Otovo Q4 Results: New markets launched - European platform established

25 Jan 2023 06:00 CET

Otovo’s fourth quarter results are released today.


Highlights
- NOKm 205 Total Revenues (IFRS) versus 99 same quarter last year, up 2.1x
- 2,205 installations versus 1,209 same quarter last year, up 82%
- 1,826 sales versus 2,066 same quarter last year, down 12%. Pipeline wait times
down 1 month, pipeline of 4,654 projects.
- NOKm 282 Revenue Generated versus NOKm 109 same quarter last year, up 2.6x
- NOKm 56 Gross Profit Generated versus NOKm 22 same quarter last year, up 2.6x

New markets launched
- Sales closed in Netherlands, Belgium and Switzerland, marking the end of
Otovo’s 6-country launch in 2022 on time and on budget. Now sales are coming
from 13 European countries.

Strong outlook
- Reiterating guiding on at least doubling revenues generated for 1H 23
- Expecting six countries profitable in first half of this year


Please find attached the quarterly report. The presentation will be held by
Andreas Thorsheim (CEO) and Petter Ulset (CFO) on webcast at 09:00 January 25th.
Access to the webcast through the following link:
https://my.demio.com/ref/Thzp3AlxvNFxPnZJ

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Disclosure Regulation

This information is subject to the disclosure requirements pursuant to section
5-12 of the Norwegian Securities Trading Act.

Metrics used in this notice are defined in the attached financial report.

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About Otovo: For homeowners, Otovo is the easiest way to get solar panels on the
roof, and batteries in the home. Otovo is a marketplace that organizes hundreds
of local, high quality and qualified energy installers. The company uses its
proprietary technology to analyze the potential of any home and finds the best
price and installer for customers based on an automatic bidding process between
available installers.

Follow us on investor.otovo.com for reports, financial calendar, contact details
and more.

More information:
Access the news on Oslo Bors NewsWeb site

580668_Otovo - Q4 2022 Report.pdf