Crayon Group Holding — Earnings Release 2018

Aug 22, 2018

Crayon Group Holding ASA: Financial results Q2 2018 - Record quarter with strong commercial momentum

Crayon Group Holding ASA: Financial results Q2 2018 - Record quarter with strong commercial momentum

Oslo, 22 August 2018: Crayon Group Holding ASA ("Crayon" or the "Company", OSE ticker code "CRAYON") reports another consecutive quarter of strong year-over-year ("YoY") organic revenue and gross profit growth across all business areas and market clusters. Q2 2018 revenue growth was 30% and gross profit growth was 15% compared to Q2 2017.

Adjusted EBITDA in Q2 2018 increased by MNOK 19% (compared to Q1 2017) to MNOK 92. The YoY EBITDA increase in Q2 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 and market clusters. 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 Q2 2018:

- Revenue of MNOK 3,125 in Q2 2018, 30% growth from MNOK 2,402 in Q2 2017

- Gross profit of MNOK 408 in Q2 2018, 15% growth from MNOK 357 in Q2 2017

- Adjusted EBITDA of MNOK 92 in Q2 2018, 19% growth from MNOK 77 in Q2 2017

The interim financial report and presentation for Q2 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, Head of IR 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.