Press the button and be introduced to a new random company!

Introduce me >

Social media

facebook   Follow us on Twitter




StrongPoint ASA: Strategy update and fourth quarter financial results 2020

07:11 / 11 February 2021 StrongPoint Press release

(Oslo, Norway, 11 February 2021) StrongPoint ASA (StrongPoint, OSE: STRO)
reported revenues of NOK 394 million in the fourth quarter of 2020, up from NOK
252 million in the same quarter in 2019, and an EBITDA of NOK 81 million.
StrongPoint today reconfirms its target of becoming retailers trusted in-store
and e-commerce technology provider, with a strategic ambition of NOK 2.5 billion
in revenues and EBITDA margins of 13-15 % in 2025.

"In the quarter our overall revenue grew by 56%, of which our Retail Technology
operations continued the strong performance with growth of 34% compared to the
same quarter in 2019, of which Norway experienced a staggering 69% growth. The
demand for our e-commerce logistics solutions continue to be solid across our
focus geographies. Coming out of 2020, we are stronger than ever. We are
achieving record financial figures, continuing to invest in our world-class
solutions and are recruiting leading industry professionals," says Jacob
Tveraabak, Chief Executive Officer of StrongPoint.

In a company strategy update session following the presentation of the fourth
quarter 2020 financial results, StrongPoint will outline the progress already
made on its 2025 targets and how technology continues to be the key to scaling
e-commerce and making stores more profitable in today's Covid-19 world.

"In 2020 online groceries became a lifeline for millions due to the pandemic and
the entire industry has been transformed with consumer demand skyrocketing
around the world. Our double opportunity to meet grocery retailer's needs,
in-store and online, is greater than ever before and we remain confident of
meeting our revenue ambition of NOK 2.5 billion by 2025," says Tveraabak.

StrongPoint's e-commerce and in-store technology solutions meet two key global
trends effecting grocery retailers. Firstly, the pressure on brick and mortar
retailers' margins means grocery retailers need to find ways to increase
in-store productivity to boost profitability. Secondly, the pressure to develop
an online presence and keep that market share. These two key industry challenges
have only been accelerated by the global uptick in demand for grocery

To meet the changes in the industry following the events of 2020, StrongPoint
has updated its strategy to achieve its 2025 ambition and will take a T-shaped
approach to geographical expansion and growth which includes:

Roll-out of world-class solutions, in particular end-to-end grocery
e-commerce logistics suite, self-checkout and cash management solutions, in
selected key markets
Leveraging the deep relations in its core markets including Norway, Sweden,
the Baltics and Spain, to both continue to roll-out a full portfolio of retail
technology solutions and be a market access platform for global retail
technology providers

"Substantial increases in online sales and changes in customer demands means
that grocery retailers need to keep the cost of order fulfillment down and
provide their online customers with increased options in how they pick-up their
groceries. However, the consumer shift to online means their margins are going
to be squeezed further as fulfilling online orders brings additional costs.
StrongPoint provides grocery retailers with technology solutions to increase
productivity, efficiency, and profitability. Following the recent announcement
of delivery platform unicorn Glovo choosing StrongPoint as their order
fulfillment technology partner, I am proud to say that the power of our retail
technology is now attracting global attention. StrongPoint reiterates our
ambition of revenues in 2025 of NOK 2.5 billion with EBITDA-margins of 13-15 %,"
added Tveraabak.

In the fourth quarter 2020, StrongPoint reported revenues of NOK 394.1 million
(252.3) and an EBITDA of 81.5 million (19.3). Reported operating profit was NOK
47.5 million, up from NOK 7.8 million in the corresponding quarter in 2019,
while the cash flow from operating activities ended at NOK 107.2 million (23.3).

StrongPoint ASA will present the financial results for the fourth quarter 2020
at 08:15 CET Thursday 11 February 2021, followed by an extended company strategy
update session. Both presentations will be online and can be accessed by the
following link:!/hegnarmedia/20210211_3

This information is subject to the disclosure requirements pursuant to Section
5-12 the Norwegian Securities Trading Act.

Hilde Horn Gilen

CFO StrongPoint ASA


+47 920 60 158
About StrongPoint

StrongPoint is a retail technology company that provides solutions to make shops
smarter, shopping experiences better and online grocery shopping more efficient.
With over 450 employees in Norway, Sweden, the Baltics and Spain and together
with a wide partner network, StrongPoint supports businesses in more than 20
countries. StrongPoint provides cash management and payment solutions,
electronic shelf and self-adhesive labels, click & collect
temperature-controlled grocery lockers, self-checkouts, and in-store and
warehouse grocery picking solutions. StrongPoint is headquartered in Norway and
is listed on the Oslo Stock Exchange with a revenue of 1,1bn NOK [ticker: STRO].
Oslo Børs

This information was distributed by Oslo Børs