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STRO: Strategy Update Session, First Quarter Financial Results 2024

07:00 / 25 April 2024 StrongPoint Press release

25.4.2024 07:00:01 CEST | StrongPoint | Half yearly financial reports and audit
reports / limited reviews

(Oslo, 25 April 2024) StrongPoint ASA reported revenues of NOK 359 million in
the first quarter of 2024, NOK 22 million lower than same quarter in 2023 (381).
The EBITDA decreased by NOK 19.7 million to NOK -6.2 million (13.5).

"The start of 2024 continued much like the end of 2023: economic uncertainty and
relatively high interest rates, pushing many of our grocery customers'
investment decisions out in time. Despite having completed the announced cost
reduction effort in Q4, the revenue decline has put significant pressure on our
short- term profitability - and more so than expected. Therefore, we are again
taking further actions to cushion the hit on profitability by initiating an
organizational restructuring and cost reduction program aimed at saving an
additional 20 MNOK p.a. with full effect as of end Q2 this year," says Jacob
Tveraabak, Chief Executive Officer of StrongPoint.

StrongPoint reported revenues of NOK 359 million (381) in the first quarter of
2024 and an EBITDA of -6.2 million (13.5). The first quarter EBIT was NOK -16.8
million and EBT was NOK -14.8 million. The net profit after tax ended at NOK
-11.4 million in the quarter. Cash flow from operating activities was NOK 15.3

"Whereas our financial results certainly are taking a hit, we are progressing
very well with our long-term ambitions. In the first quarter we signed and
announced the very important Sainsbury's Order Picking deal. I have labelled
this as the most important customer win in StrongPoint's history and stand by
that. This win is only rivalled by our long-awaited innovative cash management
solution announcement, which came at the start of Q2, with the by far largest
grocery chain in Spain: Mercadona," Tveraabak continues.

In a company strategy update session following the presentation of the first
quarter 2024 financial results, StrongPoint will outline its 2025 estimates and
long-term financial aspirations.

"Forecasting in an uncertain macro climate and business environment is hard, in
particular in the short term. Hence, we are cautious about promising or
expecting any short-term improvements vs. today's observed business development.
That said, we remain confident in the bright future demand and outlook for our
solutions. Our recently announced innovative cash management system in Spain
with Mercadona and our Order Picking solution win with Sainsbury's in the UK are
testimonies of our relevance now and in the future," Tveraabak concludes.

StrongPoint will host an in-person and streamed presentation of the first
quarter results at 09:00 CET followed by the Strategy Update Session at 11:00
CET Thursday 25 April 2024. A Q&A session will follow the Strategy Update
Session and questions can be submitted online during the presentation or via
email at:

The webcast is available - http://strongpoint.comand can also
be accessed by the following links:

Q1 Presentation:!/hegnarmedia/20240425_17

Strategy Update Session:!/hegnarmedia/20240425_18

*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 2024 financial report on page 24.


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


* 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, Finland,
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 Q1 2024.pdf -

StrongPoint Q1 2024 print version.pdf -

StrongPoint Q1 2024 Presentation.pdf -

StrongPoint Strategy Update Session 2024 Presentation.pdf -
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