(Oslo, Norway, 24 May 2022) Arribatec Group ASA (OSE:ARR, Arribatec) today
reported revenues of NOK 125.9 million in the first quarter of 2022, up 27% from
NOK 99.2 million in the corresponding quarter last year, and an adjusted EBITDA
of NOK - 2.6 million (9.8).
"We continue the growth and have increased our recurring revenue yet again. Our
partnership strategy supports our growth story, and several wins have been
achieved through joint efforts with our partners. Now that we can see the
beginning of the end of the integration- and structuring phase, we are excited.
" says Geir Johansen, CEO of Arribatec.
Arribatec reported revenues of NOK 125.9 million in the first quarter of 2022
(99.2) and an EBITDA of NOK -6.2 million (9.8). The reported EBIT ended at a
negative NOK 18.9 million (3.0), with recognized recurring revenues of NOK 46.8
million (30.9). The company had NOK 37.4 million in cash at the end of the first
quarter of 2022.
"We continue to invest in business development to fuel organic growth and take
advantage of the cross-sales opportunities between our largest business areas.
Our backlog and our pipeline are strong, and we are ready for what lies ahead, "
Johansen concludes.
The presentation and the board of directors' financial report for the first
quarter of 2022 are enclosed.
*EBITDA and other alternative performance measures (APMs) are defined and
reconciled to the IFRS financial statements as a part of the APM section of the
2021 first-quarter report on page 31.
Arribatec Group ASA will host a web presentation of the first quarter financial
results 2022 on Tuesday, 24 May 2022, at 08:30 CET. The presentation will be
streamed live at
https://www.arribatec.com/q1-2022/
ENDS
For additional information, please contact:
Geir Johansen, CEO, Arribatec Group ASA: +47 4771 0451
Martin Nes, Chairman of the Board, Arribatec Group ASA: +47 920 14 814
This information is considered to be inside information according to the EU
Market Abuse Regulation and is subject of the disclosure requirements according
to section 5-12 of the Norwegian Securities Trading Act. This stock exchange
announcement was published by Geir Johansen, CEO, Arribatec Group ASA, on 28
February 2022 at 07:00 CET.
About Arribatec | www.arribatec.com
Arribatec is a software and consulting company headquartered in Oslo. With a
customer-centric engagement model, combined with a deep system, integration, and
domain competence, Arribatec builds long-term strategic partnerships with a
broad customer base. Arribatec serves more than 1000 large entities spread over
25 countries and various industries, both in the private and public sectors. The
company employs over 420 people with offices in 17 countries and is listed on
the Oslo Stock Exchange under the ticker code ARR.