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    CYVIZ   NO0010015175

CYVIZ AS

(CYVIZ)
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Cyviz AS - Q2 2021: Strong growth with record high booking and revenue numbers

08/31/2021 | 02:01am EDT
31.8.2021 08:00:01 CEST | Cyviz | Half yearly financial reports and audit
reports / limited reviews

Cyviz AS, a global technology provider for standardized conference rooms,
control rooms and experience centers, today published its financial results for
the second quarter 2021. Q2 2021 was the best-ever quarter in the company's
history, with record high revenues at NOK 102 million, representing a year over
year organic growth of 113%. Order intake in the quarter increased 182% from Q2
2020 reaching an all-time high at NOK 108 million.

The need for functional collaboration solutions to bridge geographies and allow
for immersive in-room experiences increases, and is driving demand for Cyviz
collaboration solutions. 

- The second quarter of 2021 is historical, with record high revenues and order
intake and positive EBITDA sustaining the growth trajectory. It demonstrates
that the results for Q1 were the start of a journey that continues in Q2 and
gives headway to our long-term targets, says Espen Gylvik, CEO of Cyviz.

- Cyviz has added several significant accounts to its portfolio over the years
and continues to attract global leaders with its outstanding technology platform
and services. The benefits for large multinationals standardizing on the Cyviz
Easy Software Platform are many, bringing efficiency gains and outstanding user
experiences to collaboration rooms and operations centers, says Gylvik



MICROSOFT SUCCESS CONTINUES IN Q2 

- Microsoft is one standout example and has become an important account. In Q2
2021 12 projects have been delivered across multiple regions, more orders are
anticipated regularly in the coming quarters, and the deliveries are tracking
against the plan. The solutions for Microsoft Technology Centers worldwide are
visual collaboration solutions built on the Cyviz Easy Software Platform and
serves to power Microsoft's most important customer and partner engagement
arenas, says Gylvik.

- The recruitment efforts continue, and since the beginning of the year, 27 new
employees have started by the end of Q2 including 11 new salespeople across the
US, Europe and Asia. Total global headcount has now reached 131. The pace of
hiring is faster than expected driven by growth in demand for our solutions and
is a good indication that Cyviz is an attractive place to work, says Gylvik.



HIGHLIGHTS Q2 2021 

 * ? 182% year-on-year growth in order intake to NOK 108 million 
 * ? 113% year-on-year increase in revenue to NOK 102 million 
 * ? EBITDA of NOK 7.4 million, evidencing scalability of the business model 
 * ? Microsoft orders of NOK 65 million and delivering against plan 
 * ? Backlog increased to NOK 119 million from NOK 114 million at the end of Q1
   2021 



The interim financial report and presentation for Q2 2021 are enclosed. 

Cyviz AS is presenting its Q2 2021 financial results on Tuesday 31. august 2021
at 14:00 (CET) and hereby invites investors, analysts and other stakeholders to
a webcast with Q&A. The webcast will be moderated by Carnegie analyst Kristian
Støle. If you want Kristian Støle to ask your questions to the management, these
can be sent to info@xtrainvestor.com or during the webcast.

Link to the webcast: 
https://inqrate.com/xtravideos/cyviz-presentation-with-qa-august-31-2021/ 

The report, presentation, and a link to the recorded webcast will be made
available at https://www.cyviz.com/investor-relations/ 

DISCLOSURE REGULATION

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

CONTACTS

 * Erik Fausa Olsen, CFO & Investor Relations, Cyviz AS, +4790738944,
   erik.fausa.olsen@cyviz.com 
 * Espen Gylvik, CEO, Cyviz AS, +4791330644, espen.gylvik@cyviz.com 

ABOUT CYVIZ

Cyviz is a global technology provider for standardized conference rooms, control
rooms and experience centers. Since 1998, Cyviz has empowered the digital
workforce to connect, visualize, and collaborate on their critical data. The
IT-driven turnkey solutions are easy to deploy, manage and support. Cyviz serves
global enterprises and governments with the highest requirements for usability,
security and quality, that engage people, encourage collaboration, and
accelerate decision-making.

cyviz.com - https://www.cyviz.com

ATTACHMENTS

Cyviz Q2 2021 Presentation.pdf -
https://kommunikasjon.ntb.no/ir-files/17847582/800/1059/Cyviz%20Q2%202021%20Pres
entation.pdf

Cyviz Q2 2021 Report.pdf -
https://kommunikasjon.ntb.no/ir-files/17847582/800/1061/Cyviz%20Q2%202021%20Repo
rt.pdf

Click here for more information

© Oslo Bors ASA, source Oslo Stock Exchange

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Financials
Sales 2021 319 M 37,9 M 37,9 M
Net income 2021 -24,7 M -2,94 M -2,94 M
Net cash 2021 34,5 M 4,10 M 4,10 M
P/E ratio 2021 -25,8x
Yield 2021 -
Capitalization 648 M 77,0 M 76,9 M
EV / Sales 2021 1,92x
EV / Sales 2022 1,64x
Nbr of Employees -
Free-Float 66,1%
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Number of Analysts 1
Last Close Price 50,30 NOK
Average target price 65,00 NOK
Spread / Average Target 29,2%
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Managers and Directors
Espen Kristian Gylvik Chief Executive Officer
Rune Syversen Chairman
Trish Espedal Senior Vice President-Operations
Thomas S Wrede-Holm Director
Patrick Hegge Kartevoll Director
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