SmartCraft ASA (SMCRT) - Annual Report 2024

10 Apr 2025 07:00 CEST

10 April 2025 - SmartCraft ASA, the leading Nordic provider of mission-critical
SaaS solutions to small and mid-sized companies in the construction sector,
today published its Annual- and ESG reports for 2024. The reports are enclosed,
together with the company's annual financial statements in European Single
Electronic Format (ESEF). The documents are also available on the Company's
website.

"In 2024 we continued to build on our track record of steady, high growth,
strong profitability and excellent cash flow. We ended the year with annual
recurring revenue (ARR) of NOK 482 million, 25 percent higher than one year
earlier. Organic growth was 8 percent, driven by a combination of organic
factors and acquisitions," said CEO of SmartCraft Gustav Line.

SmartCraft's revenues ended at NOK 482 million, while the adjusted EBITDA-capex
was NOK 141 million in 2024, representing a margin of 28 percent.

"The construction industry is still one of the least digitalized industries.
Many companies still use pen and paper or simple spreadsheets instead of
specialized systems, so the outlook for massive future growth both from new and
existing customers is very much intact. 2024 was a year of significant progress
for SmartCraft, and we made two important acquisitions, Locka in Sweden and
Clixifix in the UK. The acquisition in the UK implies a significant increase in
TAM for SmartCraft," said Gustav Line.

SmartCraft's main customer segment, small and medium sized enterprises primarily
focusing on maintenance, which is less macro sensitive than new construction
segment. Nevertheless, SmartCraft's growth is hampered by the weak macro
conditions.

"SmartCraft targets 15-20 percent medium term organic growth with the addition
of bolt on acquisitions. In 2024 our growth rate was lower, as the construction
industry is facing the most challenging conditions in decades. However, we see
that new sales continues to work well. This means that we are confident in our
medium-term outlook. When macro eventually improves, we expect customer churn to
decrease, customers to start upscaling their use of our tools, and organic
growth to return to our target range a higher level, with increasing EBITDA
margins due to scalability of the business," said Gustav Line.

SmartCraft today published its first standalone ESG report.

"By providing digital tools that simplify everyday tasks for thousands of
construction companies, we contribute to building a safer, more sustainable, and
more productive industry," said Gustav Line.

DISCLOSURE REGULATION

This information is considered to be inside information pursuant to the
EU Market Abuse Regulation, and is subject to the disclosure requirements
pursuant to section 5-12 of the Norwegian Securities Trading Act.

CONTACTS

 * Gustav Line, CEO, +47 952 67 104, gustav.line@smartcraft.com

 * Kjartan Bø, CFO, +47 410 27 000, kjartan.bo@smartcraft.com

ABOUT SMARTCRAFT ASA

SmartCraft is the leading Nordic provider of mission-critical SaaS solutions to
SMEs in the construction sector, increasing their productivity, margins, and
resource efficiency. The Group currently has more than 13 400 customers and 270
employees distributed across Norway, Sweden, Finland and UK. SmartCraft was
listed on the Oslo Stock Exchange in June 2021.

More information:
Access the news on Oslo Bors NewsWeb site

643364_SmartCraft_ASA_ESG_report_2024.pdf
643364_SmartCraft_ASA_Annual_report_2024.pdf
643364_smartcraftasa_2024_12_31_0_en.zip