SoftwareONE Holding AG — Earnings Release 2021

May 28, 2021

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

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

28.5.2021 07:00:00 CEST | Ørn Software Holding AS | Half yearly financial

reports and audit reports / limited reviews

Trondheim, May 28, 2021 - Ørn Software Holding AS today reported its results for

the first quarter 2021, showing NOK 124.1 million in annual recurring revenue

(ARR), a growth of 69 percent year-on-year. Operating revenue in the first

quarter was NOK 31.2 million, 56 percent higher than in the same period last

year. Adjusted EBITDA increased with 127 percent to NOK 7.5 million, implying an

EBITDA margin of 24 percent, up from 19 percent in Q1 2020. Reported EBITDA was

NOK -8.2 million, affected by 15.7 million in special items related to the IPO

and listing on Euronext Growth in March 2021.

"The first quarter of 2021 has been eventful and busy for Ørn Software and the

team, with continued growth, M&A activity, product development and the

preparation for a successful listing on the Euronext Growth stock exchange. The

strong growth in ARR and increased adjusted EBITDA margin serve as proof-points

for Ørn Software being on the right track for our 2021 priorities and 2025

ambitions. We have been ramping up our sales capacities to further leverage our

product portfolio and exploit synergies. This is expected to bring additional

organic growth as of second half 2021," said CEO of Ørn Software, Sten-Roger

Karlsen.

Ørn Software provides digital tools for digitalization of rental processes,

data-driven maintenance scheduling and energy optimization, and the company's

growth is driven by its customers' wish to increase efficiency and

competitiveness by adapting digital tools, as well as corporate social

responsibility combined with regulations related to the green shift. The

estimated NOK 12 billion Nordic market for software within Ørn's segments

continues to grow, and only NOK 2.6 billion is currently served.

"Our best-of-breed offering hits a sweet spot in a market highly affected by the

ongoing industrial digitalization, as well as mega-trends like Smart Buildings,

Industry 4.0 and the Green Shift. We continue to execute on our growth plan. We

have a proven M&A track record, and In Q1 we acquired Facilit, followed by the

agreement to acquire Landax in May. This brings the total up to six acquisitions

over the last 18 months. Additionally, we have high ambitions for organic

growth, and our target is to organically grow our ARR to NOK 300 million and

reach 40 percent EBITDA margin by 2025," said Karlsen.

WEBCAST PRESENTATION

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

webcast presentation 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/20210528_3

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/17847696/602/824/Download%20announcement%2

0as%20PDF.pdf

ORN_Q1_2021_report.pdf -

https://kommunikasjon.ntb.no/ir-files/17847696/602/822/ORN_Q1_2021_report.pdf

ORN_Q1_2021_presentation.pdf -

https://kommunikasjon.ntb.no/ir-files/17847696/602/823/ORN_Q1_2021_presentation.

pdf