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StrongPoint

StrongPoint

StrongPoint: First quarter 2023 financial results

08:00 / 27 April 2023 StrongPoint Press release

27.4.2023 08:00:01 CEST | StrongPoint | Half yearly financial reports and audit
reports / limited reviews

(Oslo, 27 April 2023) StrongPoint ASA reported revenues of NOK 381 million in
the first quarter of 2023, NOK 80 million higher than same quarter in 2022
(301). The EBITDA increased by NOK 2 million to NOK 13.5 million (11.5).
StrongPoint today reconfirms the financial ambition of NOK 2.5 billion in
revenues and EBITDA margins of 13-15 % in 2025.

"As the world's markets in general reach all-time high levels of uncertainty,
the grocery retail market remains relatively stable and resilient. The
unprecedented pressure on household disposable income shakes the equilibrium in
the different grocery retail markets. In this context, I am pleased on behalf of
StrongPoint that we are experiencing a continued solid demand for our
solutions," says Jacob Tveraabak, Chief Executive Officer of StrongPoint.

StrongPoint reported revenues of NOK 381 million (301) in the first quarter of
2023 and an EBITDA of 13.5 million (11.5). The first quarter EBIT was NOK 4.0
million and EBT was NOK 7.6 million. Cash flow from operating activities was NOK
-44.2 million (11.9).

"We remain positive about the long-term outlook for e-commerce and the
industry's willingness and necessity to invest in efficiency solutions that
StrongPoint represents. This is especially true in the large UK market, which we
entered through the acquisition of Air Link Group last year. I believe that the
UK market is ripe for both our world-class e-commerce solutions as well as the
many other efficiency enhancing solutions we represent," Tveraabak continues.

In a strategy update session held in February 2023, StrongPoint reiterated the
ambition of NOK 2.5 billion in revenues and EBITDA margins of 13-15 % in 2025.

"The long-term market trend of needing ever more efficiency saving solutions, in
which technology plays a pivotal role, will continue to support the markets in
which we operate. The path to achieving our 2025 financial ambitions will most
certainly not be a linear journey. There will be quarterly fluctuations, in
particular as we still are - to a large extent - a project-driven organisation.
That said, we continue to be confident in achieving our 2025 strategic
ambitions," Tveraabak concludes.

StrongPoint will host a streamed presentation of the first quarter results at
08:30 CET Thursday 27 April 2023.

The Company's Annual General Meeting will follow the first quarter presentation,
starting at 09:15 am CET.

The webcasts will be available atstrongpoint.com - http://strongpoint.com.

*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 2023 financial report on page 28.

DISCLOSURE REGULATION

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

CONTACTS

* Hilde Horn Gilen, CFO StrongPoint ASA, +47 920 60 158,
hilde.gilen@strongpoint.com

ABOUT STRONGPOINT

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].

ATTACHMENTS

Download announcement as PDF.pdf -
https://kommunikasjon.ntb.no/ir-files/17847450/2287/3134/Download%20announcement
%20as%20PDF.pdf

StrongPoint Q1 2023.pdf -
https://kommunikasjon.ntb.no/ir-files/17847450/2287/3128/StrongPoint%20Q1%202023
.pdf

StrongPoint Q1 2023 print.pdf -
https://kommunikasjon.ntb.no/ir-files/17847450/2287/3129/StrongPoint%20Q1%202023
%20print.pdf

StrongPoint Q1 2023 presentation.pdf -
https://kommunikasjon.ntb.no/ir-files/17847450/2287/3133/StrongPoint%20Q1%202023
%20presentation.pdf
Oslo Børs

This information was distributed by Oslo Børs https://www.oslobors.no/