SmartCraft ASA (SMCRT) - Annual Report 2022
SmartCraft ASA | Annual financial and audit reports
28 March 2023 – SmartCraft ASA, the leading Nordic provider of mission-critical SaaS solutions to small and mid-sized companies in the construction sector, today published its Annual Report and Sustainability Report for 2022. The report is enclosed, together with the company's annual financial statements in European Single Electronic Format (ESEF). The documents are also available on the Company's website.
“Reflecting on 2022, we are happy to conclude that we continue our strong track record of high revenue growth and continued high margins even in a market with global turmoil. Low churn and increased number of customers is a proof point that our SaaS based solutions for construction companies and craftsmen are attractive even in turbulent times. They are easy to use, affordable and contribute strongly to increased efficiency and control for the customer,” said CEO of SmartCraft Gustav Line.
SmartCraft grew revenues by 23 percent to NOK 333 million in 2022, and the adjusted EBITDA margin was 39 percent.
“The construction industry is among the least digitalized, and as a leading player in the field we have a solid growth outlook. Our SME customers are mainly operating with upgrades, services and maintenance of existing buildings, jobs that needs to be done regardless of the economic climate. Additionally, the majority of our users are electricians and plumbers who experience great demand due to all the energy savings initiatives from their customers as well as tougher environmental regulations. We maintain our medium-term target of 15-20 percent organic revenue growth with increasing margins due to scalability of the business. In addition, we will seek to continue to grow our business through value accretive bolt-on acquisitions,” said Gustav Line.
SmartCraft’s Sustainability report 2022 is expanded compared to the previous year, and the company releases its first ESG score card.
“The construction industry plays a hugely important role with regards to decarbonization and net zero, and there are significant opportunities for SmartCraft to support the industry on the journey. During 2023 we will establish short-and long-term sustainability targets and strengthen the way we report progress,” said Gustav Line.
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 of the Norwegian Securities Trading Act.
The stock exchange announcement was published by the contact person, at the date and time as set out above.
Contacts
Gustav Line
CEO
Tel:
Kjartan Bø
CFO
Tel:
About SmartCraft ASA
SmartCraft is the leading Nordic provider of mission-critical SaaS solutions to SME's in the construction sector. The company’s business model is highly scalable, based on 96% recurring revenue and low churn. The construction sector is among the least digitalized industries and represents a NOK 10bn software market in the Nordics, growing at a double-digit rate. SmartCraft’s solutions help customers to increase their productivity, margins, and resource efficiency.