StrongPoint

Earnings Release • Oct 23, 2023

StrongPoint ASA: Third quarter 2023 financial results

StrongPoint ASA: Third quarter 2023 financial results

23.10.2023 07:00:01 CEST | StrongPoint | Half yearly financial reports and audit

reports / limited reviews

(Oslo, 23 October 2023) StrongPoint ASA reported revenues of NOK 293 million in

the third quarter of 2023, NOK 53 million lower than same quarter in 2022 (346).

The EBITDA declined by NOK 16.9 million to NOK 3.8 million (20.7).

"Uncertainty, inflation, and interest rates continue to dominate the news

headlines across markets. As a consequence, we are observing households holding

back spending. Although StrongPoint is fortunate to predominantly serve the

stable and resilient grocery retail sector, our direct customers - the grocery

retailers, continue to postpone investment decisions. Whereas the medium to

long-term outlook for retail technology is very positive, the general investment

pause currently negatively affects StrongPoint," says Jacob Tveraabak, Chief

Executive Officer of StrongPoint.

StrongPoint reported revenues of NOK 293 million (346) in the third quarter of

2023 and an EBITDA of NOK 3.8 million (20.7). The third quarter EBIT was NOK -

5.1 million and EBT was NOK - 13.5 million. Cash flow from operating activities

was NOK - 24.5 million (- 4.0).

"Although reaching our 2025 financial ambitions might seem difficult from the

outside with the abovementioned general outlook and subsequent cost measures, we

continue to stand behind these ambitions. The main reason for this, in addition

to a capable underlying organization and well managed business, includes major

projects that we still believe will materialize this autumn. Our ground-breaking

cash management project in Iberia is such an example. Furthermore, I am very

positive about a breakthrough in the UK with our solutions, as earlier

communicated. My faith here is, in fact greater than ever before." Tveraabak

continues.

"We are convinced that technology will continue to play an important role going

forward. This is both a megatrend that StrongPoint is ready for and very well

positioned to ride. In sum, the outcome of these very exciting opportunities, in

what for StrongPoint are relatively new and large markets, will define our

further belief in achieving our 2025 financials ambitions," Tveraabak concludes.

A link to a video presentation of the third quarter results is available,

together with the report. There will be a live Q&A session via webcast at 10:30

CET.

In addition, the company's Extraordinary General Meeting will be held at 09:15

am CET.

The webcasts and video presentations will be available at

https://www.strongpoint.com/investor/webcasts/

*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

third quarter 2023 financial report on page 25.

DISCLOSURE REGULATION

This information is subject to the disclosure requirements pursuant to Section

5-12 the Norwegian Securities Trading Act.

CONTACTS

* Jacob Tveraabak, CEO StrongPoint ASA, +47 908 21 370,

jacob.tveraabak@strongpoint.com

* 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, 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/17847450/2693/3761/Download%20announcement

%20as%20PDF.pdf

StrongPoint Q3 2023.pdf -

https://kommunikasjon.ntb.no/ir-files/17847450/2693/3756/StrongPoint%20Q3%202023

.pdf

StrongPoint Q3 2023 print.pdf -

https://kommunikasjon.ntb.no/ir-files/17847450/2693/3759/StrongPoint%20Q3%202023

%20print.pdf

StrongPoint Q3 2023 presentation.pdf -

https://kommunikasjon.ntb.no/ir-files/17847450/2693/3760/StrongPoint%20Q3%202023

%20presentation.pdf