Arribatec Group ASA

Earnings Release • Feb 28, 2022

Arribatec Group ASA - Fourth quarter 2021 financial results

Arribatec Group ASA - Fourth quarter 2021 financial results

(Oslo, Norway, 28 February 2022) Arribatec Group ASA (OSE:ARR, Arribatec) today reported revenues of NOK 116.0 million in the fourth quarter of 2021, up 91% from NOK 60.8 million in the corresponding quarter in 2020, and an adjusted EBITDA of NOK – 0.9 million (6.9). The company has a solid backlog and reiterates the positive outlook for 2022.

“We delivered all-time high revenues of NOK 116 million in the fourth quarter, landed important contracts across our five business areas, and continue to bring new colleagues to the global team. The implementation of our M&A strategy continues to yield results and the integration of the acquired companies and our common business development initiatives has led to several important project wins. We have a solid backlog for 2022 and we are excited about the opportunities we see in the market. 2022, “ says Geir Johansen, CEO of Arribatec.

Arribatec reported revenues of NOK 116 million in the fourth quarter of 2021 (60.8) and an adjusted EBITDA of NOK -0.9 million (6.9). Reported EBITDA was negative NOK 4.5 million (-53.2), with recognized recurring revenues of NOK 36.9 million (12.8). The reported EBIT ended at NOK -26.9 million (-58.0) and the company held NOK 43.8 million in cash at the end of 2021.

For the full year 2021, Arribatec reported revenues of NOK 413.9 million (154.0) and an adjusted EBITDA of NOK –1.6 million (14.9). The reported EBITDA was negative NOK 6.8 million (-45.3), The reported EBIT ended at NOK -49.8 million (-52.5).

“During the fourth quarter, we continued the streamlining of the internal work processes and enhance production systems to increase efficiency and reduce unit cost over time. Additionally, the global sales organization is optimizing the sales process to take full advantage of all cross-selling opportunities across the group. With our strong backlog and momentum, we reiterate the positive outlook for 2022, “ Johansen concludes.

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

EBITDA/Adjusted 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 fourth-quarter report on page 25.

Arribatec Group ASA will host a presentation of the fourth quarter financial results 2022 on Monday 28 February 2022 at Hotel Continental, Stortingsgata 24/26, Oslo, at 08:30 CET. The presentation will be streamed live at

https://www.arribatec.com/live-stream-q4-2021/

ENDS

For additional information, please contact:

Geir Johansen, CEO, Arribatec Group ASA: +47 4771 0451

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, CEO, Arribatec Group ASA, on 28 February 2022 at 07:00 CET.

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 in the private and public sectors. The company employs over 400 people with offices in 17 countries, and is listed on the Oslo Stock Exchange under the ticker code ARR.