TECHSTEP ASA Highlights Q3 2020 · Gross profit wasNOK 71 million , up fromNOK 60 million last year · EBITDA adjusted wasNOK 16 million , up fromNOK 6 million · Annual Recurring Revenue (ARR) wasNOK 38 million with 209,000 end-users at the end of the quarter · Signed five new contracts forTechstep's software-based managed mobility service 'Flow', with an estimated value ofNOK 43 million · Strengthened position within managed mobility services through the acquisition ofOptidev AB · Digital transformation speeding up - mobility market fundamentals strengthening further Note:Optidev AB is not consolidated inTechstep's Q3 2020 resultsTechstep announced on3 September 2020 a binding agreement to acquire 100% of the shares inOptidev AB and completed the transaction1 October 2020 .Optidev AB is not consolidated inTechstep's Q3 2020 reporting. On a proforma basis combiningTechstep andOptidev AB results, third quarter gross profit wasNOK 99 million , EBITDA adjusted wasNOK 27 million and the Annual Recurring Revenue (ARR) is 60 million. Commenting on the Q3 report,Jens Haviken , CEO ofTechstep says: "The world is going mobile and the ongoing pandemic speeds up the transformation and changes the way we move, interact and work. Although the market environment is challenging - with lower demand for hardware and traditional services - we see a positive development in our managed mobility services offering. Our 'Flow' concept has been well received inSweden , and three of the five new Flow contracts signed in the quarter were with Swedish customers. Our ambition is to become the leading managed mobility service provider in the Nordics, based on our own software and IP. The acquisition of the B2B mobility software and solutions provider Optidev marks a major step on this journey. While still in the early stages, we have high hopes for the roll-out of our managed mobility services across the Nordic market. Our opportunity pipeline is promising, although we see continued uncertainties in the overall market as we move towards the end of 2020. Our main focus remains the development of our managed mobility services platform, and continued onboarding of new and existing customers will be top priority. We are working hard to improving both the customer experience and our operational efficiency to ensure that we succeed.Techstep is all set for making work mobile to society, people and organizations". Material Please find the report and presentation for Q3 2020 enclosed. Presentation and audiocast: Due to the COVID-19 situation and the government's recommendation to limit physical meetings, the presentation will be held as an audiocast with slideshare only. The presentation will be given in English by CEOJens Haviken and CFOMarius Drefvelin today at10:00 am CET . Please join the Q3 2020 results presentation via the following link: https://techstep.eventcdn.net/2020q3/ (https://www.google.com/url?q=https://tec h step.eventcdn.net/2020q3/&sa=D&source=calendar&ust=1604261760621000&usg=AOvVaw0h c PKbDi0-b0t-iUY4eVla) A recorded version of the presentation will be made available on www.techstepasa.no shortly after the broadcast has been concluded. For more information:Jens Haviken , CEO,Techstep ASA : +47 930 90 070 Marius Drefvelin, CFO,Techstep ASA : +47 958 95 690 AboutTechstep ASA Techstep is purpose-built to become a leading Managed Mobility Services provider in the Nordics.Techstep combines device management, software, hardware and connectivity into a managed service. This enables enterprises and their employees to do their work across mobile devices and locations, with a high degree of security and operational stability.Techstep has 290 employees based inNorway ,Sweden andDenmark , serving close to 4,000 customers across various industries in the private and public sectors. The company is listed on theOslo Stock Exchange . For more information, see www.techstepasa.no.
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