Arribatec Group ASA

Earnings Release • Feb 15, 2024

Arribatec Group ASA – Fourth quarter 2023 financial results

Arribatec Group ASA – Fourth quarter 2023 financial results

(Oslo, Norway, 15 February 2024) Arribatec Group ASA (OSE: ARR, Arribatec) today reported revenues of NOK 142.6 million in the fourth quarter of 2022, up 1.7% from NOK 140.6 million in the corresponding quarter last year. EBITDA for the quarter ended at NOK 1.8 million (-9.7), an 11.5 million improvement compared to the same quarter last year. During the last quarter of the year, the company signed 459 new contracts and scope extensions for a combined value of NOK 215 million, which is NOK 87 million (68%) above the fourth quarter of 2022.

“We are pleased to report another quarter with growth in revenue, in particular since the growth is all organic. Additionally, we improved the quarterly EBITDA by NOK 11.5 million. With new sales of NOK 215 million in Q4, we see that the market responds well to our offering, so we are on the right track and remain optimistic looking forward,” says Geir Johansen, CEO of Arribatec.

Arribatec reported revenues of NOK 142.6 million (140.6) in the fourth quarter of 2023 and an EBITDA of NOK 1.8 million (-9.7). The reported EBIT ended at a negative NOK 9.4 million (-26.3), with recognized recurring revenues of NOK 55.0 million (49.8). The company had NOK 39.4 million (40.4) in cash at the end of the fourth quarter 2023.

For the full year 2023, the company reported a revenue of NOK 573.0 million (505.0), a 13.5% growth compared to 2022. EBITDA for the year ended at NOK 24.5 million (-34.1), an improvement og NOK 58.6 million. The 2023 EBIT ended at a negative NOK 23.8 million (-90.3), with recognized recurring revenues of NOK 214.2 million (184.5).

The Board of Directors’ financial report for the fourth quarter of 2023 is 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 2023 fourth-quarter report on page 33.

Arribatec Group ASA will host a web presentation of the second quarter financial results 2023 on Thursday, 15 February 2023, at 09:00 CET. The presentation will be streamed live at

https://www.arribatec.com/arribatec-q4-2023/

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

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 1700 companies spread over 25 countries and various industries in the private and public sectors. The company employs over 400 people with offices in 11 countries and is listed on the Oslo Stock Exchange under the ticker code ARR.