16.11.2021 07:00:00 CET | EcoOnline | Half yearly financial reports and audit
reports / limited reviews

Oslo, 16 November 2021 EcoOnline Holding AS ("EcoOnline" or "the Company")
continues its growth journey and is reporting annual recurring revenues (ARR) at
the end of Q3 2021 of NOK 408 million, with a year-over-year (YoY) growth of 35%
and a LTM Q3 2021 revenue growth of 51% with a proforma revenue of NOK 427.

EcoOnline, the leading European EHSQ SaaS provider of digital solutions for
creating safer and more sustainable workplaces, is reporting good financial
performance as well as strong operational developments, successful investments,
and a solid financial platform: 

 * NOK 408 million in ARR at the end of Q3 2021, up 35% YoY (24% organic growth)

 * Strong revenue growth of 51% YoY, with LTM Q3 2021 revenue of NOK 401 million
   and proforma revenue of NOK 427 million 
 * Positive LTM Q3 2021 adjusted EBITDA of NOK 3 million 
 * 371 new customers in Q3 2021, 151 attracted organically and 220 through
   acquisitions 
 * Use of EcoOnline's products for reporting to meet UN's SDGs
 * Two acquisitions closed in July 2021, followed by successful integrations
 * A team of 485 FTE at the end of Q3 2021 and additional investments in the
   organization to facilitate further growth and scaling 
 * LTM Q3 2021 cash flow from operations of NOK 16 million 
 * NOK 435 million in cash at the end of Q3 2021 - providing a strong financial
   platform for further organic growth
 * EUR 150 million in new total credit framework through ESG linked EUR notes
   that lowers interest rates on current EUR 35.5 million debt and makes EUR
   114.5 million available for the financing of potential further acquisition


 "EcoOnline operates in a very attractive virgin market with strong secular
tailwinds. With our broad EHS platform that is agnostic to customer size and
industry and our large and fast-growing customer base, we are well positioned to
continue our strong growth journey. Our confidence in the market as well as in
our organization is reflected in the increase of our 2025 target to NOK 1.1
billion from NOK 1.0 billion. Ournew financial structure lowers interests and
expands financial facilities secure financing of our M&A strategy," says Göran
Lindö, CEO of EcoOnline. 

Please see the attached combined report and presentation for more information
and detailed financial statements for Q3 2021. 

The results will be presented in a webcast with CEO Göran Lindö, VP Corporate
Development Andreas Nordsjö, and CFO Siw Ødegaard today at 08.00 a.m. CET. The
presentation and subsequent Q&A session will be held in English and may be
viewed live at https://live.twebcast.com/participant/ecoonlineq3report 

A recording of the presentation will be made available on EcoOnline.com -
https://www.ecoonline.com/investor-relations after the presentation. 

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 the Norwegian Securities Trading Act. 

CONTACTS

 * Siw Ødegaard, CFO and Head of IR at EcoOnline, +47 957 59 848,
   siw.odegaard@ecoonline.com 

ABOUT ECOONLINE

EcoOnline is a European EHSQ SaaS market leader dedicated to developing
software, creating safer and more sustainable workplaces while ensuring
compliance. EcoOnline has offered a positive contribution to customers and
society since its inception and is a leader in the Nordics, UK, and Ireland. The
company has experienced strong organic growth over the last years and has a
clear history of successfully acquiring and integrating companies with the same
level of employee engagement as EcoOnline. 

ATTACHMENTS

EcoOnline Holding AS_Q3 2021 financial report.pdf -
https://kommunikasjon.ntb.no/ir-files/17847687/972/1273/EcoOnline%20Holding%20AS
_Q3%202021%20financial%20report.pdf

Click here for more information

© Oslo Bors ASA, source Oslo Stock Exchange