NNIT A/S reported earnings results for the year 2016. For the year, revenue increased by 6.3% to DKK 2,765 million in reported currencies and by 6.4% in constant currencies. Revenue increased by 18.8% from customers outside the Novo Nordisk Group while revenue from the Novo Nordisk Group declined by 5.9%. Operating profit increased by 8.8% to DKK 293 million in reported currencies driven by improved results in IT Operation Services. Net profit increased by 1.5% to DKK 216 million as the improvement in operating profit was partly countered by a loss on currency hedges, a negative value adjustment of the Novo Nordisk shares used to hedge NNIT's long term incentive program before 2015 and an increase in the effective tax rate. Free cash flow was DKK 188 million which is DKK 22 million below 2015 due to investments in a new data center.

For 2017, revenue is forecasted to grow 1%-5% in constant currencies. The revenue growth outlook is below NNIT's long-term target of at least 5% due to a decline in the backlog from the Novo Nordisk Group; Operating profit margin is forecasted to be around 10% in constant currencies. The expected level of investments in 2017 is 12%-14% of total revenue as the majority of investment related to an additional data center will impact 2017.