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StrongPoint: First quarter 2022 financial results

07:00 / 28 April 2022 StrongPoint Press release

28.4.2022 07:00:00 CEST | StrongPoint | Half yearly financial reports and audit
reports / limited reviews

(Oslo, 28 April 2022) StrongPoint ASA (StrongPoint, OSE: STRO) reported revenues
of NOK 301 million in the first quarter of 2022, up 21% compared to same quarter
in 2021 (249) and an EBITDA of NOK 12 million (14). The company delivered a
solid quarter for the retail technology business and reiterates the strong

"The demand for grocery retail technology and StrongPoint's solutions continues
to be strong. The first quarter of 2022 shows that in-store productivity
solutions are in high demand and that only challenging component access holds
back even larger growth. Behind the scenes, our e-commerce offering is being
continuously improved with hardware and software improvements as well as
significant ramp-up investments in sales and marketing resources. Further in the
quarter, we have engaged intensively with Air Link Group in a due diligence
phase, as part of the announced intention to acquire the company, paving the way
for a StrongPoint presence into the UK and Ireland. StrongPoint is delivering
its best quarter ever as a Retail Technology focused company," says Jacob
Tveraabak, Chief Executive Officer of StrongPoint.

StrongPoint reported revenues of NOK 300.7 million (249.3) in the first quarter
of 2022 and an EBITDA* of 11.5 million (13.6). The first quarter EBIT was NOK
4.8 million (7.5) and the net profit after tax ended at NOK 3.2 million in the
quarter (8.3). Cash flow from operating activities was NOK 11.9 million.

"In the quarter we welcomed two new members to StrongPoint's Executive
Management Team, Chris Mackie and Magnus Rosèn. Chris is now leading our
E-commerce sales efforts and brings a wealth of experience in the area. Magnus
now leads our Swedish operations as well as our E-commerce product development,"
Tveraabak continues.

In a strategy update session held in February 2022, StrongPoint reiterated the
ambition of NOK 2.5 billion in revenues and EBITDA margins of 13-15 % in 2025.

"Having commented on our Spanish operations throughout last year as we have
undergone a significant turnaround of our operations in the country, I am
pleased to announce a topline growth rate of more than 50% with a close-to
break-even result in the first quarter of 2022. The future remains bright and
promising, and I am confident about our success in the future. As more and more
grocery retailers discover our solutions, I believe we can be optimistic in
achieving our 2025 strategic ambitions," Tveraabak concludes.

StrongPoint will host a streamed management presentation at 08:15 CET Thursday
28 April 2022. The webcast will be available at - and can also be accessed by the following link:!/hegnarmedia/20220428_5

The presentation of the first quarter 2022 financial result and the Board of
Director's report are enclosed.

*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
first quarter 2022 financial report on page 25.


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 retail technology company that provides solutions to make shops
smarter, shopping experiences better and online grocery shopping more efficient.
With over 400 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 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. StrongPoint is
headquartered in Norway and is listed on the Oslo Stock Exchange with a revenue
of 1bn NOK [ticker: STRO].


Download announcement as PDF.pdf -

StrongPoint Q1 2022.pdf -

StrongPoint Q1 2022 presentation.pdf -
Oslo Børs

This information was distributed by Oslo Børs