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TECHSTEP ASA: Q3 2017 RESULTS

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Highlights

  • Techstep has continued to execute its growth strategy by acquiring two additional companies, developing its “Mobile as a Service” offering, growing its end user base and solutions sales
  • Q3 2017 revenues of NOK 180.8 million (NOK 132.7 million) ; increase reflecting acquisitions made in the period, as well as 40% organic growth in solutions revenue
  • Adjusted EBITDA of NOK 9.8 million (NOK 4.1 million) and EBITDA margin of 5.4% (3.1%) ; reflects positive development in solutions sales, partly offset by growth investments
  • Surpassed 600,000 end users across various industries in the private and public sector in Norway and Sweden, up from ~490,000 the previous quarter and ~230,000 at year-end 2016
  • Acquired enterprise mobility management specialist Conneqted 365 AB and the hardware company BKE TeleCom AB, complementing Techstep’s customer offering and pan-Nordic capabilities
  • Techstep’s unit Kjedehuset certified as “Apple Authorized Enterprise Reseller”, Apple’s new, tier one partner accreditation within the B2B market

“Today, Techstep provides a complete Mobile-as-a-service (MaaS) offering consisting of hardware, value adding software and services, and financing. For the first time since we embarked on this journey a year ago, we are truly a one-stop-shop Nordic enabler of the digital workplace” said Gaute Engbakk, CEO and continued “we have spent considerable time on M&A, integration and product development the last year. Now focus and energy shifts to product and solutions roll-out to our large-scale customer and end-user base in Norway and Sweden. Our Mobile-as-a-service (MaaS) solution makes work mobile in a better, easier and more secure and cost-efficient manner for our customers. That is why the MaaS solution is attracting strong interest and we expect it to drive revenue and profitability going forward”.

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Material:
Please find the report and presentation for Q3 2017 enclosed.

Techstep Q3 2017 Report
Techstep Q3 2017 Presentation

Presentation and audio webcast:
Techstep will present its Q3 2017 results at 09.00 am CET, at the offices of SpareBank 1 Markets, Olav V’s gate 5, Oslo, Norway. A live webcast with audio and slide share will be available at: http://webtv.hegnar.no/presentation.php?webcastId=72401842.

Further information from:
Gaute Engbakk, CEO, Techstep ASA: +47 916 33 281
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 200+ employees based in Norway and Sweden, serving close to 6,000 customers and 600,000 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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