Strategy Update Session, Fourth Quarter and Full Year Financial Results 2022
(Oslo, 13 February 2023) StrongPoint ASA reported revenues of NOK 405 million in the fourth quarter of 2022, NOK 121 million higher than same quarter in 2021 (284). The EBITDA increased by NOK 14 million to NOK 34 million (20). StrongPoint today reconfirms the financial ambition of NOK 2.5 billion in revenues and EBITDA margins of 13-15 % in 2025.
“Serving the grocery retail market with technology solutions in demand has never been more rewarding. The grocery market is one of the most resilient and non-cyclical markets there is. We achieved our strongest quarter ever in terms of revenue. Delivering a turnover of 405 MNOK in Q4 is a great achievement for the Group, with a very strong 43% growth vs. the same quarter last year. The quarter is obviously positively impacted by the inclusion of Air Link Group which contributed 101 MNOK in revenue. In addition, our topline grew 7% organically,” says Jacob Tveraabak, Chief Executive Officer of StrongPoint.
StrongPoint reported revenues of NOK 405 million (284) in the fourth quarter of 2022 and an EBITDA of 34 million (20). The fourth quarter EBIT was NOK 21 million and EBT was NOK 17 million. The net profit after tax ended at NOK 13 million in the quarter. Cash flow from operating activities was NOK 38 million.
“Whereas the acquisition of Air Link Group already impacts our financials positively, I am equally excited about the opportunities that this company represents going forward for StrongPoint in the UK and Ireland. The opportunities are vast in the UK and Ireland for our proprietary solutions along with partner solutions. I am very optimistic about the future of StrongPoint in the UK and Irish markets. Having proven the financial viability of the Spanish operations, our focus in Spain going forward is growing our presence to allow us to serve a larger customer base and to reap the benefits of operations at scale,” Tveraabak continues.
In a company strategy update session following the presentation of the fourth quarter 2022 financial results, StrongPoint will outline the progress already made on its 2025 targets. It will outline how the company has been transformed since the strategy was announced and implemented as well as how it is on track to achieve its financial ambitions.
“Whilst the general uncertainty and turmoil in the overall market is unprecedented, I am pleased that StrongPoint predominantly serves the stable and resilient grocery retail segment. We continue to see that our solutions are attracting attention from the leading grocery retailers in our target markets reflecting our world-class proprietary and partner solutions. We continue to be confident in achieving our 2025 strategic ambitions,” Tveraabak concludes.
StrongPoint will host a streamed presentation of the fourth quarter results at 08:30 CET followed by the Strategy Update Session at 09:15 CET Monday 13 February 2023. A Q&A session will follow the Strategy Update Session and questions can be submitted online during the presentation or via email at: firstname.lastname@example.org.
The webcast will be available at strongpoint.com and can also be accessed by the following links:
Q4 Presentation: https://channel.royalcast.com/strongpoint/#!/strongpoint/20230213_1
Strategy Update Session: https://channel.royalcast.com/strongpoint/#!/strongpoint/20230213_2
*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 fourth 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.
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].
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