SmartCraft ASA

Earnings Release • Apr 10, 2025

SmartCraft ASA (SMCRT) - Annual Report 2024

SmartCraft ASA (SMCRT) - Annual Report 2024

10 April 2025 - SmartCraft ASA, the leading Nordic provider of mission-critical

SaaS solutions to small and mid-sized companies in the construction sector,

today published its Annual- and ESG reports for 2024. The reports are enclosed,

together with the company's annual financial statements in European Single

Electronic Format (ESEF). The documents are also available on the Company's

website.

"In 2024 we continued to build on our track record of steady, high growth,

strong profitability and excellent cash flow. We ended the year with annual

recurring revenue (ARR) of NOK 482 million, 25 percent higher than one year

earlier. Organic growth was 8 percent, driven by a combination of organic

factors and acquisitions," said CEO of SmartCraft Gustav Line.

SmartCraft's revenues ended at NOK 482 million, while the adjusted EBITDA-capex

was NOK 141 million in 2024, representing a margin of 28 percent.

"The construction industry is still one of the least digitalized industries.

Many companies still use pen and paper or simple spreadsheets instead of

specialized systems, so the outlook for massive future growth both from new and

existing customers is very much intact. 2024 was a year of significant progress

for SmartCraft, and we made two important acquisitions, Locka in Sweden and

Clixifix in the UK. The acquisition in the UK implies a significant increase in

TAM for SmartCraft," said Gustav Line.

SmartCraft's main customer segment, small and medium sized enterprises primarily

focusing on maintenance, which is less macro sensitive than new construction

segment. Nevertheless, SmartCraft's growth is hampered by the weak macro

conditions.

"SmartCraft targets 15-20 percent medium term organic growth with the addition

of bolt on acquisitions. In 2024 our growth rate was lower, as the construction

industry is facing the most challenging conditions in decades. However, we see

that new sales continues to work well. This means that we are confident in our

medium-term outlook. When macro eventually improves, we expect customer churn to

decrease, customers to start upscaling their use of our tools, and organic

growth to return to our target range a higher level, with increasing EBITDA

margins due to scalability of the business," said Gustav Line.

SmartCraft today published its first standalone ESG report.

"By providing digital tools that simplify everyday tasks for thousands of

construction companies, we contribute to building a safer, more sustainable, and

more productive industry," said Gustav Line.

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.

CONTACTS

* Gustav Line, CEO, +47 952 67 104, gustav.line@smartcraft.com

* Kjartan Bø, CFO, +47 410 27 000, kjartan.bo@smartcraft.com

ABOUT SMARTCRAFT ASA

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

SMEs in the construction sector, increasing their productivity, margins, and

resource efficiency. The Group currently has more than 13 400 customers and 270

employees distributed across Norway, Sweden, Finland and UK. SmartCraft was

listed on the Oslo Stock Exchange in June 2021.