Spir Group ASA Q4 & FY 2024: Accelerated growth rate and profitability improvement

13 Feb 2025 07:00 CET

Oslo, 13 February 2025: Spir Group (“the Group”, OSE: SPIR) increased revenues
by 13 percent in Q4 2024 compared to the same quarter in 2023 to NOK 274.4
million, while EBITDA improved 47 percent to NOK 50.9 million. The growth was
driven by 23 percent growth in the real estate business area, while the public
administration grew underlying ARR by 12 percent compared to one year ago.

“We are pleased to report another quarter of accelerated revenue growth and
profitability for Spir Group. Our real estate offering performed particularly
well in the fourth quarter due to the combination of our strategic initiatives
implemented during 2024 and the real estate market having picked up again both
in Norway and Sweden. This has resulted in the enhanced financial performance in
2024,” says Per Haakon Lomsdalen, CEO of Spir Group.

Annual recurring revenue (ARR) increased by 11 percent compared to year-end 2023
to NOK 443 million at year-end 2024, including NOK 15.4 million in new ARR from
iVerdi. Spir Group delivers its offerings as recurring subscriptions,
transaction-based data & software sales, and consulting services related to
implementation and utilization of its solutions.

“Spir Group has a solid product offering within real estate and public
administration, and a high share of recurring revenue. Going forward, we will
continue providing innovative tools that digitalize our customers' operations
across our two business areas, further strengthening the Group’s market share
and profitability,” says Lomsdalen.

All Spir companies within the real estate business area grew double-digit
revenues in the fourth quarter. The public administration services, operating
through Sikri, continue to maintain a steady rate of organic growth. Sikri won
68 percent of its total public tenders during the year.

“Overall, 2024 was a positive year with strong progress across the portfolio
marked with higher growth rate in the second half of the year. KPIs are on the
rise, and looking ahead, we continue to see potential for growth and value
creation. The Spir companies hold market-leading positions and advanced
technological development capabilities. We are looking forward to an exciting
year as we have entered 2025 with solid momentum,” says Lomsdalen.

***

Investors, analysts, and media are welcome to follow a webcast presentation of
the results today at 08:00. The presentation will be held by CEO Per Haakon
Lomsdalen and CFO Cecilie Brænd Hekneby.

Webcast link:
https://channel.royalcast.com/hegnarmedia/#!/hegnarmedia/20250213_4

The report and presentation are available for download from
https://spirgroup.com/reports-and-presentations and www.newsweb.no. The webcast
will be available for replay immediately after the live stream is concluded.

For further queries, please contact:

Per Haakon Lomsdalen

Chief Executive Officer

Tel: +47 90 27 19 18

Email: per.lomsdalen@spirgroup.com



Cecilie Brænd Hekneby

Chief Financial Officer & IR

Tel: +47 99 29 38 26

Email: cecilie.hekneby@spirgroup.com



About Spir Group

Spir Group is a Nordic software house delivering mission critical software and
data within two business areas; Real estate and Public Administration. In Real
estate, Spir Group helps to streamline complex real estate processes through
specialized niche software and data. In Public Administration, Spir Group is one
of Norway’s leading software providers, delivering solutions for case
management, archiving, quality management and internal control systems to the
public sector in Norway. The Group’s customers range from municipalities,
governmental agencies, real estate agents, banks, insurance companies,
appraisers, property developers, media companies, builders, property owners,
engineers, power companies, and building materials production companies. Our
mission is to help our customers streamline their operations and drive
digitization through software, data and artificial intelligence.

More information:
Access the news on Oslo Bors NewsWeb site

638478_Spir Group Q4 2024 presentation_final.pdf
638478_Spir Group Q4 2024 report_final.pdf