Q3 2020 highlights:

* 75% year-on-year ARR growth to NOK 338 million at the end of the quarter
* 66% year-on-year revenue growth to NOK 77.8 million
* Adjusted EBITDA-margin of 19%
* Acquired the post-award company Comcare in Denmark
* Successful listing on Merkur Markets 

Oslo, 12 November 2020: Mercell Holding (Mercell, MRCEL:ME) delivered revenue
growth of NOK 66% year-on-year to NOK 77.8 million in the third quarter and 90%
to NOK 203.2 million in the first nine months 2020. Year-on-year organic revenue
growth was 35% in the quarter. Annual Recurring Revenue (ARR) increased by 75%
year-on-year to NOK 338 million at the end of September, with 36% organic
growth.  

-We are combining strong organic sales and strategic acquisitions to drive
growth and strengthen our product offering in the eTendering and eProcurement
markets. We will continue to build on our leading market position in the core
Nordic market as we prepare for expansion into the larger and more fragmented
European market, says CEO Terje Wibe in Mercell.

EBITDA was NOK 2.3 million including NOK 12.3 million in special cost items in
the third quarter (3.0). Adjusted EBITDA - excluding the special costs items -
amounted to NOK 14.6 million (5.5), with the adjusted EBITDA-margin increasing
to 19% from 12% in the same quarter last year. For the first nine months,
reported EBITDA increased to NOK 17.3 million (8.5), whereas adjusted EBITDA
increased to NOK 39.0 million (14.0). The adjusted EBITDA-margin improved to 19%
from 13% in the first nine months last year. 

Proforma revenue, including the acquisitions the company have completed this
year, amounted to NOK 241.1 million for the first nine months, with an adjusted
EBITDA of NOK 38.1 million and an adjusted EBITDA-margin of 16%. 
   
Mercell has set a long-term ambition for an ARR of NOK 650 million in 2025, with
acquisitions adding further upside potential, and believe that increased scale,
improving efficiency and high operational leverage will allow for long-term
EBITDA-margins of 40%.   

Webcast:

CEO Terje Wibe and CFO Fredrik Eeg will host a presentation and Q&A session
today at 08:30 CEST. Please use the following link to access the presentation:
https://streams.eventcdn.net/mercell/2020q3.

Questions may be asked in writing during and after the presentation in the
questionnaire below the webcast window.  The report, presentation and above
webcast link are also available at:
https://investor.mercell.com/investors/default.aspx.
  
For further information please contact: 

CEO Terje Wibe 
Cell: +47 90 83 79 98 
Email: terje.wibe@mercell.com 

CFO Fredrik Eeg 
Cell: +47 90 83 33 78 
Email: Fredrik.eeg@mercell.com

This is Mercell: 

Mercell is a leading digital platform for public eTendering and has recently
entered the eProcurement market. The company has approximately 1,000 pre-award
buyers, more than 330 post-award buyers and close to 16,000 suppliers as
customers. Mercell's unique marketplace simplifies the tender and procurement
process and makes it safe and easy for buyers to find relevant suppliers for
their tenders and daily purchasing needs. Mercell also ensures suppliers find
relevant business opportunities as well as tools for the suppliers to digitally
receive and handle purchases from public and private buyers. Mercell delivers
services to public and private buyers in 13 European countries and our aim is to
become the leading software-as-a-service (SaaS)-platform for eTendering and
eProcurement in Europe.

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