SmartCraft ASA (SMCRT) – First half-year and second quarter 2021 financial results

24.8.2021 07:00:00 CEST | SmartCraft ASA | Half yearly financial reports and
audit reports / limited reviews

24 August 2021 - SmartCraft ASA today reported its results for the first
half-year and second quarter 2021, showing revenue of NOK 63.9 million in the
second quarter, a growth of 36 percent compared to the same quarter in 2020.
Currency adjusted organic growth was 18 percent. The adjusted EBITDA increased
43 percent, and the adjusted EBITDA margin was 47 percent, compared to 45
percent in Q2 2020. Reported EBITDA margin was 10 percent, negatively affected
by special items related to the and IPO on Oslo Børs in June.

At the end of Q2 SmartCraft had annual recurring revenue (ARR) of NOK 216
million, 29 percent higher than in Q2 2020. 94 percent of SmartCraft's revenue
in Q2 2021 was recurring, an unchanged ratio since Q2 2020. Average revenue per
customer grew from NOK 22,446 to NOK 27,101.

"We concluded our first quarter as a listed company on Oslo Børs continuing our
history of strong growth and high profitability. The organic growth of 18
percent and strong EBITDA margin confirm the value proposition for our customers
and the strength of our SaaS based business model. We are on the right track
when it comes to delivering on our strategy and target to grow organic revenue
with 15-20 per year in the medium term. In addition, we continue to deliver on
our strategic ambition to grow our business by acquiring SaaS companies that
complement our existing portfolio," CEO of SmartCraft Gustav Line said.

"The capital raise and listing on Oslo Børs provided us with a strong
shareholder base and a solid financial platform for growth. In the second
half-year we will focus particularly on integrating and leveraging the two
recently acquired companies, HomeRun and Kvalitetskontroll, reaping synergies on
sales, product and technology across the group," Gustav Line continued.

As the leading Nordic provider of mission-critical SaaS solutions to small and
mid-sized companies in the construction sector, SmartCraft operates in a NOK
10.5 billion software market in the Nordics, a market growing at double-digit
rate. The construction industry is among the least digitalized industries, and
SmartCraft's solutions help customers to increase their productivity, margins,
and resource efficiency.

"With our strong profitability, healthy balance sheet and solid market position,
we are perfectly positioned to play a vital role in the digitization of the
construction industry in the years to come, Gustav Line concludes.

 

WEBCAST PRESENTATION

Investors, analysts and journalists are welcome to join to an English language
webcast presentation of the report today, Tuesday 24 August 2021, at 08:00 CEST.


Webcast link: 
https://channel.royalcast.com/hegnarmedia/#!/hegnarmedia/20210824_5 

Webcast link: 
https://smartcraftready.com/investor-relations/presentation-of-second-quarter-an
d-first-half-year-results-2021/

Presenters: CEO Gustav Line and CFO Kjartan Bø

Viewers are welcome to submit written questions through the webcast player
during and after the presentation.

A recording of the presentation will be available on the same link and at 
https://smartcraftready.com/investor-relations/ after the live stream is
concluded.

DISCLOSURE REGULATION

This information is considered to be inside information pursuant to the EU
Market Abuse Regulation, and is subject to the disclosure requirements pursuant
to section 5-12 of the Norwegian Securities Trading Act.

The stock exchange announcement was published by the contact person, at the date
and time as set out above.

CONTACTS

 * Gustav Line, CEO, +47 952 67 104, gustav.line@smartcraft.no 
 * Kjartan Bø, CFO, +47 410 27 000, kjartan.bo@smartcraft.no 

ABOUT SMARTCRAFT ASA

SmartCraft is the leading Nordic provider of mission-critical SaaS solutions to
SME's in the construction sector. The company's business model is highly
scalable, based on 94% recurring revenue and low churn. The construction sector
is among the least digitalized industries and represents a NOK 10bn software
market in the Nordics, growing at a double-digit rate. SmartCraft's solutions
help customers to increase their productivity, margins, and resource efficiency.

ATTACHMENTS

SmartCraft ASA Q2 2021 report.pdf -
https://kommunikasjon.ntb.no/ir-files/17847761/792/1025/SmartCraft%20ASA%20Q2%20
2021%20report.pdf

SmartCraft ASA Q2 2021 presentation.pdf -
https://kommunikasjon.ntb.no/ir-files/17847761/792/1026/SmartCraft%20ASA%20Q2%20
2021%20presentation.pdf

en_SmartCraft ASA Q2 2021 report

en_SmartCraft ASA Q2 2021 presentation