The following is excerpted from the question-and-answer section of the transcript.
(Questions from industry analysts are provided in full, but answers are omitted - download the transcript to see the full question-and-answer session)
Question: Anders Vollesen - Jyske Bank A/S, Research Division - Analyst
: So coming back to growth again, your client-facing FTEs in the company core grew around 15% this quarter. But then you mentioned this around
20% growth adjusted for vacation effects. So should we take this divergence as a means for you to sort of increase utilization and profitability going
forward? Or is it more a sign of the actual growth that you're expecting in the increase in the FTEs?
And then a second question on Netcompany-Intrasoft. Why did the FTE decrease in Greece compared to last quarter's numbers? And on that point,
in your capital markets update a few weeks ago, you mentioned that you have a strong market position -- and market share increase. And then
there's this huge upcoming public domain projects from the RRF. Just very curious as to how you're approaching this. I mean it seems like there's
endless growth opportunities upcoming in Greece. But how much of these around $20 billion that you mentioned, are you actually aiming to
capture? And do you have any expectations towards the profitability profile of these projects?
And then just a last follow-up on the U.K., question from George. I was just wondering, you mentioned this transfer of graduates to Denmark. Is
that going to impact in any way your opportunities and growth trajectories in the short-term.
Question: Yiwei Zhou - SEB, Research Division - Analyst
: I have 2 questions on Intrasoft. And firstly, you mentioned in the report, Intrasoft had to decline revenue in private segment. And could you please
elaborate a bit on? Is it something as you expected? Or it sort of surprised you? Let's do one question at a time.
Question: Yiwei Zhou - SEB, Research Division - Analyst
: Great. And next question on free cash flow. As I understand, in Q1, Intrasoft free cash flow was negative. And apart from -- you mentioned the
change in working capital, is there anything else leading to the negative free cash flow? And maybe could you also comment on what has been
the main driver for the change.
Question: Yiwei Zhou - SEB, Research Division - Analyst
: Okay. Just -- can I just follow-up here. Remember, you mentioned in the annual report, last conference call, you sort of indicated the 2022, you will
see an improvement in free cash flow from 2021. Is it still the assumption?
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MAY 05, 2022 / 9:00AM, NETCG.CO - Q1 2022 Netcompany Group A/S Earnings Call
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