StrongPoint

Earnings Release • Apr 28, 2021

StrongPoint ASA: First Quarter 2021 Results

StrongPoint ASA: First Quarter 2021 Results

28.4.2021 07:00:00 CEST | StrongPoint | Half yearly financial reports and audit

reports / limited reviews

(Oslo, Norway, 28 April 2021) StrongPoint ASA (StrongPoint, OSE: STRO) reported

revenues of NOK 296 million (259) in the first quarter of 2021, which represents

a 15% growth. Retail Technology grew 15% to NOK 253 million from NOK 220 million

in the same quarter in 2020. The EBITDA was NOK 20 million (16).

"The global COVID-19 pandemic continues to impact the world and continues to

have ramifications on our operations at the start of 2021. As a retail

technology company, the sum of the impact on our business is positive. This is

evident within grocery e-commerce as both established grocery retail companies

and new entrants fiercely compete for customer's favor. Simultaneously, it is

clear that grocery retailers are bracing for the year to come in their brick and

mortar stores. As economies are slowly opening up again, grocery retailer's top

line growth will be challenged. This stimulates in-store technology investments

to ensure stores' competitiveness going forward," says Jacob Tveraabak, Chief

Executive Officer of StrongPoint.

StrongPoint reported revenues of NOK 296 million (259) in the first quarter of

2021 and an EBITDA of NOK 20 million (16). Reported operating profit was NOK 9.9

million, up from NOK 5.9 million in the corresponding quarter 2020. Cash flow

from operating activities increased to NOK 22 million in the quarter, up from

minus NOK 5 million after Q1 2020.

"One of the key announcements in this quarter was the Glovo partnership. Glovo

is one of the leading delivery platforms in Europe with operations in more than

20 countries. Like most other similar companies, Glovo has really stepped up the

game within grocery deliveries following the pandemic. The realization of the

complexity of e-grocery led them to choose StrongPoint for their in-store

grocery order picking. The fact that a technology unicorn such as Glovo opts for

our solution proves the strength and potential of our e-commerce order picking

solution," Tveraabak continues.

In a strategy update session in the first quarter of 2021, StrongPoint

reconfirmed its target of becoming retailers trusted in-store and e-commerce

technology provider, with a strategic ambition of NOK 2.5 billion in revenues

and EBITDA margins of 13-15 % in 2025.

"StrongPoint's 'double opportunity' - delivering in-store efficiency solutions

and e-commerce logistics to grocery retailers - is greater today than ever

before. More and more so it becomes evident that the shift of shopping behavior,

accelerated by the COVID-19 pandemic, will provide ample opportunities for

StrongPoint going forward," Tveraabak concludes.

StrongPoint ASA will present the financial results for the first quarter 2021 at

08:15 CET Wednesday 28 April 2021. The Company's Annual General Meeting will

follow the first quarter presentation, starting at 09:00 am CET. The Annual

General Meeting is held digitally due to the COVID-19 virus situation. The link

to both presentations and webcasts can be found on StrongPoint's website and

below: Investor - StrongPoint -

https://www.strongpoint.com/about-strongpoint/investor/

StrongPoint Webcast Q1 2021 (royalcast.com) -

https://channel.royalcast.com/hegnarmedia/#!/hegnarmedia/20210428_1

StrongPoint Ordinary General Meeting (royalcast.com) -

https://channel.royalcast.com/hegnarmedia/#!/hegnarmedia/20210428_5

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 retail technology company that provides solutions to make shops

smarter, shopping experiences better and online grocery shopping more efficient.

With over 450 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 cash management and payment solutions,

electronic shelf and self-adhesive labels, click & collect

temperature-controlled grocery lockers, self-checkouts, and in-store and

warehouse grocery picking solutions. StrongPoint is headquartered in Norway and

is listed on the Oslo Stock Exchange with a revenue of 1,1bn NOK [ticker: STRO].

ATTACHMENTS

Download announcement as PDF.pdf -

https://kommunikasjon.ntb.no/ir-files/17847450/498/630/Download%20announcement%2

0as%20PDF.pdf

StrongPoint Q1 2021 screen.pdf -

https://kommunikasjon.ntb.no/ir-files/17847450/498/627/StrongPoint%20Q1%202021%2

0screen.pdf

StrongPoint Q1 2021 print.pdf -

https://kommunikasjon.ntb.no/ir-files/17847450/498/628/StrongPoint%20Q1%202021%2

0print.pdf

StrongPoint Q1 2021 presentation.pdf -

https://kommunikasjon.ntb.no/ir-files/17847450/498/629/StrongPoint%20Q1%202021%2

0presentation.pdf