Highlights from the fourth quarter 2024:

Profitability improving for the quarter and full-year 2024 

• Recurring revenue annualised increased by 6%y/y, driven by 11% growth in Own Software
• Net gross profit margin at 30%, in line with the same quarter last year
• Continued improvement in EBITA adj. , up 100% y/y to NOK 21.3m in Q4
• Positive cashflow from operations of NOK 71.3m

Solid commercial momentum continues

• Growth across all three markets for hardware and software
• Softness in Advisory & Services within transactional consulting 

Strategic agreements progressing according to plan

• Fully operational with partner devicenow and roll-out on budget 
• First customer onboarded with partner ICE (Norwegian mobile operator)
• Signed LOI with new IT vendor partner covering the UK and Ireland with intention to integrate Techstep's Device Lifecycle Management (signed Q1 2025)

"As we close the fourth quarter, I am proud to share that Techstep has delivered a solid finish to 2024, marked by continued profitability improvements and solid commercial momentum. Recurring revenue reached record highs, driven by a 11% year-over-year growth in our Own Software segment, while our net gross profit remained stable resulting in a 100% higher EBITA adj. compared to last year. Within hardware, we grew across all markets, with Sweden making a strong comeback and Poland and Europe maintaining their solid performance. We continue with the positive development with our partner strategy, with devicenow fully operational and the first successful onboarding of a customer with partner ICE. Recently, we also signed a new LOI with an IT vendor covering the UK and Ireland. As we enter 2025, we are confident in our trajectory to become Europe's leading mobile and circular technology company, supported by our team's dedication and the continued trust of our customers and partners.", comments Morten Meier, CEO of Techstep.

Material

Please find the report and presentation for Q4 2024 enclosed.

Presentation and Q&A:

A live presentation and Q&A session will take place today at 8:00 am CEST and can be accessed by clicking and registering using the following link:

https://events.teams.microsoft.com/event/cff272e2-23ae-48c7-b447-79414f9767e6@56b3dd67-66b5-4d6a-9954-22469dfcf18b

Questions for the Q&A session may be submitted in advance to ir@techstep.no, or live during the session itself. A recording of the Q&A session will be made available on www.techstep.io after the session has concluded.

For more information:

Morten Meier, CEO, Techstep ASA: +47 970 57 717

Ellen Solum, CFO, Techstep ASA: +47 976 66 717

About Techstep

Techstep is a mobile & circular technology company, enabling organisations to perform smartly, securely, and sustainably by combining mobile devices, software and expertise to meet customers' business and ESG goals. We are a leading provider of managed mobility services in Europe, serving more than 2 100 customers in Europe with an annual revenue of NOK 1.1 billion in 2024. The company is listed on the Oslo Stock Exchange under the ticker TECH. To learn more, please visit www.techstep.io.

This information is considered to be inside information pursuant to the EU Market Abuse Regulation and is subject to the disclosure requirements pursuant to Section 5-12 the Norwegian Securities Trading Act. This stock exchange release was published by Ellen Solum, CFO, Techstep ASA, on 14 February 2025 at 07:00 CET.