* Q2 2019 revenue increased 56% to NOK 105.9 million from NOK 68.1 million in Q2
2018 
- Inclusion of Infront Italia
- Continued strong quarterly growth in UK, South Africa and Finland 
- Positive contribution from Infront Web Technology solutions

* Q2 2019 EBITDA of NOK 20.8 million adjusted for M&A costs (NOK 10.7 million) 
- Strong revenue growth and positive impact from cost synergies partly offset by
continued growth investments in organisation, geographic expansion and product
development 
- Q2 2019 EBITDA including M&A costs of NOK 10.1 million (NOK 11 million)  

* Number of paying professional users increased to 38.7k, up from 17.7k in Q2
2018
* Signed vwd acquisition to become a top-three financial terminal provider in
Europe 
Adds ~50 000 professional users, ~2 400 customers and approximately NOK 700
million of annual revenue
- Highly complementary operations with significant cross- and upselling
opportunities, and significant cost savings identified
- Platform for future growth across Europe and in other markets 
- Financed through EUR 105 million bond issue and NOK 242.6 million rights
issue, both successfully completed in Q2 2019

Oslo, 22 August: Infront ASA (INFRNT) today announced its interim results for Q2
2019. Group revenue was NOK 105.9 million (NOK 68.1 million), an increase of 56%
from the same quarter last year, driven by higher sales and prices across the
group, full revenue recognition from Infront Italia, as well as continued growth
in new markets led by South Africa and UK. 

Q2 2019 EBITDA included vwd Group transaction-related costs of NOK 10.1 million.
Adjusted EBITDA increased to NOK 20.8 million from adjusted EBITDA of NOK 10.7
million in Q2 2018. Before implementation of IFRS 16, adjusted EBITDA amounted
to NOK 18.6 million compared to NOK 10.7 million in adjusted EBITDA for the same
period last year. The increase was mainly due to the inclusion of Infront
Italia.

On 17 July, Infront completed the acquisition of vwd from a fund managed by The
Carlyle Group to create the leading European financial market solutions
provider. The acquisition of vwd was initially announced on 11 April 2019. The
final purchase price was approximately EUR 130 million on an enterprise value
basis financed through the issue of a four-year EUR 105 million bond in April
and an over-subscribed NOK 242.6 million rights issue that was completed in
June. 

 “We are building a very strong platform for future growth across European and
international markets with a highly competent organisation and state-of-the-art
solutions. The integration process is underway; we have started to explore
cross- and upselling opportunities from an expanded product range, and we are
capturing significant cost synergies. As a top-three provider of financial
terminals in Europe, we are uniquely positioned to offer innovative,
value-adding products and services to both existing and new customers.,” said
Kristian Nesbak, CEO and Founder of Infront.

vwd Group will be included in Infront’s financial accounts from the third
quarter of 2019. As a result of the acquisition, the Board of Directors of
Infront has unanimously voted to change the presentation currency in the group’s
consolidated financial statements from Norwegian kroner (NOK) to Euro (EUR) from
Q3 2019.

Infront generates most of its revenue based on recurring subscription contracts
for the products. Subscription revenue represented 99% of total sales in Q2
2019. 

Please find the full financial report and presentation enclosed.

Webcast
CEO Kristian Nesbak and CFO Max Hofer will present the results via a webcast at
10.00 CEST at: https://infrontfinance.com/ir/webcast-q2-2019/ 

Please send any questions to ir@infrontfinance.com. The presenters are also
available for questions after the presentation, please schedule a time via the
same email. A recording of the presentation will be available on the website
shortly after the live webcast has ended.

For further information please contact: 
Kristian Nesbak, CEO of Infront, +47 940 04 000
Max Hofer, CFO of Infront, +47 971 48 953

The interim report and presentation are also available on the investor relations
pages at www.infrontfinance.com/investor-relations  

About Infront
Infront offers a powerful combination of global market data, news, analytics and
trading tools. With the recent acquisition of vwd Group, Infront’s product
coverage also includes data and feed solutions, solutions for portfolio
management and advisory, regulatory compliance as well as publication and
distribution solutions. Our combined 3,600 customers and over 90,000
professional users benefit from the highest level of expertise in regulation,
private wealth, market data and the frictionless interaction of the diverse
solutions and products covering their complete workflow. 

More than 500 employees in 14 countries across Europe and South Africa apply
their expertise to meet the challenges of our clients, ensuring they
continuously receive the best solutions and services.
Infront is listed on the Oslo Stock Exchange.