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StrongPoint: Second quarter and first half 2023 financial results

08:00 / 14 July 2023 StrongPoint Press release

14.7.2023 08:00:01 CEST | StrongPoint | Half yearly financial reports and audit
reports / limited reviews

(Oslo, 14 July 2023) StrongPoint ASA reported revenues of NOK 337 million in the
second quarter of 2023, NOK 16 million higher than same quarter in 2022 (321).
The EBITDA declined by NOK 7.7 million to NOK 2.1 million (9.8). StrongPoint
today reconfirms the financial ambition of NOK 2.5 billion in revenues and
EBITDA margins of 13-15 % in 2025.

"The pressure on disposable household income continues as interest rates rise,
leading to discounters gaining market share as consumers look to cheaper
options. Although the grocery market is a relatively stable and resilient, this
competitive pressure is driving traditional grocery retailers to postpone or
hold back investments. We foresee this to be short-term actions to alleviate the
financial pressures on many grocery retailers. The medium to long-term outlook
of retail technology, and for StrongPoint, is as positive as ever," says Jacob
Tveraabak, Chief Executive Officer of StrongPoint.

StrongPoint reported revenues of NOK 337 million (321) in the second quarter of
2023 and an EBITDA of NOK 2.1 million (9.8). The second quarter EBIT was NOK -
7.3 million and EBT was NOK - 1.1 million. Cash flow from operating activities
was NOK 60.2 million (- 37.3).

"We expect the most mature StrongPoint markets, Norway and Sweden, to perform
better in the second half of 2023, whilst continuing the strong performance in
the Baltics. Regarding the UK, Irish and Spanish markets, we are very excited
about opportunities in the short and long-term. The UK is particularly ripe for
a number of the efficiency saving solutions we supply, and I gladly repeat my
expectations to announce at least one major deal with a StrongPoint affiliated
solution in the UK in 2023. In Spain, we are excited about revealing more
details of the prospects of the extremely important cash management project
sometime during the third quarter," 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 introduction of more efficiency saving solutions, in which technology plays
an important role, will continue to be a significant long-term trend. This is a
megatrend that StrongPoint is ready and well positioned to ride. As such, we
continue to be confident in achieving our 2025 strategic ambitions," Tveraabak

StrongPoint will host a streamed presentation of the second quarter results at
08:30 CET Friday 14 July 2023.

The webcasts will be available -

*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 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,


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 Q2 and 1st half 2023.pdf -

StrongPoint Q2 and 1st half 2023 print.pdf -

StrongPoint Q2 and 1st half 2023 presentation.pdf -
Oslo Børs

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