Oslo ,30 April 2024 : Spir Group ASA today publishes its annual report for 2023. The Board of Directors ofSpir Group has approved the annual accounts for 2023. The financial statements and annual report for the financial year 2023 are attached to this announcement. The ESEF file is also attached. 2023 has been an eventful year whereSpir Group has taken important steps, and methodically laid the groundwork for sustainable, long-term value creation through a series of fundamental adjustments. By the close of 2023,Spir Group has maintained its financial momentum. Revenue increased by 14% toNOK 1,057 million compared to FY 2022, with an adjusted EBITDA-margin of 18%. Annual recurring revenue reachedNOK 398 million , a growth of 7 percent compared to the previous year. In addition, transaction related revenues contributed to recurring and recurring-like revenues that constitute 81 percent of total income. A continued focus throughout the year has been on reshaping the company, and to reduced NIBD. With a new management team in place, focus will be on building best in class software and continue to be the customers number 1 trusted advisor in areas whereSpir Group delivers mission critical technology and solutions. "Looking into 2024 we believe we have laid the foundation for attractive and long-term value creation forSpir Group in the coming year. The goal is to continue organic growth by strengthening and refining Spir Group´s core pillars and at the same time, consider strategic acquisitions that will fit within Spir´s portfolio," said PerHaakon Lomsdalen , CEO ofSpir Group . Key financial highlights for 2023: o Revenue of MNOK 1,057 (up from MNOK 930 in 2022) o Adjusted EBITDA of MNOK 189 (up from MNOK 166 in 2022) o NIBD incl. lease liabilities reduced with MNOK 105 to MNOK 651 (MNOK 756 in 2022) There are no significant changes toSpir Group's consolidated statement of profit and loss and financial statement compared to the preliminary numbers disclosed in the Q4 2023 interim report. The annual report is also available in the investors section of the Company's website: https://spirgroup.com/reports-and-presentations For further queries, please contact: Spir Group ASA: PerHaakon Lomsdalen Chief Executive Officer Tel: +47 90 27 19 18 Email: per.lomsdalen@spirgroup.com Cecilie Brænd Hekneby Chief Financial Officer Tel: +47 99 29 38 26 Email: cecilie.hekneby@spirgroup.com AboutSpir Group Spir Group is a software house providing highly specialized software and services towards the public sector and a leading company within property data, property technology and data economics in the Nordics. Our customer base spans public sector as well as private businesses within real estate, banking, insurance, property developers, media companies, builders, property owners, taxation companies, engineers, power companies and building materials production. We create value for public sector, private businesses, and citizens, with an innovative approach to the use of data and data analysis. Our ambition is to build the leading Nordic ecosystem for public administration, property technology, analysis and data.
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