Q1 2026 Strongpoint ASA Earnings Call Transcript
Key Points
- StrongPoint ASA (FRA:PGT) maintained stable revenue at NOK 342 million in Q1, despite global uncertainties.
- The company experienced a 17% growth in international operations, with the UK showing a remarkable 93% year-on-year growth.
- Recurring revenue increased by 3% year-on-year, driven by growth in service agreements related to CashGuard, Vensafe, and Self-Checkout.
- StrongPoint's proprietary order picking solution is gaining traction with esteemed grocery retailers, including Iceland Foods and Sainsbury's.
- The company is expanding its presence beyond its nine core markets, serving grocery retailers in over 20 countries.
- Cash flow from operations was negative at minus NOK 9 million, compared to plus NOK 8 million last year, due to changes in working capital.
- Revenue declines were observed in the Baltics (35% decline) and the Nordics (21% decline), offsetting growth in the UK.
- The rollout of the order picking solution with Sainsbury's is taking longer than anticipated, requiring additional work from both parties.
- The development of the CashGuard Connect solution has been delayed due to bankruptcy proceedings of a local partner, Hart Automation.
- Net interest-bearing debt increased from NOK 61 million to NOK 91 million during the first quarter, reflecting cash flow challenges.
Good morning and welcome to this Q1 presentation by StrongPoint.
My name is Jacob Tveraabak and I'm the CEO of StrongPoint. With me to present the Q1 results today, I have Marius Drefvelin, our group CFO.
In today's session. I will share highlights from the first quarter. I will provide a short overview of StrongPoint, in particular for the convenience of those less familiar with us. And I will then move on to explain some of our exciting customer success stories from this quarter. Then handing over to Marius for his review of our financials for Q1. And then I'll come back in again, rounding off this session with our review for StrongPoint going forward.
So, highlights, we had a flat first quarter compared to same quarter last year.
Revenue was NOK 342 million in this quarter. Recurring revenue. In the quarter grew by 3% on a 12-month rolling basis. And EBITDA reported in Q1 was NOK 10 million, which is the same as Q1 last year.
Cash flow from operations was minus 9 million this quarter versus plus
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