SmartCraft ASA — Earnings Release 2021

Aug 24, 2021

SmartCraft ASA (SMCRT) - First half-year and second quarter 2021 financial results

SmartCraft ASA (SMCRT) - First half-year and second quarter 2021 financial results

24.8.2021 07:00:00 CEST | SmartCraft ASA | Half yearly financial reports and

audit reports / limited reviews

24 August 2021 - SmartCraft ASA today reported its results for the first

half-year and second quarter 2021, showing revenue of NOK 63.9 million in the

second quarter, a growth of 36 percent compared to the same quarter in 2020.

Currency adjusted organic growth was 18 percent. The adjusted EBITDA increased

43 percent, and the adjusted EBITDA margin was 47 percent, compared to 45

percent in Q2 2020. Reported EBITDA margin was 10 percent, negatively affected

by special items related to the and IPO on Oslo Børs in June.

At the end of Q2 SmartCraft had annual recurring revenue (ARR) of NOK 216

million, 29 percent higher than in Q2 2020. 94 percent of SmartCraft's revenue

in Q2 2021 was recurring, an unchanged ratio since Q2 2020. Average revenue per

customer grew from NOK 22,446 to NOK 27,101.

"We concluded our first quarter as a listed company on Oslo Børs continuing our

history of strong growth and high profitability. The organic growth of 18

percent and strong EBITDA margin confirm the value proposition for our customers

and the strength of our SaaS based business model. We are on the right track

when it comes to delivering on our strategy and target to grow organic revenue

with 15-20 per year in the medium term. In addition, we continue to deliver on

our strategic ambition to grow our business by acquiring SaaS companies that

complement our existing portfolio," CEO of SmartCraft Gustav Line said.

"The capital raise and listing on Oslo Børs provided us with a strong

shareholder base and a solid financial platform for growth. In the second

half-year we will focus particularly on integrating and leveraging the two

recently acquired companies, HomeRun and Kvalitetskontroll, reaping synergies on

sales, product and technology across the group," Gustav Line continued.

As the leading Nordic provider of mission-critical SaaS solutions to small and

mid-sized companies in the construction sector, SmartCraft operates in a NOK

10.5 billion software market in the Nordics, a market growing at double-digit

rate. The construction industry is among the least digitalized industries, and

SmartCraft's solutions help customers to increase their productivity, margins,

and resource efficiency.

"With our strong profitability, healthy balance sheet and solid market position,

we are perfectly positioned to play a vital role in the digitization of the

construction industry in the years to come, Gustav Line concludes.

WEBCAST PRESENTATION

Investors, analysts and journalists are welcome to join to an English language

webcast presentation of the report today, Tuesday 24 August 2021, at 08:00 CEST.

Webcast link:

https://channel.royalcast.com/hegnarmedia/#!/hegnarmedia/20210824_5

Webcast link:

https://smartcraftready.com/investor-relations/presentation-of-second-quarter-an

d-first-half-year-results-2021/

Presenters: CEO Gustav Line and CFO Kjartan Bø

Viewers are welcome to submit written questions through the webcast player

during and after the presentation.

A recording of the presentation will be available on the same link and at

https://smartcraftready.com/investor-relations/ after the live stream is

concluded.

DISCLOSURE REGULATION

This information is considered to be inside information pursuant to the EU

Market Abuse Regulation, and is subject to the disclosure requirements pursuant

to section 5-12 of the Norwegian Securities Trading Act.

The stock exchange announcement was published by the contact person, at the date

and time as set out above.

CONTACTS

* Gustav Line, CEO, +47 952 67 104, gustav.line@smartcraft.no

* Kjartan Bø, CFO, +47 410 27 000, kjartan.bo@smartcraft.no

ABOUT SMARTCRAFT ASA

SmartCraft is the leading Nordic provider of mission-critical SaaS solutions to

SME's in the construction sector. The company's business model is highly

scalable, based on 94% recurring revenue and low churn. The construction sector

is among the least digitalized industries and represents a NOK 10bn software

market in the Nordics, growing at a double-digit rate. SmartCraft's solutions

help customers to increase their productivity, margins, and resource efficiency.

ATTACHMENTS

SmartCraft ASA Q2 2021 report.pdf -

https://kommunikasjon.ntb.no/ir-files/17847761/792/1025/SmartCraft%20ASA%20Q2%20

2021%20report.pdf

SmartCraft ASA Q2 2021 presentation.pdf -

https://kommunikasjon.ntb.no/ir-files/17847761/792/1026/SmartCraft%20ASA%20Q2%20

2021%20presentation.pdf