Oslo, 15 February 2024: Spir Group ASA increased revenues by 3 percent in the
fourth quarter of 2023 compared to the same quarter in 2022 to NOK 241.4
million, primarily driven by organic growth for the company's mission critical
software for public sector.

Adjusted EBITDA was NOK 38.8 million (43.4) in the fourth quarter 2023,
representing a 16 percent adjusted EBITDA margin. Reported EBITDA ended at NOK
33.8 million (35.3), implying an EBITDA margin of 14 percent.

"Spir Group has market-leading positions in Norway and Sweden within mission
critical public sector solutions and real estate data & geo information, and we
continue to deliver steady results despite market headwind in 2023. Meanwhile,
we have developed to become a more pure-play Software-as-a-Service company
during the year. At the end of 2023, our annual recurring revenue (ARR) reached
398 million, up 7 percent compared to the end of 2022, and our recurring and
recurring-like revenue now accounts for 81 percent of our total revenues. This
means that our business has a high degree of scalability and high
predictability," said Per Haakon Lomsdalen, CEO of Spir Group.

On a full-year basis, Spir Group grew revenues by 14 percent in 2023 compared to
the year before, reaching NOK 1,056.7 million. The main contributor to the
year-over-year growth was Sikri AS, growing revenues by 14 percent in 2023, as
well as the acquisition of Metria. Sikri's growth was driven by a steady high
win rate in public tenders, a higher level of consulting revenues, as well as
increasing ARR. 

"Sikri has seen significant customer wins during the year, with The Norwegian
Correctional Service ("Kriminalomsorgen") and The Norwegian Railway Directorate
("Jernbanedirektoratet") being the two latest and biggest wins during the fourth
quarter. Sikri continues to be successful in public tenders and won 60 percent
of the public tenders where the company submitted offers during 2023," said
Lomsdalen.

Within real estate information, Ambita's revenues grew 2 percent in full-year
2023 compared to 2022, somewhat hampered by a challenging real estate market in
Norway, but with increasing margins. Metria increased revenues by 1 percent in
2023, while Boligmappa continue its development and is implementing new revenue
models, growing revenues by 16 percent in 2023. 

Spir Group's EBITDA improved from NOK 127.2 million in 2022 to NOK 169.4 million
in 2023, and the company generated NOK 201.7 million of operating cash flow in
2023. Meanwhile, net interest-bearing debt declined from NOK 756.0 million to
NOK 650.9 million.

"The fact that our financial debt is reduced during 2023 grants us greater
strategic and operational headroom going forward. We are in an improved
financial position compared to a year ago, and with our operationally and
financially steps during 2023, we are ready to execute on our ambitions for
2024," said Lomsdalen.

***

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 Cecilie Brænd Hekneby. 

Webcast link:
https://channel.royalcast.com/hegnarmedia/#!/hegnarmedia/20240215_4 

The report and presentation are available for download from
https://spirgroup.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@spirgroup.com

Cecilie Brænd Hekneby
Chief Financial Officer
Tel: +47 99 29 38 26
Email: cecilie.hekneby@spirgroup.com

About Spir Group
Spir 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.