across the Nordics, DACH region, the UK and Ireland and Asia-Pacific, serving over 1.5 million employees every month across all its HR solutions.
Zalaris — Debt refinanced, growth on track
27/10/2025
Zalaris reported record revenue and adjusted EBIT in Q325, with continued growth in the Managed Services business more than offsetting a slower quarter for Zalaris Consulting. The company has secured refinancing for its eurobond, which should reduce net finance costs and increase flexibility for capital allocation. Zalaris continues to make good progress towards its medium-term revenue and adjusted EBIT margin targets.
Zalaris — Moving to the next stage of growth
02/10/2025
Zalaris has built an impressive track record over the last five years, with a revenue CAGR of 11.6% and adjusted EBIT margins growing from 7.0% to 11.0% from FY20 to FY24. The company is on track to hit its original FY26 targets early and has set ambitious targets for FY28. With long-term customer relationships and a low churn rate, Zalaris has good revenue visibility due to a high proportion of recurring revenues. Focused on multinational customers with a strong presence in Europe, the company has been winning progressively larger contracts and has the opportunity to expand further in Europe and the Asia-Pacific region (APAC).