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StrongPoint: Third quarter 2022 financial results

07:00 / 26 October 2022 StrongPoint Press release

26.10.2022 07:00:01 CEST | StrongPoint | Half yearly financial reports and audit
reports / limited reviews

(Oslo, 26 October 2022) StrongPoint ASA (StrongPoint, OSE: STRO) reported
revenues of NOK 346 million in the third quarter of 2022, 76% growth compared to
same quarter in 2021 (196) and an EBITDA of NOK 21 million (8). The company
reiterates its 2025 revenue ambition of NOK 2.5 billion and a 13-15% EBITDA

"In difficult economic times, people will always shop for groceries which is why
serving the resilient and non-cyclical grocery market is as close to certainty
as possible. This is evident for StrongPoint, and it is evident in the third
quarter financial results: a very strong 76% topline growth, of which 20% was
organic. Almost 2.5 times EBITDA improvement and EBIT increased 7-fold," says
Jacob Tveraabak, Chief Executive Officer of StrongPoint.

StrongPoint reported revenues of NOK 345.9 million (196.4) in the third quarter
of 2022 and an EBITDA* of NOK 20.7 million (8.0). The third quarter EBIT was NOK
10.2 million (1.4) and the net profit after tax ended at NOK 8.0 million in the
quarter (-0.3). Cash flow from operating activities was NOK 4 million.

"Delivering a turnover of NOK 346 million in the third quarter is a great
achievement. The absence of component shortages would have generated an
additional NOK 15 million revenue in the quarter and foreign exchange had a
negative NOK 9 million impact on sales. The third quarter is obviously
positively impacted by the inclusion of recently acquired Air Link Group with
NOK 110 million in revenue. However, organically StrongPoint grew its topline a
very healthy 20% driven by in-store efficiency solutions," Tveraabak continues.

"We strongly believe in bringing StrongPoint's own, proprietary products and
solutions, as well as key partner solutions, to these new markets. I continue to
be optimistic about achieving our 2025 strategic ambitions," Tveraabak

StrongPoint will host a streamed presentation at 08.15 CET Wednesday 26 October
2022. The webcast will be available at -
and can also be accessed by the following link:!/hegnarmedia/20221026_11

*EBITDA and other alternative performance measures (APMs) are defined and
reconciled to the IFRS financial statements as a part of the APM section of the
third quarter 2022 financial report on page 28.


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,


StrongPoint is a grocery retail technology company that provides solutions to
make shops smarter, shopping experiences better and online grocery shopping more
efficient. With over 500 employees in Norway, Sweden, the Baltics, Spain, the UK
and Ireland and together with a wide partner network, StrongPoint supports
grocery and retail businesses in more than 20 countries. StrongPoint provides
in-store cash management and payment solutions, electronic shelf labels,
self-checkouts, task and labor management software, click & collect
temperature-controlled grocery lockers, in-store and drive-thru grocery pickup
solutions and grocery order picking solutions, both manual and automated.
StrongPoint is headquartered in Norway and is listed on the Oslo Stock Exchange
with a revenue of approx 1bn NOK [ticker: STRO]."


Download announcement as PDF.pdf -

StrongPoint Q3 2022 screen.pdf -

StrongPoint Q3 2022 print.pdf -

StrongPoint Q3 2022 presentation.pdf -
Oslo Børs

This information was distributed by Oslo Børs