Oslo, 9 November 2023. Sikri Group ASA increased revenues by 9 percent in the
third quarter of 2023 compared to the same quarter last year to NOK 264 million,
primarily driven by a strong quarter for the company's mission critical software
for public sector in the Sikri AS segment.

Adjusted EBITDA was NOK 52 million in the third quarter 2023, representing a 20
percent adjusted EBITDA margin. Reported EBITDA ended at NOK 48 million,
implying an EBITDA margin of 18.3%, up from 16.5% in the third quarter of 2022.
The margin improvement is mainly due to growth in Sikri AS, and an improved
revenue mix for real estate data provider Ambita, in addition to overall cost
efficiency in the Group.

"In the third quarter, Sikri Group performed very well with solid growth across
most of the business and overall profit improvement. We have market-leading
positions in Norway and Sweden within mission critical public sector software
and real estate data & geo information.  These are two attractive areas with
significant ongoing digitalization efforts, implying that we have a great
potential for consistent growth and margin improvement going forward," said Per
Haakon Lomsdalen, who started in the position as CEO of Sikri Group in Q3 2023.

The main contributor to the overall growth was Sikri AS, which delivers mission
critical software for the public sector. Sikri AS grew revenues by 32 percent.
This growth was driven by the steady, high win rate in public tenders,
increasing ARR, a higher level of consulting revenues, and revenues related to
the Norwegian municipal elections in September. 

"Sikri AS, operating within mission critical public sector software in Norway,
performed particularly well with significant customer wins and good cost control
resulting in 30 percent reported EBITDA margin. A challenging real estate market
hampers the growth rates of Ambita and Metria, but with this backdrop, both
companies perform satisfactorily with flat to slightly growing revenues.

In Sweden, Metria delivered a flat quarter in terms of revenue compared to the
same period last year despite a continued weak real estate market in Sweden.
Sikri Group continues the transformation of Metria after the divestment of the
Planning and Surveying business area in Sweden to Sweco in Q2 2023. Metria's
primary focus going forward is to improve margins. 

"Most of our business is now based on Software-as-a-Service model, with 83
percent of our revenue regarded as recurring or recurring-like. ARR increased by
7 percent year-over-year to NOK 385 million at quarter end, and we seek to
establish a top-notch sales culture and organization to continue to grow going
forward," said Lomsdalen.

Financial highlights for Q3 2023 (Y/Y change):
o Revenue MNOK 264, up 9 percent 
o Adjusted EBITDA MNOK 52 up from MNOK 48 
o Reported EBITDA NOK 48, up from NOK 40 
o Annual recurring revenue (ARR) up 7 percent to MNOK 385 

***

Investors, analysts, and media are welcome to follow a webcast presentation of
the results today at 08:00. The presentation will be held by CEO Per Haakon
Lomsdalen and CFO Camilla Aardal. 

The presentation will be followed by a Q&A session, and viewers are encouraged
to submit written questions during and after the presentation through the
webcast player.

Webcast link:
https://channel.royalcast.com/hegnarmedia/#!/hegnarmedia/20231109_8

The report and presentation are available for download from
https://sikrigroup.com/reports-and-presentations and www.newsweb.no. 

The webcast will be available for replay immediately after the live stream is
concluded.

For further queries, please contact:

Per Haakon Lomsdalen
Chief Executive Officer
Tel: +47 90 27 19 18
Email: Per.Lomsdalen@sikri.no

Camilla Aardal
Chief Financial Officer
Tel: +47 97 10 51 55
Email: Camilla.Aardal@sikri.no

About Sikri Group ASA
Sikri Group is a software house providing highly specialized software and
services towards the public sector and a leading company within property data,
property technology and data economics in the Nordics. Our customer base spans
public sector as well as private businesses within real estate, banking,
insurance, property developers, media companies, builders, property owners,
taxation companies, engineers, power companies and building materials
production. We create value for public sector, private businesses, and citizens,
with an innovative approach to the use of data and data analysis. Our ambition
is to build the leading Nordic ecosystem for public administration, property
technology, analysis and data.