Correction - Mirovia Nordics AB (publ) publishes year-end investor report 2022 - Successful launch of the European expansion
Correction: In the attached investor report, the table "Pro Forma EBITDA development" on page 6, the numbers for Acquisition related expenses and Mirovia Group - pro forma (IFRS) has been corrected to reflect the negative nature of the expenses.
Mirovia Nordics AB (publ) ("Mirovia" or the "Group") ended the year with a solid 9.8% increase in pro forma turnover from SEK 978m to SEK 1 073m, compared to 2021. The pro forma EBITDA increased at a similar pace, at 9.9%, from SEK 182m to SEK 200m.
Mirovia is continuing to grow organically, despite these exceptional times and the Group has been able to do so while maintaining their profitability. Mirovia is well diversified with its strategy and consequent focus on business-critical software solutions. Significant efforts were made in this last quarter to successfully onboard and integrate new portfolio companies from previous quarters. This further strengthened the organisation and created the basis for the Group's additional organic growth.
Mirovia Group consists of Mirovia Nordics AB (publ) and 19 subsidiaries. Mirovia achieves growth by acquiring and holding profitable businesses in niched IT-segments, as well as providing its subsidiaries with the tools and context needed for them to continue to grow organically.
“I am even more pleased that as a young company we were able to master these challenging times not only well, but even exceedingly well. It is precisely in such difficult times that our focus on business-critical solutions has proven to be right.” Sebastian Karlsson, CEO
KEY FINANCIAL DATA
LTM Q4 2022 PRO FORMA (Q4 2021 figures)
- Total revenue increased by 9.8% to SEK 1 073m (978)
- EBITDA increased by 9.9% to SEK 200m (182)
- Adjusted EBITDA increased by 13.3% to SEK 211m (187)
- The EBITDA margin was 18.7 (18.7) %
- The Adjusted EBITDA margin was 19.7 (19.1) %
- Net interest-bearing debt was SEK 704m (257)
- Net leverage was 3.50
Pro forma numbers are calculated as if all subsidiaries were part of the Group for the full period. LTM pro forma Q4 refer to the 12-month period Jan 2022 to Dec 2022. Numbers in brackets refer to full year 2021 pro forma numbers.
SIGNIFICANT EVENTS DURING THE QUARTER
- Mirovia has focused entirely on strengthening the organisation. Significant effort has been put into successfully onboarding new portfolio companies from previous quarters.
- In parallel, the mutually planned further development of each portfolio company was initiated and, in addition, new hires were made to strengthen the core teams.
- Mirovia UK Ltd was established.
SIGNIFICANT EVENTS AFTER PERIOD-END
- Mirovia acquired its first business in the UK, Public-i Group Ltd, in January 2023. Public-i is a leading provider of live streaming conferences, remote meetings, and Audio video for the local governments.
- Susanne Najafi resigned from Mirovia's Board of directors in connection with the shareholders' meeting on 3 February 2023. Susanne will remain with the Group as advisor to Lyvia Group.
Please refer to the attached full investor report for additional information.
About Mirovia
Mirovia is a European Group that invests in entrepreneur driven companies that offer software solutions and niche IT services. Mirovia was founded in 2020, with the goal of being an active owner and business partner to small and medium-sized companies that have continued control over their operations.
For more information, please contact:
- Sebastian Karlsson, CEO and Co-founder on sebastian@mirovia.io
- Martin Fagéus, CFO on martin@mirovia.io
This information constitutes inside information that Mirovia Nordic AB (publ) is required to publish in accordance with the Market Abuse Regulation (EU 596/2014). The information was submitted, through the care of the above contact person, for publication at the time specified by the Company's news distributor Cision at the time of publication of this press release. The above responsible persons can also be contacted for further information.