Arribatec Group ASA – Fourth quarter 2024 financial results

28 Feb 2025 07:30 CET

(Oslo, Norway, 28 February 2025) Arribatec Group ASA (OSE: ARR, Arribatec) today
reports revenues of NOK 150.5 million (143) in the fourth quarter of 2024, up
5.3% compared to the corresponding quarter last year, and an adjusted EBITDA of
NOK 2.1 million (1.8). EBITDA for the second quarter came in at negative NOK
11.7 million (1.8), which includes non-cash one-time costs of NOK 13.8 million.
Adjusted EBITDA was NOK 2.1 million (1.8). The company signed 610 new contracts
and scope extensions for a combined value of NOK 285 million in the period, 33%
higher compared to the same quarter in 2023.

“We are encouraged to see growth for the quarter, and Cloud and ERP activities
are fueling the growth. We went through a comprehensive organizational and
financial restructuring during the quarter, but despite this, our employees
managed to stay focused and deliver value to our customers,” says Geir Johansen,
CEO of Arribatec.

Arribatec reported revenues of NOK 150.5 million (148.2) in the fourth quarter
of 2024, and the adjusted EBITDA was 2.1 million (8.4). EBITDA was negative NOK
11.7 million (1.8), which includes a restructuring cost of NOK 10.1 million. The
reported EBIT ended at a negative NOK 47.8 million (-9.4). The company had NOK
23.1 million (39.4) in cash at the end of the fourth quarter of 2024.

For the full year of 2024, the company reported a revenue of NOK 574.7 million
(573.0). EBITDA for the year ended at negative NOK 15.2 million (24.5). The 2024
EBIT ended at a negative NOK 85.2 million (-23.8), with recognized recurring
revenues of NOK 251.3 million (214.2).

The Board of Directors’ financial report for the fourth quarter of 2024 is
enclosed.


Arribatec Group ASA will host a web presentation of the fourth quarter financial
results 2024 on Friday 28 February 2024 09:00 CET. The presentation will be
streamed at

https://www.arribatec.com/arribatec-q4-2024/

*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
2024 fourth quarter report on page 33.

ENDS

 
Geir Johansen, CEO, Arribatec Group ASA: +47 4771 0451
Håkon Fure, Chairman of the Board, Arribatec Group ASA: +47 408 89 018

About Arribatec | www.arribatec.com
Arribatec is a software and consulting company headquartered in Oslo. 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 320 people with offices in 11 countries and is listed on the Oslo
Stock Exchange under the ticker code ARR.

More information:
Access the news on Oslo Bors NewsWeb site

640077_Arribatec Q4 2024 report publisert.pdf