First quarter 2023 financial results
(Oslo, 27 April 2023) StrongPoint ASA reported revenues of NOK 381 million in the first quarter of 2023, NOK 80 million higher than same quarter in 2022 (301). The EBITDA increased by NOK 2 million to NOK 13.5 million (11.5). StrongPoint today reconfirms the financial ambition of NOK 2.5 billion in revenues and EBITDA margins of 13-15 % in 2025.
“As the world’s markets in general reach all-time high levels of uncertainty, the grocery retail market remains relatively stable and resilient. The unprecedented pressure on household disposable income shakes the equilibrium in the different grocery retail markets. In this context, I am pleased on behalf of StrongPoint that we are experiencing a continued solid demand for our solutions,” says Jacob Tveraabak, Chief Executive Officer of StrongPoint.
StrongPoint reported revenues of NOK 381 million (301) in the first quarter of 2023 and an EBITDA of 13.5 million (11.5). The first quarter EBIT was NOK 4.0 million and EBT was NOK 7.6 million. Cash flow from operating activities was NOK -44.2 million (11.9).
“We remain positive about the long-term outlook for e-commerce and the industry’s willingness and necessity to invest in efficiency solutions that StrongPoint represents. This is especially true in the large UK market, which we entered through the acquisition of Air Link Group last year. I believe that the UK market is ripe for both our world-class e-commerce solutions as well as the many other efficiency enhancing solutions we represent,” Tveraabak continues.
In a strategy update session held in February 2023, StrongPoint reiterated the ambition of NOK 2.5 billion in revenues and EBITDA margins of 13-15 % in 2025.
“The long-term market trend of needing ever more efficiency saving solutions, in which technology plays a pivotal role, will continue to support the markets in which we operate. The path to achieving our 2025 financial ambitions will most certainly not be a linear journey. There will be quarterly fluctuations, in particular as we still are – to a large extent – a project-driven organisation. That said, we continue to be confident in achieving our 2025 strategic ambitions,” Tveraabak concludes.