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StrongPoint: Second quarter and first half 2022 financial results

07:00 / 13 July 2022 StrongPoint Press release

13.7.2022 07:00:01 CEST | StrongPoint | Half yearly financial reports and audit
reports / limited reviews

(Oslo, 13 July 2022) StrongPoint ASA (StrongPoint, OSE: STRO) reported revenues
of NOK 321 million in the second quarter of 2022, 28% growth compared to same
quarter in 2021 (252) and an EBITDA of NOK 10 million (12). The company
reiterates its 2025 ambition of NOK 2.5 bn and 13-15% EBITDA margin.

"Serving the resilient grocery retail market is a grateful mission in today's
turbulent times. In times of uncertainty, few things are as certain as the need
for people to purchase their groceries cost effective and efficiently. That is
good news for StrongPoint. In the second quarter of 2022 StrongPoint grew its
topline with a strong 28% vs. same quarter last year," says Jacob Tveraabak,
Chief Executive Officer of StrongPoint.

StrongPoint reported revenues of NOK 320.8 million (251.5) in the second quarter
of 2022 and an EBITDA* of 9.8 million (12.0). The second quarter EBIT was NOK
1.4 million (5.9) and the net profit after tax ended at NOK 5.3 million in the
quarter (6.4). Cash flow from operating activities was NOK minus 37.3 million.
Included in the figures was one month of revenue and profit for the newly
acquired Air Link Group Ltd in UK & Ireland, of which further financial
information is presented in note 5 in the second quarter and half year 2022

"Whereas the overall grocery e-commerce market has seen a post-Covid dip, the
growth is still far higher than had been previously anticipated. Historically
grocery e-commerce has been a laggard in e-commerce penetration, but the last
two years has proven that it here to stay and will continue to grow. In the
second quarter, we achieved NOK 32 million e-commerce sales, or 10% of total
revenues. Also, in the quarter we announced several e-commerce contracts,
including our first AutoStore contract. The opportunities for StrongPoint in
delivering a complete solution for e-commerce fulfilment to its customers,
including an automation solution with AutoStore, are great," Tveraabak

"At the end of the quarter, we completed the closing of the Air Link Group
transaction. The acquisition provides StrongPoint with a unique platform in the
UK and Ireland. I am pleased that StrongPoint operates in the retail technology
market with a focus on the resilient grocery retail market. We are demonstrating
very solid growth, we have very healthy margins in the mature in-store solutions
market and we invest deliberately in the next growth trajectory with e-commerce.
I continue to be optimistic about achieving our 2025 strategic ambitions,"
Tveraabak concludes.

StrongPoint will host a streamed presentation at 08.15 CET Wednesday 13 July
2022. The webcast will be available at -
and can also be accessed by the following link:!/hegnarmedia/20220712_6

*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
second quarter 2022 financial report on page 26.


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 500 employees in Norway, Sweden, the Baltics, Spain, the UK and
Ireland 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 Q2 and 1st half 2022 screen.pdf -

StrongPoint Q2 and 1st half 2022 print.pdf -

StrongPoint Q2 and 1st half 2022 presentation.pdf -
Oslo Børs

This information was distributed by Oslo Børs