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

Introduce me >

Social media

facebook   Follow us on Twitter




StrongPoint ASA: Third quarter 2023 financial results

07:00 / 23 October 2023 StrongPoint Press release

23.10.2023 07:00:01 CEST | StrongPoint | Half yearly financial reports and audit
reports / limited reviews

(Oslo, 23 October 2023) StrongPoint ASA reported revenues of NOK 293 million in
the third quarter of 2023, NOK 53 million lower than same quarter in 2022 (346).
The EBITDA declined by NOK 16.9 million to NOK 3.8 million (20.7).

"Uncertainty, inflation, and interest rates continue to dominate the news
headlines across markets. As a consequence, we are observing households holding
back spending. Although StrongPoint is fortunate to predominantly serve the
stable and resilient grocery retail sector, our direct customers - the grocery
retailers, continue to postpone investment decisions. Whereas the medium to
long-term outlook for retail technology is very positive, the general investment
pause currently negatively affects StrongPoint," says Jacob Tveraabak, Chief
Executive Officer of StrongPoint.

StrongPoint reported revenues of NOK 293 million (346) in the third quarter of
2023 and an EBITDA of NOK 3.8 million (20.7). The third quarter EBIT was NOK -
5.1 million and EBT was NOK - 13.5 million. Cash flow from operating activities
was NOK - 24.5 million (- 4.0).

"Although reaching our 2025 financial ambitions might seem difficult from the
outside with the abovementioned general outlook and subsequent cost measures, we
continue to stand behind these ambitions. The main reason for this, in addition
to a capable underlying organization and well managed business, includes major
projects that we still believe will materialize this autumn. Our ground-breaking
cash management project in Iberia is such an example. Furthermore, I am very
positive about a breakthrough in the UK with our solutions, as earlier
communicated. My faith here is, in fact greater than ever before." Tveraabak

"We are convinced that technology will continue to play an important role going
forward. This is both a megatrend that StrongPoint is ready for and very well
positioned to ride. In sum, the outcome of these very exciting opportunities, in
what for StrongPoint are relatively new and large markets, will define our
further belief in achieving our 2025 financials ambitions," Tveraabak concludes.

A link to a video presentation of the third quarter results is available,
together with the report. There will be a live Q&A session via webcast at 10:30

In addition, the company's Extraordinary General Meeting will be held at 09:15
am CET.

The webcasts and video presentations will be available at

*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 2023 financial report on page 25.


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


* Jacob Tveraabak, CEO StrongPoint ASA, +47 908 21 370,
* Marius Drefvelin, CFO StrongPoint ASA, +47 958 95 690,


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 1.4bn NOK [ticker: STRO].


Download announcement as PDF.pdf -

StrongPoint Q3 2023.pdf -

StrongPoint Q3 2023 print.pdf -

StrongPoint Q3 2023 presentation.pdf -
Oslo Børs

This information was distributed by Oslo Børs