StrongPoint

Report Publication Announcement • Apr 25, 2024

Strategy Update Session, First Quarter Financial Results 2024

Strategy Update Session, First Quarter Financial Results 2024

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

million.

"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: investor@strongpoint.com.

The webcast is available atstrongpoint.com - http://strongpoint.comand can also

be accessed by the following links:

Q1 Presentation:

https://channel.royalcast.com/hegnarmedia/#!/hegnarmedia/20240425_17

Strategy Update Session:

https://channel.royalcast.com/hegnarmedia/#!/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.

DISCLOSURE REGULATION

This information is subject to the disclosure requirements pursuant to Section

5-12 the Norwegian Securities Trading Act.

CONTACTS

* Marius Drefvelin, CFO StrongPoint ASA, +47 958 95 690,

marius.drefvelin@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, 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].

ATTACHMENTS

Download announcement as PDF.pdf -

https://kommunikasjon.ntb.no/ir-files/17847450/3060/4379/Download%20announcement

%20as%20PDF.pdf

StrongPoint Q1 2024.pdf -

https://kommunikasjon.ntb.no/ir-files/17847450/3060/4375/StrongPoint%20Q1%202024

.pdf

StrongPoint Q1 2024 print version.pdf -

https://kommunikasjon.ntb.no/ir-files/17847450/3060/4376/StrongPoint%20Q1%202024

%20print%20version.pdf

StrongPoint Q1 2024 Presentation.pdf -

https://kommunikasjon.ntb.no/ir-files/17847450/3060/4377/StrongPoint%20Q1%202024

%20Presentation.pdf

StrongPoint Strategy Update Session 2024 Presentation.pdf -

https://kommunikasjon.ntb.no/ir-files/17847450/3060/4378/StrongPoint%20Strategy%

20Update%20Session%202024%20Presentation.pdf