Second Quarter and First Half of 2021 Results
July 14, 2021
StrongPoint ASA reported revenues of NOK 252 million in the second quarter of 2021, up from NOK 222 million in the same quarter in 2020 and an EBITDA of NOK 12 million (17). StrongPoint has transformed into a retail technology company and reiterates the financial ambition of NOK 2.5 billion in revenues and EBITDA margins of 13-15 % in 2025.
“As societies prepare for a relatively more ‘normal’ summer, the grocery retail megatrends continue to impact the industry. This includes grocery e-commerce growing across the board and higher customer expectations for in-stores experiences, frictionless shopping and food safety. All these trends – and more – are resulting in an increased margin pressure on grocery retailers’ stores and consequently, additional technology solutions are needed to drive efficiency gains,” says Jacob Tveraabak, Chief Executive Officer of StrongPoint.
StrongPoint reported revenues of NOK 252 million (222) in the second quarter of 2021 and an EBITDA of NOK 12 million (17). The EBITDA* was negatively impacted by a total of NOK 20 million in the quarter from negative operations and write-downs of inventory in Spain. The EBT ended at NOK 6.9 (7.1) million from the continued operations in the quarter.
“At the end of June, we announced the divestment of our Labels business, and completed our strategy to becoming a pure Retail Technology company. I am very pleased with the price that our Labels business achieved which we will invest into our core focus and business of Retail Technology,” Tveraabak continues.
Following the sale of the Labels business StrongPoint reconfirmed its financial ambition of NOK 2.5 billion in revenues and EBITDA margins of 13-15 % in 2025.
“Having completed the second quarter and first half year of 2021, I am proud of the results the organization has delivered thus far. At the same time, I am excited for what is to come. Our team is growing stronger day-by-day, our solutions are constantly improving, and we are becoming increasingly relevant for grocery retailers all over,” Tveraabak concludes.