SoftwareONE Holding AG — Earnings Release 2021

Sep 3, 2021

Ørn Software Holding AS (ORN) - First half and second quarter 2021 financial results

Ørn Software Holding AS (ORN) - First half and second quarter 2021 financial results

3.9.2021 07:00:01 CEST | Ørn Software Holding AS | Half yearly financial reports

and audit reports / limited reviews

Trondheim, September 3, 2021 - Ørn Software Holding AS today reported its

results for the first quarter 2021, showing NOK 145.5 million in annual

recurring revenue (ARR), a growth of 103 percent year-on-year. Operating revenue

in the first quarter was NOK 37.8 million, 93 percent higher than in the same

period last year. Adjusted EBITDA increased with 69 percent to NOK 8.5 million,

implying an EBITDA margin of 22.4 percent. Reported EBITDA was NOK 6.6 million,

affected by 1.9 million in special items related to the IPO and listing on

Euronext Growth.

"The second quarter of 2021 was another strong quarter for Ørn Software where we

continued to deliver on our aggressive expansion strategy driven by active M&A

and organic growth. During the second quarter we announced two acquisitions:

Landax and Rapal. These highly attractive additions to our portfolio are

perfectly aligned with our M&A priorities, increasing our ARR, broadening our

product offering and growing our geographical footprint. The Rapal acquisition

was closed in July, but if it was included in Q2, ARR would have been NOK 205

million. Cross sales and synergies on product and technology development across

our portfolio is an important part of Ørn Software's growth story. In Q2, we

have continued our work to enhance our sales capacity to leverage the broad

product portfolio and potential for cross sales," said CEO of Ørn Software

Sten-Roger Karlsen.

On the back of the three successful acquisitions in 2021, Ørn Software has

decided to upgrade its 2025 revenue growth ambition. The new target is to grow

ARR organically to NOK 430 million, compared to the previous goal of NOK 300

million. This means that the implied target for organic growth rate remains

unchanged. The long-term ambition of EBITDA margin above 40 percent remains

unchanged.

"We have a strong portfolio of software solutions for real estate management,

data-driven maintenance scheduling, quality management, and energy optimization,

with customers in all Nordic countries. This is a highly attractive segment,

with an estimated Nordic market potential of NOK 12 billion, of which only NOK

2.6 billion is currently being served. We expect to maintain a leading role in

this space in the years to come, building on our high user satisfaction,

evidenced by very low churn rates, proven M&A methodology and strong sales

performance. After the successful listing on Euronext Growth in Q1 2021, we have

a strong financial platform to deliver on our ambitions," said Sten-Roger

Karlsen.

WEBCAST PRESENTATION

In connection with the results, Ørn Software will hold an English language

webcast presentation today September 3, 2021 at 09:00 (CEST), followed by a live

Q&A session. Viewers are welcome to post written questions through the webcast

player.

Representatives from Ørn Software will be CEO Sten-Roger Karlsen and CFO Vidar

André Løken.

The webcast will be available live and as a recording on the following link:

https://channel.royalcast.com/hegnarmedia/#!/hegnarmedia/20210903_2

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.

DISCLOSURE REGULATION

?This information is such that Ørn Software Holding AS is required to disclose

in accordance with the EU Market Abuse Regulation.

?This information was submitted for publication by the Company's CFO, Vidar

Andre Løken.

CONTACTS

* Sten-Roger Karlsen, CEO Ørn Software, +47 922 62 321, srk@ornsoftware.com

* Vidar Andre Løken, CFO Ørn Software, +47 952 60 926, val@ornsoftware.com

ABOUT ØRN SOFTWARE HOLDING AS

Ørn Software is a Nordic provider of SaaS solutions enabling efficient

operations and maintenance across a wide range of asset-heavy industries,

including real estate, manufacturing, food & beverages, and aquaculture.

The Group's software provides customers with improved insight through

data-driven operations and contributes to increased efficiency and reduced costs

through digitalization of rental processes, data-driven maintenance scheduling

and energy optimization. All of the above contribute to the lengthening of

property and equipment lifespan, a key component of Ørn Software's value

proposition. Furthermore, the Group's offering enables customers to reduce their

environmental footprint and provides digital tools to meet reporting and

regulatory requirements.

ATTACHMENTS

Download announcement as PDF.pdf -

https://kommunikasjon.ntb.no/ir-files/17847696/821/1081/Download%20announcement%

20as%20PDF.pdf

ORN_Orn_Software_Q2 2021_Report.pdf -

https://kommunikasjon.ntb.no/ir-files/17847696/821/1079/ORN_Orn_Software_Q2%2020

21_Report.pdf

ORN_Orn_Software_Q2_2021_presentation_030921.pdf -

https://kommunikasjon.ntb.no/ir-files/17847696/821/1080/ORN_Orn_Software_Q2_2021

_presentation_030921.pdf