(Oslo, Norway ,15 February 2024 )Arribatec Group ASA (OSE: ARR,Arribatec ) today reported revenues ofNOK 142.6 million in the fourth quarter of 2022, up 1.7% fromNOK 140.6 million in the corresponding quarter last year. EBITDA for the quarter ended atNOK 1.8 million (-9.7), an 11.5 million improvement compared to the same quarter last year. During the last quarter of the year, the company signed 459 new contracts and scope extensions for a combined value ofNOK 215 million , which isNOK 87 million (68%) above the fourth quarter of 2022. "We are pleased to report another quarter with growth in revenue, in particular since the growth is all organic. Additionally, we improved the quarterly EBITDA byNOK 11.5 million . With new sales ofNOK 215 million in Q4, we see that the market responds well to our offering, so we are on the right track and remain optimistic looking forward," saysGeir Johansen , CEO ofArribatec .Arribatec reported revenues ofNOK 142.6 million (140.6) in the fourth quarter of 2023 and an EBITDA ofNOK 1.8 million (-9.7). The reported EBIT ended at a negativeNOK 9.4 million (-26.3), with recognized recurring revenues ofNOK 55.0 million (49.8). The company hadNOK 39.4 million (40.4) in cash at the end of the fourth quarter 2023. For the full year 2023, the company reported a revenue ofNOK 573.0 million (505.0), a 13.5% growth compared to 2022. EBITDA for the year ended atNOK 24.5 million (-34.1), an improvement ogNOK 58.6 million . The 2023 EBIT ended at a negativeNOK 23.8 million (-90.3), with recognized recurring revenues ofNOK 214.2 million (184.5). The Board of Directors' financial report for the fourth quarter of 2023 is enclosed. *EBITDA and other alternative performance measures (APMs) are defined and reconciled to the IFRS financial statements as a part of the APM section of the 2023 fourth-quarter report on page 33.Arribatec Group ASA will host a web presentation of the second quarter financial results 2023 on Thursday,15 February 2023 , at09:00 CET . The presentation will be streamed live at https://www.arribatec.com/arribatec-q4-2023/ ENDS For additional information, please contact:Geir Johansen , CEO,Arribatec Group ASA : +47 4771 0451 Martin Nes, Chairman of the Board,Arribatec Group ASA : +47 920 14 814 AboutArribatec | www.arribatec.comArribatec is a software and consulting company headquartered inOslo . With a customer-centric engagement model combined with a deep system, integration, and domain competence,Arribatec builds long-term strategic partnerships with a broad customer base.Arribatec serves more than 1700 companies spread over 25 countries and various industries in the private and public sectors. The company employs over 400 people with offices in 11 countries and is listed on theOslo Stock Exchange under the ticker code ARR.
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