Crayon Group Holding — Earnings Release 2021

May 11, 2021

Crayon Group Holding ASA: Financial results for Q1 2021

Crayon Group Holding ASA: Financial results for Q1 2021

Crayon reports a record first quarter

Oslo, 11 May 2021: Crayon Group Holding ASA ("Crayon" or the "Company", OSE ticker code "CRAYON") reports its first-quarter earnings today that showed a gross profit growth of 23%, largely driven by a strong software and cloud performance.

“As companies continue to accelerate their cloud journey, they are increasingly turning to us for our expertise, cost optimization and innovation and that’s reflected in our report,” said Crayon CEO Melissa Mulholland. “In addition, we are executing our global growth strategy and the results show we can both grow top-line numbers and remain highly profitable.”

Key financial figures for Q1 2021:

- Revenue of NOK 5,522m, 31% growth from NOK 4,203m in Q1 2020

- Gross profit of NOK 635m, 23% growth from NOK 515m in Q1 2020 

- Adjusted EBITDA of NOK 93m, 129% growth from NOK 41m in Q1 2020 

- Net income of NOK 15m, up from NOK -52m in Q1 2020

The interim financial report and presentation for Q1 2021 are enclosed.

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

For further queries, please contact:

Melissa Mulholland

Chief Executive Officer, Crayon Group Holding ASA

Tel.: +47 412 91 163

Email: melissa.mulholland@crayon.com

Jon Birger Syvertsen

Chief Financial Officer, Crayon Group Holding ASA

Tel.: +47 97 19 92 51

Email: Jon.Birger.Syvertsen@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 2,000 employees in 50 offices worldwide.