Arribatec Group ASA

Earnings Release • Nov 11, 2021

Arribatec Group ASA - Third quarter 2021 financial results

Arribatec Group ASA - Third quarter 2021 financial results

(Oslo, Norway, 11 November 2021) Arribatec Group ASA (OSE:ARR, Arribatec) today reported revenues of NOK 94.4 million in the third quarter of 2021, up 253% from NOK 26.7 million in the corresponding quarter last year, and an EBITDA of NOK – 13.9 million (0.7). The company has an ambitious international growth strategy, reiterates the strong outlook, and expects to grow at a rate of +30% to annual revenue of NOK 550 million in 2022.

“During the third quarter of 2021, our team continued the roll-out of our international growth strategy with a focus on innovation, building recurring revenues, and accelerated global cross-sales. Following the implementation of our M&A strategy in 2021 and our global expansion, we continue to focus on integrating the acquired companies and on our joint business development initiatives across the global organization. This has led to several important wins in southern Europe during the quarter and secures a solid project backlog going into 2022. Arribatec will have a solid platform for further growth and development going into 2022, “ says Per Ronny Stav, CEO of Arribatec.

Arribatec reported revenues of NOK 94.4 million in the third quarter of 2021 (26.7) and an EBITDA of NOK -13.9 million (0.7). The reported EBIT ended at negative NOK 22.0 million (-1.0), with recognized recurring revenues of NOK 40.0 million (5.6). The company has NOK 56.1 million in cash at the end of the third quarter of 2021.

“The third quarter is seasonally a slow period for Arribatec, but our underlying core heritage business delivered over 30% growth, “ Stav adds.

With a customer-centric engagement model, combined with a deep system, integration, and domain competence, Arribatec builds long-term strategic partnerships with a broad customer base.

“We will continue to invest in business development and innovation to fuel organic growth and take advantage of the cross and up-selling opportunities in the new combined organization The large backlog of projects combined with the robust pipeline will also require further recruitments. We expect to see the full effect from these initiatives on the top- and bottom-line early in 2022, and expects full-year revenue of NOK 550 million for 2022, a 30% growth compared to estimated 2021 figures, “ Stav concludes.

The presentation and the board of directors’ financial report for the third quarter of 2021 are enclosed.

*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 2021 third-quarter report on page 26.

Arribatec Group ASA will host a presentation of the third quarter financial results 2021 on Thursday 11 November 2021 at Økern Portal, Lørenfaret 1, at 08:30 CET. The presentation will be streamed live at https://www.arribatec.com/q3-livesteam/

ENDS

For additional information, please contact:

Per Ronny Stav, CEO, Arribatec Group ASA: +47 994 42 378

Martin Nes, Chairman of the Board, Arribatec Group ASA: +47 920 14 814

This information is considered to be inside information pursuant to the EU Market Abuse Regulation and is subject of the disclosure requirements pursuant to section 5-12 of the Norwegian Securities Trading Act. This stock exchange announcement was published by Geir Johansen, CFO, Arribatec Group ASA, on 11 November 2021 at 07:00 CET.

About Arribatec | www.arribatec.com

About Arribatec | www.arribatec.com Arribatec is a software and consulting company headquartered in Oslo. With a customer-centric engagement model, combined with a deep system, integration, and domain competence, Arribatec builds long-term strategic partnerships with a broad customer base. Arribatec serves more than 1000 large entities spread over 25 countries and various industries, both private and public. The company employs over 390 people with offices in 18 countries and is listed on the Oslo Stock Exchange under the ticker code ARR.