Third quarter financial results 2019
October 31, 2019
StrongPoint ASA (StrongPoint, OSE: STRONG) reported revenues of NOK 237.3 million in the third quarter of 2019, up from NOK 233.2 million in the same quarter last year, and an EBITDA of 17.8 million (15.2). StrongPoint’s Retail Technology business area continued its strong performance in the quarter, representing a solid platform for profitable growth going forward.
“In the quarter, we continued our transition towards becoming a focused retail technology company, providing retailers the in-store and e-commerce solutions and services they need to improve their productivity and succeed in multi-channel retailing. The strong performance in our Retail Technology business area in the quarter underpins our position and the potential in our transition. We aim to be the retailers’ trusted partner, enabling shopping like never before,“ says Jacob Tveraabak, Chief Executive Officer of StrongPoint.
StrongPoint reported revenues of NOK 237.3 million (233.3) in the third quarter of 2019 and an EBITDA of 17.8 million (15.2), in which IFRS 16 effects totaled NOK 5.7 million. Reported operating profit was NOK 5.5 million, down from NOK 6.6 million in the corresponding quarter last year, while the cash flow from operating activities ended at NOK 0.1 million (1.2).
“Our Retail Technology business area delivered revenue growth of 20 % in the quarter, and the sale of our e-commerce solutions grew by close to 80%. The more volatile Cash Security business influenced the quarterly figures negatively. Labels grew by 7 %. In total, this resulted in a somewhat flat overall performance compared to the same period last year, both in terms of top and bottom line,” says Tveraabak.
The Retail Technology business area develops and markets technology solutions that streamline store operations, enable e-commerce, and simplify and improve the end-customers’ shopping experience. StrongPoint delivers proprietary solutions within in-store productivity, e-commerce, payment solutions and check out efficiency, as well as tailor made retail solutions from leading third-party suppliers.
“The overall market outlook for Retail Technology is promising. For StrongPoint, the shift from offline to online retailing provides a double growth opportunity. Both through supporting retailers, particularly incumbents, in establishing and developing their e-commerce offering, and on the other hand, to support retailers in improving their in-store productivity. Our Retail Technology offering represents a solid platform for future growth,” Tveraabak concludes.
For additional information please contact:
CEO, StrongPoint ASA
Phone +47 90 82 13 70
Hilde Horn Gilen
CFO, StrongPoint ASA
Phone +47 920 60 158