Kurs & Likviditet
Beskrivning
| Land | Norge |
|---|---|
| Lista | OB Match |
| Sektor | Informationsteknik |
| Industri | Programvara |
2023-08-18 07:00:17
Highlights from the second quarter:
Profitability improving, third consecutive quarter with positive EBITA adj. of
NOK 2.3 million
· 7% net gross profit growth y/y to NOK 95 million in a declining HW market
· Net gross profit margin up from 28% to 33% y/y due to growth in higher
margin software business and Advisory & Services business
· 11% y/y decline in operating costs and personnel expenses
Increasing recurring revenue base with 15% growth y/y and 3% growth sequentially
· Recurring revenue annualised continues to grow, reaching NOK 318 million, up
from NOK 276 million in Q2 last year
· ARR from Own Software at NOK 110 million, growing by 15% y/y
Positive commercial momentum, growing interest for Advisory & Services and Own
Software
· Signed a frame agreement with Oslo Municipality worth NOK 480 million, a
potential doubling of previous contract value
· Increased sales activity towards the end of the quarter, with financial
effect from H2 2023
Subsequent events
Refinancing secures increased financial flexibility
· Signed term sheet with a new bank relation for the refinancing of the
company's term loans and credit facilities
· Converted all remaining sellers' credits to shares
"The ongoing transformation is starting to yield results. Profitability is
improving, with growth in net gross profit and positive EBITA adj. for the third
consecutive quarter. We see a positive commercial development and growth in
recurring revenue. We expect the increased sales activity to materialise from
the second half this year," says CEO Børge Astrup.
Material
Please find the report and presentation for Q2 2023 enclosed.
Presentation and Q&A:
CEO Børge Astrup and CFO Ellen Solum presents the results in a pre-recorded
webcast, can be accessed by clicking here (https://youtu.be/sqSrz14C08Q)
A live Q&A session will take place today at 8:00 am CEST and can be accessed by
clicking here (https://teams.microsoft.com/l/meetup
-join/19%3ameeting_ZTlhYjNiNWEtNDI4Yy00MTdlLWIyYjktYjg1M2I4NWE0YWUy%40thread.v2/
0
?context=%7B%22Tid%22%3A%2256b3dd67-66b5-4d6a-9954
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-115dc59416a5%22%2C%22IsBroadcastMeeting%22%3Atrue%2C%22role%22%3A%22a%22%7D&bty
p
e=a&role=a)
Questions for the Q&A session may be submitted in advance to ir@techstep.no, or
live during the session itself. A recording of the Q&A-session will be made
available on techstep.io after the live event has concluded.
For more information:
Børge Astrup, CEO, Techstep ASA: +47 928 27 676
Ellen Solum, CFO, Techstep ASA: +47 976 66 717
About Techstep ASA
Techstep is a complete mobile technology enabler, making positive changes to the
world of work