Q-FREE – FOURTH QUARTER AND PRELIMINARY FY 2019 RESULTS
Q-Free delivered YoY revenue growth of 2% in the fourth quarter of 2019. Reported EBITDA increased to 11 MNOK from 9 MNOK in Q4-18 whereas the adjusted EBITDA ended at 15 MNOK in Q4-19 versus 22 MNOK in Q4-18. Order intake was solid and the backlog remained at a high level. Liquidity and available cash improved on the back of 46 MNOK in positive cash flow from operations and 11% reduction in net interest-bearing debt. Highlights for Q4-19 include: * 246 MNOK in revenues, up 2% YoY * 11 MNOK in reported EBITDA and 15 MNOK in adjusted EBITDA (6% margin) compared to 9 MNOK and 22