Mercell Q3 2021: Focus on platform development and integrating acquisitions
Third quarter 2021 highlights:
- Focus on integrating acquisitions and development of a common Mercell platform
- ARR of NOK 792m per September, +134% year-on-year with organic growth of +21%
- Q3 revenue of NOK 189m, up +142% year-on-year
- Adjusted EBITDA of NOK 49.3m, with 26% margin
- Reported EBITDA of NOK 12.0m including NOK 37.3m in special cost items
- Development CAPEX of NOK ~165m in 2021, set to decline to NOK ~130m in 2022
Oslo, November 24, 2021: Mercell Holding ASA (Mercell) reports 134% growth in Annual Recurring Revenue (ARR) to NOK 792 million in the third quarter 2021, mainly driven by acquisitions. Excluding acquired ARR, the ARR increase over the past year was 21%.
Revenue increased by 142% year-on-year to NOK 189 million. Reported EBITDA was NOK 12 million including special cost items of NOK 37 million. Adjusted EBITDA was hence NOK 49 million, corresponding to an adjusted EBITDA margin of 26%.
“I am pleased to see that we have been able to revive growth in Mercell Commerce in Sweden which has picked up after our acquisition last year, and that Cloudia continues to show the growth trend we saw before we acquired the company in June” says CEO Terje Wibe. “We continue our focus in the second half of 2021 on integrating acquisitions and on development activities to create a common product platform for Mercell.”
Mercell aims for 15%-20% average annual growth in ARR in existing markets from 2020 to 2025 and a long-term EBITDA-target level of 40%+.
CEO Terje Wibe and CFO Fredrik Eeg will host a presentation and Q&A session today at 08:00 CET. Please use the following link to access the presentation:
The presentation will be followed by a Q&A session with the management. Questions may be asked in writing during and after the presentation in the questionnaire below the webcast window.
The report, presentation and the link to the webcast will be made available at: https://investor.mercell.com
CEO Terje Wibe
Cell: +47 90 83 79 98
CFO Fredrik Eeg
Cell: +47 90 83 33 78
About Mercell Holding:
Mercell delivers services to public and private buyers and our goal is to become the leading software-as-a-service (SaaS)-platform for e-tendering and procurement in Europe. Mercell is a leading platform for public e-tendering, recently entering the procurement market. We service approximately 30.000 customers across 15 European markets and in the US. Mercell's unique marketplace simplifies the tender and procurement process and makes it safe and easy for buyers to find relevant suppliers for their tenders and daily purchasing needs. We also ensure suppliers find relevant business opportunities as well as tools for the suppliers to digitally receive and handle purchases from public and private buyers.