Crayon Group Holding — Earnings Release 2018

Nov 13, 2018

Crayon Group Holding ASA: Financial results Q3 2018 – Consecutive quarter of record results

Crayon Group Holding ASA: Financial results Q3 2018 – Consecutive quarter of record results

Oslo, 13 November 2018: Crayon Group Holding ASA ("Crayon" or the "Company", OSE ticker code "CRAYON") reports a third consecutive quarter of strong year-over-year ("YoY") organic revenue and gross profit growth across all business areas. Q3 2018 revenue growth was 29% and gross profit growth was 36% compared to Q3 2017.

Adjusted EBITDA in Q3 2018 increased by MNOK 15 (compared to Q3 2017) to MNOK 5. The YoY EBITDA increase in Q3 2018 was driven particularly by the Nordics market cluster with strong growth both within software and services.

"Crayon continued to demonstrate strong commercial momentum across all business areas. It is particularly satisfying to see the strong development in the Nordics with significant gross profit and EBITDA improvement, emphasizing the importance of delivering in our core markets.", commented Crayon CEO Torgrim Takle.

Financial Key figures for Q3 2018:

- Revenue of MNOK 1,612 in Q3 2018, 29% growth from MNOK 1,250 in Q3 2017. Last Twelve Months (“LTM”) revenue MNOK 8,885 in Q3 2018

- Gross profit of MNOK 310 in Q3 2018, 36% growth from MNOK 228 in Q3 2017. LTM gross profit MNOK 1,390 in Q3 2018

- Adjusted EBITDA of MNOK 5 in Q3 2018, +15 MNOK from MNOK -9 in Q3 2017. LTM adjusted EBITDA MNOK 168 in Q3 2018

The interim financial report and presentation for Q3 2018 are enclosed.

The report, presentation and webcast of the presentation will be made available at https://www.crayon.com/en/about-us/investor-relations/

For further queries, please contact:

Torgrim Takle, Chief Executive Officer Crayon Group Holding ASA Tel.: +47 95 14 07 82

Email: torgrim@crayon.com

Magnus Hofshagen, FP&A and IR Director Crayon Group Holding ASA

Tel.: +47 48 49 91 95

Email: magnus.hofshagen@crayon.com

About Crayon

Crayon Group Holding ASA is a leading IT advisory firm in software and digital transformation services. With unique IP tools and skilled employees, Crayon help optimize its clients' ROI from complex software technology investments. Crayon have long experience within volume software licensing optimization, digital engineering, predictive analytics and assists the clients through all phases of the process of a digital transformation. Headquartered in Oslo, Norway, the company has approximately 1,100 employees in 43 offices worldwide.