StrongPoint ASA: Fourth Quarter and Year 2024
(Oslo, 13 February 2025) StrongPoint ASA reported revenues of NOK 340 million in the fourth quarter of 2024, NOK 9 million higher than same quarter in 2023 (331). The EBITDA increased by NOK 26 million to NOK 5 million (-21).
“Although 2024 has been a financially challenging year, I am pleased to observe an improvement in the second half of the year, including the fourth quarter. Revenue in the fourth quarter 2024 increased by 3%, which is a result of solid growth in Scandinavia, whilst sales in Spain have been challenging and the Shop Fitting market in the UK has continued to be difficult. However, we are building a more solid and sustainable revenue base where recurring revenue on a twelve-month rolling basis is up 15% for the year,” says Jacob Tveraabak, Chief Executive Officer of StrongPoint.
StrongPoint reported revenues of NOK 340 million (331) in the fourth quarter of 2024 and an EBITDA of 5 million (-21). The fourth quarter EBIT was NOK -5 million and EBT was NOK -8 million. The net profit after tax ended at NOK -2 million in the quarter. Cash flow from operating activities was NOK 77 million.
“We are building customer intimacy in our core markets. We are gaining this customer intimacy based on our passion for grocery retail and our dedication to making technology solutions work. On average our top customers in Scandinavia and the Baltics have between 4 and 5 solutions from StrongPoint. This allows for operational efficiencies and as such, continued solid financial performance in these markets. Building that same level and depth of customer relationship in the much larger UK market is a priority for us. With the Order Picking win at Sainsbury’s, multiple proof of concepts (POC) of our theft prevention solution, Vensafe, POC for Grocery Lockers and a growing team of top professionals in the UK on the back of an established shopfitting business for grocery retailers, I believe we have all the reasons to be optimistic about achieving similar levels of customer intimacy in the UK as well,” Tveraabak continues.
“While general market uncertainties persist today, we are encouraged by the positive trends in our results, the sustained interest in our diverse solution portfolio and our continued trust by customers, making us positive about thriving in the medium and longer term,” Tveraabak concludes.
StrongPoint will host an in-person and streamed presentation of the fourth quarter results at 07:00 CET followed by a Q&A session at 11:00 CET 13 February 2025. Questions can be submitted online during the Q&A or via email at: investor@strongpoint.com.
The webcast is available at strongpoint.com and can also be accessed by the following links:
Q4 Presentation: https://channel.royalcast.com/landingpage/hegnarmedia/20250213_1/
Live Audiocast: https://channel.royalcast.com/landingpage/hegnarmedia/20250213_14/
Disclosure regulation
This information is subject to the disclosure requirements pursuant to Section 5-12 the Norwegian Securities Trading Act.
Contacts
- Marius Drefvelin, CFO StrongPoint ASA, +47 958 95 690, marius.drefvelin@strongpoint.com
About StrongPoint
StrongPoint is a grocery retail technology company that provides solutions to make shops smarter, shopping experiences better, and online grocery shopping more efficient. With approximately 500 employees in Norway, Sweden, the Baltics, Finland, Spain, the UK and Ireland, and together with a wide partner network, StrongPoint supports grocery and retail businesses in more than 20 countries.
StrongPoint provides end-to-end e-commerce solutions, including in-store order picking, automated fulfillment (with AutoStore), click & collect temperature-controlled grocery lockers, and in-store and drive-thru grocery pickup solutions. The company also delivers a range of in-store technologies, such as electronic shelf labels, AI-powered self-checkouts, and cash management and payment solutions. StrongPoint is headquartered in Norway and is listed on the Oslo Stock Exchange with a revenue of approximately NOK 1.3 billion [ticker: STRO].