StrongPoint ASA: Second Quarter and First Half of 2021 Results
(Oslo, Norway, 14 July 2021) StrongPoint ASA (StrongPoint, OSE: STRO) reported revenues of NOK 252 million in the second quarter of 2021, up from NOK 222 million in the same quarter in 2020 and an EBITDA of NOK 12 million (17). StrongPoint has transformed into a retail technology company and reiterates the financial ambition of NOK 2.5 billion in revenues and EBITDA margins of 13-15 % in 2025.
“As societies prepare for a relatively more ‘normal’ summer, the grocery retail megatrends continue to impact the industry. This includes grocery e-commerce growing across the board and higher customer expectations for in-stores experiences, frictionless shopping and food safety. All these trends – and more – are resulting in an increased margin pressure on grocery retailers’ stores and consequently, additional technology solutions are needed to drive efficiency gains,” says Jacob Tveraabak, Chief Executive Officer of StrongPoint.
StrongPoint reported revenues of NOK 252 million (222) in the second quarter of 2021 and an EBITDA of NOK 12 million (17). The EBITDA* was negatively impacted by a total of NOK 20 million in the quarter from negative operations and write-downs of inventory in Spain. The EBT ended at NOK 6.9 (7.1) million from the continued operations in the quarter.
“At the end of June, we announced the divestment of our Labels business, and completed our strategy to becoming a pure Retail Technology company. I am very pleased with the price that our Labels business achieved which we will invest into our core focus and business of Retail Technology,” Tveraabak continues.
Following the sale of the Labels business StrongPoint reconfirmed its financial ambition of NOK 2.5 billion in revenues and EBITDA margins of 13-15 % in 2025.
“Having completed the second quarter and first half year of 2021, I am proud of the results the organization has delivered thus far. At the same time, I am excited for what is to come. Our team is growing stronger day-by-day, our solutions are constantly improving, and we are becoming increasingly relevant for grocery retailers all over,” Tveraabak concludes.
StrongPoint ASA will present the financial results for the second quarter and first half of 2021 at 08:15 CET Wednesday 14 July 2021. The link to the presentation and webcast can be found on StrongPoint's website and below:
*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 2021 financial report on page 23.
This information is considered to be inside information pursuant to the EU Market Abuse Regulation and is subject to the disclosure requirements pursuant to section 5-12 of the Norwegian Securities Trading Act. This stock exchange announcement was published by Ann Merete Stabell, group controller in StrongPoint ASA, on 14 July 2021 at 07:00 CET.
StrongPoint is a retail technology company that provides solutions to make shops smarter, shopping experiences better and online grocery shopping more efficient. With over 400 employees in Norway, Sweden, the Baltics and Spain and together with a wide partner network, StrongPoint supports 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. StrongPoint is headquartered in Norway and is listed on the Oslo Stock Exchange with a revenue of 1bn NOK [ticker: STRO].
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