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TECHSTEP ASA: Q2 AND H1 2018 RESULTS

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Highlights second quarter 2018

  • Q2 2018 revenues NOK 253 million; year-over-year growth 39%
  • Q2 2018 EBITDA NOK 11.7 million compared with negative NOK 2.5 million in Q2 2017. This includes a positive effect of NOK 10 million from a reversal of an earn-out liability related to the acquisition of BKE TeleCom AB in Sweden
  • Awarded new contracts with a potential total value of NOK 191 million in Q2 and NOK 523 million in H1 2018
  • Techstep’s end-user base increased with 38% year-over-year to ~635,000 at the end of Q2 2018, providing a large platform for upselling
  • Acquired Wizor AS, enabling Techstep to deliver high security solutions for mobile units
  • Raised NOK 25 million in new equity to finance the Wizor acquisition and other growth investments

“In line with our strategy and driven by acquisitions, Techstep delivered solid revenue growth in the second quarter of 2018. Adding the new contracts we closed in the quarter, the potential value of contracts closed so far in 2018 have surpassed half a billion Norwegian kroner. To continue this growth journey and strengthen our profitability, we need to fully integrate the companies Techstep has acquired over the last two years. Enterprises in the private and public sectors increasingly want mobile solutions for their employees, but they need simple and secure solutions to be able to adopt at scale. That is why we are consolidating our customer offerings, aligning everyone behind one Techstep brand and building a shared, strong company culture in Norway and Sweden that consistently deliver on customer needs. This will create a more efficient Techstep better equipped to make sure customers harvest the benefits mobile technology offers and better equipped to create profits”, says Jens Haviken, CEO of Techstep.

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Material:

Please find the report and presentation for Q2 and H1 2018 enclosed.

Techstep Q2 2018 Report
Techstep Q2 2018 Presentation

Presentation and audiocast:

Techstep will present its Q2 and H1 2018 results at 10.00 am CET, at Hotel Vika Atrium, Munkedamsveien 45, in Oslo, Norway. A live audiocast with slide share will be available at: http://webtv.hegnar.no/presentation.php?webcastId=92031236

Further information from:

Jens Haviken, CEO, Techstep ASA: +47 930 90 070
Marius Drefvelin, CFO, Techstep ASA: +47 958 95 690

About Techstep ASA

Techstep is positioning itself as a leading Nordic enabler of the digital workplace. Techstep’s “Mobile as a Service” (MaaS) offering is a one-stop-shop solution, which combines hardware, subscription & connectivity, mobile device management, managed services and related software, in addition to financing. The MaaS solution enables enterprises to let employees do their work across mobile devices and locations, with a high degree of security and operational stability. Techstep has approximately 220 employees based in Norway and Sweden, serving close to 6,000 customers and 635,000 end users across various industries in the private and public sectors. The company is listed on the Oslo Stock Exchange. For more information, please visit http://techstepasa.no/.

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