28.4.2021 07:00:00 CEST | StrongPoint | Half yearly financial reports and audit
reports / limited reviews
(Oslo, Norway, 28 April 2021) StrongPoint ASA (StrongPoint, OSE: STRO) reported
revenues of NOK 296 million (259) in the first quarter of 2021, which represents
a 15% growth. Retail Technology grew 15% to NOK 253 million from NOK 220 million
in the same quarter in 2020. The EBITDA was NOK 20 million (16).
"The global COVID-19 pandemic continues to impact the world and continues to
have ramifications on our operations at the start of 2021. As a retail
technology company, the sum of the impact on our business is positive. This is
evident within grocery e-commerce as both established grocery retail companies
and new entrants fiercely compete for customer's favor. Simultaneously, it is
clear that grocery retailers are bracing for the year to come in their brick and
mortar stores. As economies are slowly opening up again, grocery retailer's top
line growth will be challenged. This stimulates in-store technology investments
to ensure stores' competitiveness going forward," says Jacob Tveraabak, Chief
Executive Officer of StrongPoint.
StrongPoint reported revenues of NOK 296 million (259) in the first quarter of
2021 and an EBITDA of NOK 20 million (16). Reported operating profit was NOK 9.9
million, up from NOK 5.9 million in the corresponding quarter 2020. Cash flow
from operating activities increased to NOK 22 million in the quarter, up from
minus NOK 5 million after Q1 2020.
"One of the key announcements in this quarter was the Glovo partnership. Glovo
is one of the leading delivery platforms in Europe with operations in more than
20 countries. Like most other similar companies, Glovo has really stepped up the
game within grocery deliveries following the pandemic. The realization of the
complexity of e-grocery led them to choose StrongPoint for their in-store
grocery order picking. The fact that a technology unicorn such as Glovo opts for
our solution proves the strength and potential of our e-commerce order picking
solution," Tveraabak continues.
In a strategy update session in the first quarter of 2021, StrongPoint
reconfirmed its target of becoming retailers trusted in-store and e-commerce
technology provider, with a strategic ambition of NOK 2.5 billion in revenues
and EBITDA margins of 13-15 % in 2025.
"StrongPoint's 'double opportunity' - delivering in-store efficiency solutions
and e-commerce logistics to grocery retailers - is greater today than ever
before. More and more so it becomes evident that the shift of shopping behavior,
accelerated by the COVID-19 pandemic, will provide ample opportunities for
StrongPoint going forward," Tveraabak concludes.
StrongPoint ASA will present the financial results for the first quarter 2021 at
08:15 CET Wednesday 28 April 2021. The Company's Annual General Meeting will
follow the first quarter presentation, starting at 09:00 am CET. The Annual
General Meeting is held digitally due to the COVID-19 virus situation. The link
to both presentations and webcasts can be found on StrongPoint's website and
below: Investor - StrongPoint -
StrongPoint Webcast Q1 2021 (royalcast.com) -
StrongPoint Ordinary General Meeting (royalcast.com) -
This information is subject to the disclosure requirements pursuant to Section
5-12 the Norwegian Securities Trading Act.
* Hilde Horn Gilen, CFO StrongPoint ASA, +47 920 60 158,
StrongPoint is a retail technology company that provides solutions to make shops
smarter, shopping experiences better and online grocery shopping more efficient.
With over 450 employees in Norway, Sweden, the Baltics and Spain and together
with a wide partner network, StrongPoint supports businesses in more than 20
countries. StrongPoint provides cash management and payment solutions,
electronic shelf and self-adhesive labels, click & collect
temperature-controlled grocery lockers, self-checkouts, and in-store and
warehouse grocery picking solutions. StrongPoint is headquartered in Norway and
is listed on the Oslo Stock Exchange with a revenue of 1,1bn NOK [ticker: STRO].
Download announcement as PDF.pdf -
StrongPoint Q1 2021 screen.pdf -
StrongPoint Q1 2021 print.pdf -
StrongPoint Q1 2021 presentation.pdf -
This information was distributed by Oslo Børs https://www.oslobors.no/