LINK Mobility (LINK) reported revenue of NOK 1,796 million, growing 26% in
fourth quarter 2023 with strong FX tailwind. Organic revenue growth in fixed
currency was 14%. Gross profit and adjusted EBITDA were reported at NOK 385
million and NOK 181 million respectively, with organic growth in fixed FX of 13%
and 24% at the high end of expectations. FY 23 organic growth in fixed FX was 7%
and 15% respectively. Cost reductions completed early 2023 supported full year
scalability. The divestment of the US subsidiary, closed 3 January 2024,
resulted in a significant cash balance, providing opportunity for bond and
potentially share buybacks in addition to accretive M&A. The remaining EUR bond,
maturing in December 2025, is to be refinanced with net debt in the 2 - 2.5x
adjusted EBITDA range, a more conservative policy than previously.

After close of the fourth quarter, LINK finalized the divestiture of its US
subsidiary for an enterprise value of USD 260 million, including a 2024
performance pending cash earnout of up to USD 30 million. The transaction
resulted in a cash reserve of NOK 3.4 billion after closing, providing ample
financing capacity for inorganic growth through M&A.

LINK's recurring and growing business is driven by 50 thousand loyal customers
continuing to increase their usage. The industry is currently observing
increased adoption rates for digital messaging and traction on higher margin
CPaaS solutions. A highly scalable business model ensures adjusted EBITDA
continues to grow faster than gross profit. 

"We are very happy to report growth at the high end of expectations in the final
quarter of 2023. Our commercial refocus has increased the contract backlog and
completed cost reductions further support scalability. A strong cash position of
NOK 3.4 billion provides financial capacity to strengthen acquisition activity
with a significant scope for inorganic growth as the M&A pipeline in Europe
alone exceeds NOK 200 million in additional EBITDA potential", says Thomas
Berge, CEO of LINK.


The quarterly results will be presented in a short audio webcast at 10:00 CET
today by Thomas Berge, CEO and Morten Edvardsen, CFO.

The audio webcast targets investors, analysts and media. Attendees will be able
to both post and ask questions directly in a Q&A session following the webcast.


To join the audio webcast and post questions, please go to
https://channel.royalcast.com/landingpage/hegnarmedia/20240215_17/

The webcast is also available from LINK's investor relations pages
https://linkmobility.com/investor-relations/ 


For further information, please contact

Tom Rogn, VP Investor Relations
+47 94 85 56 59
tom.rogn@linkmobility.com


About LINK Mobility 

LINK is an award-winning, leading global provider of mobile messaging and
communications platform as a service (CPaaS) solutions for increased engagement.
The company serves enterprise, SME and government customers. LINK offers a wide
range of innovative and scalable mobile solutions, creating valuable digital
convergence between businesses and customers, governments and citizens,
platforms and users. LINK has 50 thousand active customer accounts globally and
exchanges 17 billion messages a year. LINK is listed on the Oslo Stock Exchange
under the ticker LINK. For more information about LINK, please see
www.linkmobility.com and follow LINK Mobility on LinkedIn.

This information is subject to the disclosure requirements pursuant to section
5-12 of the Norwegian Securities Trading Act.