Q4 2020
CEO Jacob Tveraabak CFO Hilde Horn Gilen February 11, 2021
Agenda
- Highlights Q4 2020
- Other key financial figures
Highlights Q4 2020
Highlights Q4 2020
Very strong financial performance
Continued customer success in priority areas
Steady progress on 2025 strategic ambitions
th quarter revenue: Very strong financial performance
Q3 17 Q4 17 Q1 18 Q2 18 Q3 18 Q4 18 Q1 19 Q2 19 Q3 19 Q4 19 Q1 20 Q2 20 Q3 20 Q4 20
4 th quarter revenue in BAs: Very strong financial performance
Revenue
MNOK
Retail Technology Labels
1
A balanced solutions portfolio 1
Relative share of revenue per segment Percent
Retail Technology
Compensation for relocation of Labels production Norway
th quarter profitability: x4 EBITDA
Continued customer success in priority areas
- Order of Pricer ESL to NorgesGruppen of ~70 MNOK completed in Q4.
- Self Checkout solutions for more than 3 MEUR sold to Palink in Lithuania, to be delivered in 2021.
- Increased roll-out of Click & Collect lockers, in particular to Swedish grocery retail customers.
Steady progress on 2025 strategic ambitions
- Divestment of the business area Cash Security to Cennox Holding Ltd, UK.
- Development in E-Commerce Picking and Delivery management software, first launch expected in Q1 2021.
Other key financial figures
One-time items influence Q4 figures
Compensation for relocation Labels Norway
- Total compensation: 55.7 MNOK
- Foreseen events: relocation cost and temporary rent
- EBITDA effect: 53.2 MNOK
- Net Profit effect: 23.6 MNOK
Discontinued operation
- Divestment of Cash Security
- 2020 figures reported at Net Profit level
- Separate note in the Q4 report
- Purchase price: 7.3 MEUR
- Cash at closing: 2.6 MEUR
- Earn Out: 4.7 MEUR
- 2.5 MEUR risk valuation
- Net gain: 39.2 MNOK (Purchase price less risk of earn out, equity and sales cost)
Operational figures ex one-time items
MNOK
Revenue EBITDA
Op.: Operational figures Comp.: Compensation for relocation Labels Norway
Profit after tax – explanation
MNOK
Op.: Operational figures
Comp.: Compensation for relocation Labels Norway
Discont. Op: Net profit from discontinued operations from the divestment of Cash Security
Earnings per share on same level as 2019, one-time items contribute positively
EPS per quarter NOK per share
* EPS adjusted for amortisation of intangible assets, mainly from M&A
** EPS from operations in blue, EPS from compensation for relocation in gray. Discontinued operation not included in Q4 and 2020.
Cash Flow effects YTD
MNOK
Net leverage to 0.28x rolling 12 months EBITDA Solid financial position
* Net Interest Bearing Debt / Rolling 12 EBITDA
Dividend for 2020 to be decided in Annual General Meeting April 2021
* Proposed dividend to GM
Financial calendar 2021
Q1 2021 – 28.04 Q2 2021 – 14.07 Q3 2021 – 21.10
Annual General Meeting: April 28, 2021 Location to be announced
IR-contact:
CFO Hilde Horn Gilen [email protected] +47 920 60 158