Mintra Holding

Investor Presentation • Nov 12, 2020

Q3 2020 financial results

E-LEARNING COURSES	HUMAN CAPITAL MANAGEMENT SOFTWARE	CONSULTING & OTHERS
~40%	~40%	~20%

Highlights Q3 2020

• NOK million
• •
• •
• • •
• •
• •
• •
• • •
• • •
• •

Financial review

• • •
• •
• •
• • •
• • •
• •

Strong new sales in Q3 2020

• •
• • •
• • •
• •
• • •

Growing recurring and predictable revenue

• • •
• • •
• •
• •

High cash generation

Highlights eLearning

• •
• •
• •
• •
• •

Highlights Human Capital Management Software

• •
• •
• •
• •

Growth ambitions supported by financial position

• • •
• •
• •
• • •
• •
• •
• •

NOK million	Q3'20		Post placement
Total fixed assets	335.7		335.7
Total accounts receivable	54.8	0.6	55.4
Cash & Cash equivalents	21.6	190.7	212.4
Total assets	412.2	191.3	603.5
Equity	(64.1)	469.1	405
Provisions	15.0		15.0
Other long term liabilities	116.0		116.0
Liabilities to financial institutions	232.8	(232.8)	0
Trade creditors	5.0		5.0
Tax payable	0.1		0.1
Public duties	6.2	(1.4)	4.8
Other short term liabilities	101.4	(43.6)	57.9
Total Liabilities	476.3	(277.8)	198.5
Total equity and liabilities	412.2	191.3	603.5

Strategy & Operations

Future oriented range of services

• •
• • • •
  • •
  • •
  • •
• • •

Clear growth strategy

MORE DIGITALISATION

MORE EDUCATION

MOBILE MORE REGULATION

MORE

Up-selling and cross selling potential

COURSES, TECHNOLOGY & CAPABILITIES

MORE EBITDA AND CASH FOR FURTHER GROWTH

MORE CUSTOMERS AND REGIONS

MORE REVENUES

Strong market outlook supports financial targets

MED-LONG TERM AMBITIONS

Well positioned in an exciting sector

Market leader	Strong brand and high customers loyalty
Low risk business model	Recurring revenue and high cash conversion
E-learning is growing	Driven by demographics and pandemic
Solid financial position	Supporting growth ambitions

APPENDIX

PROFIT AND LOSS ACCOUNT

NOK Thousands	Q3 2020	Q3 2019	YTD 2020	YTD 2019	FY 2019
Revenue	49 31 9	55 153	161 614	174783	232,004
Cost of sales	(4341)	(6024)	(14833)	(26706)	(37,049)
Gross margin	44 978	49 1 29	146781	148 077	194,955
Operating expenses	(32921)	(38 590)	(92199)	(111 444)	(157, 108)
EBITDA*	12057	10 539	54 582	36 633	37,847
Depreciation of tangible assets	196	450	560	1271	890
Depreciation of intangible assets	3768	3 4 8 3	11 218	10418	13,887
Amortisation of goodwill	22017	22 017	66 051	66 051	95,247
Total depreciation and amortization	25 981	25 950	77829	77 740	110,024
Earnings before interest & taxation	(13924)	(15411)	(23 247)	(41107)	(72, 177)
Net financial items	(11 664)	(14382)	(39 514)	(29 292)	(44, 345)
Profit before tax	(25 588)	(29793)	(62761)	(70399)	(116, 522)
Taxation	(16)	(27)	353	458	$-825$
Net profit	(25604)	(29 820)	(62, 408)	(69941)	(117, 347)

BALANCE SHEET 30.09.2020 30.09.2019 FY 2019

FIXED ASSETS
TOTAL FIXED ASSETS
CURRENT ASSETS
TOTAL CURRENT ASSETS
TOTAL ASSETS

EQUITY
TOTAL EQUITY
LIABILITIES
TOTAL LIABILITIES
TOTAL EQUITY AND LIABILITIES

CASHFLOWS

NOK thousands
CASH GENERATED FROM OPERATIONS
INCREASE / (DECREASE) IN CASH