StrongPoint

Earnings Release • Oct 26, 2022

StrongPoint: Third quarter 2022 financial results

StrongPoint: Third quarter 2022 financial results

26.10.2022 07:00:01 CEST | StrongPoint | Half yearly financial reports and audit

reports / limited reviews

(Oslo, 26 October 2022) StrongPoint ASA (StrongPoint, OSE: STRO) reported

revenues of NOK 346 million in the third quarter of 2022, 76% growth compared to

same quarter in 2021 (196) and an EBITDA of NOK 21 million (8). The company

reiterates its 2025 revenue ambition of NOK 2.5 billion and a 13-15% EBITDA

margin.

"In difficult economic times, people will always shop for groceries which is why

serving the resilient and non-cyclical grocery market is as close to certainty

as possible. This is evident for StrongPoint, and it is evident in the third

quarter financial results: a very strong 76% topline growth, of which 20% was

organic. Almost 2.5 times EBITDA improvement and EBIT increased 7-fold," says

Jacob Tveraabak, Chief Executive Officer of StrongPoint.

StrongPoint reported revenues of NOK 345.9 million (196.4) in the third quarter

of 2022 and an EBITDA* of NOK 20.7 million (8.0). The third quarter EBIT was NOK

10.2 million (1.4) and the net profit after tax ended at NOK 8.0 million in the

quarter (-0.3). Cash flow from operating activities was NOK 4 million.

"Delivering a turnover of NOK 346 million in the third quarter is a great

achievement. The absence of component shortages would have generated an

additional NOK 15 million revenue in the quarter and foreign exchange had a

negative NOK 9 million impact on sales. The third quarter is obviously

positively impacted by the inclusion of recently acquired Air Link Group with

NOK 110 million in revenue. However, organically StrongPoint grew its topline a

very healthy 20% driven by in-store efficiency solutions," Tveraabak continues.

"We strongly believe in bringing StrongPoint's own, proprietary products and

solutions, as well as key partner solutions, to these new markets. I continue to

be optimistic about achieving our 2025 strategic ambitions," Tveraabak

concludes.

StrongPoint will host a streamed presentation at 08.15 CET Wednesday 26 October

2022. The webcast will be available at strongpoint.com - http://strongpoint.com

and can also be accessed by the following link:

https://channel.royalcast.com/hegnarmedia/#!/hegnarmedia/20221026_11

*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 2022 financial report on page 28.

DISCLOSURE REGULATION

This information is subject to the disclosure requirements pursuant to Section

5-12 the Norwegian Securities Trading Act.

CONTACTS

* Hilde Horn Gilen, CFO StrongPoint ASA, +47 920 60 158,

hilde.gilen@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 1bn NOK [ticker: STRO]."

ATTACHMENTS

Download announcement as PDF.pdf -

https://kommunikasjon.ntb.no/ir-files/17847450/1836/2483/Download%20announcement

%20as%20PDF.pdf

StrongPoint Q3 2022 screen.pdf -

https://kommunikasjon.ntb.no/ir-files/17847450/1836/2479/StrongPoint%20Q3%202022

%20screen.pdf

StrongPoint Q3 2022 print.pdf -

https://kommunikasjon.ntb.no/ir-files/17847450/1836/2480/StrongPoint%20Q3%202022

%20print.pdf

StrongPoint Q3 2022 presentation.pdf -

https://kommunikasjon.ntb.no/ir-files/17847450/1836/2482/StrongPoint%20Q3%202022

%20presentation.pdf