Techstep ASA – Capital Markets Update: Making work mobile

Oslo, Norway – December 1, 2020. Techstep ASA today hosts a virtual Capital Markets Update (CMU) focused on the company’s strategic development and outlook.

Techstep is positioning itself as a leading provider of Managed Mobility Services (MMS) in the Nordic region. The MMS market is expected to experience strong growth driven by mobile technology development and accelerated digital transformation across most industries and society at large.

Today’s CMU presents Techstep’s strategy and 2025 ambitions, with the following highlights:

• Techstep’s 2025 ambition is to manage more than 1 million mobile devices, up from around 200,000 today. Targeting enterprises in the Nordic private and public sectors with its leading MMS offering, the company has established a strategy with clear priorities to strengthen its market position and grow the number of devices under management: Organic growth in Norway and Sweden by converting existing and new customers to MMS customers, growth through mergers and acquisitions, and geographical expansion in the Nordics.
• Gross profit growth: Techstep’s customer offering is based on a service stack used to create bundled MMS solutions. The company will grow gross profit by ensuring that existing and new customers adopt the current MMS offering, as well as by adding customer value through new services. Techstep’s 2025 ambition is to increase gross profit per managed device from around NOK 800 to more than NOK 1 200.
• EBITDA development: Parts of near-term profits will be reinvested in the organization to capture the market opportunity, although the company also expects that gradual streamlining of the organization and operational leverage will improve profitability over time. EBITDA is expected to increase from the current level of around 20% of gross profit, to more than 30% of gross profit.

“In a world going mobile, Techstep is purpose-built to service the mobility needs of enterprises and their workforce. Managed mobility services (MMS) is a market in the early stages, and we are positioned for leadership in the Nordic region. We want to help enterprises and the Nordic workforce enjoy great MMS solutions, and our ambition is to manage more than 1 million devices by 2025. With more devices under management, we can drive value creation further with our services and solutions”, says Jens Haviken, Techstep CEO.

Techstep’s mobility services and MMS solution are focused on helping enterprises reduce cost, increase productivity, transform capabilities, improve employee engagement, drive business value and revenue growth, and improve the enterprises’ sustainability and ESG performance.

“Techstep’s managed mobility services benefit workers, enterprises, society and our planet, and we have a team of 300 dedicated mobility experts that are highly motivated to continue our growth journey”, Jens Haviken adds.

The company’s team and organization combine experience from IT services, mobile hardware, mobile solutions, telecommunication and advisory and professional services, all of which are key elements in the continued development of Techstep’s value-adding services and bundled MMS solution.

“We have a business plan focused on organic growth of our managed mobility services (MMS) solution, further M&A, and Nordic expansion. At the same time, we will move forward in alignment with a dedicated board and solid investors with proven track records. We look forward to 2021 with a purpose-built offering and clear set of ambitions in an MMS market that is expected to grow significantly” says Marius Drefvelin, Techstep CFO.

Documents

Download CMU documents from the company website www.techstepasa.no or see attached.

Event information

Please join our online event today 1 December 2020 at 10:00 - 12:00 (CET) from the following link:
https://techstep.zoom.us/j/89840482207

The presentations will be given in Norwegian/Swedish. Questions to the management can be submitted in writing during the webcast and will be answered during the Q&A-session at the end of the event.

The agenda of the CMU event:

• Building a leader in managed mobility services (MMS), Jens Haviken, CEO
• Enabling mobility with purpose-built solutions, Erik Haugen, CCO
• Our growth strategy, Jens Haviken, CEO
• Strengthening our Nordic market position, Fredrik Logenius, MD Optidev
• Financial perspectives, Marius Drefvelin, CFO
• Closing remarks, Jens Rugseth, COB

For further information

Jens Haviken, CEO Techstep: +47 930 90 070

Marius Drefvelin, CFO Techstep: +47 958 95 690

Erik Haugen, CCO Techstep: +47 967 90 101

About Techstep 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 managed services and solutions. 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 in Norway, Sweden and Denmark, serving 550+ enterprise customers across various industries in the private and public sectors. The company is listed on the Oslo Stock Exchange. For more information, see www.techstepasa.no.