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SmartCraft ASA (SMCRT) – Q3 2024: Continued high growth and strong cash flow, margins impacted by acquisitions and one-off items

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HØNEFOSS, Norway, Nov. 5, 2024 /PRNewswire/ — SmartCraft ASA, the leading Nordic provider of mission-critical SaaS solutions to small and mid-sized companies in the construction sector, today reported its results for the third quarter of 2024, with continued solid revenue growth, strong cash flow, but margins impacted by dilutive acquisitions and one-off items.

Reported revenue in the second quarter grew 32 percent year-on-year to NOK 132 million, of which 94 percent was recurring. During the third quarter, SmartCraft has started to transform the business models in the newly acquired companies to increase their recurring revenues, which has a short-term impact on revenues and margins, but drives both revenues and margins over time.

The adjusted EBITDA-capex margin was 25.3 percent (33.8% in Q3 23), including a negative effect of 4.4 percentage points from acquired companies and a further negative effect of 4.1 percentage points, partly from one-off initiatives in the quarter to increase scale and synergies. Customer revenue churn in the third quarter was slightly up to 8.3 percent. Operating cash flow was 34 million, up 58 percent year-on-year.

“The demand for digital solutions remains high in the construction industry, and with a challenging macroeconomic backdrop, we are pleased with delivering double-digit organic growth in annual recurring revenue (ARR) in the third quarter. From the second to the third quarter, we added NOK 13 million in ARR, to a record-high growth of 3 percent, lifting ARR to NOK 474 million,” said CEO of SmartCraft Gustav Line and continued:  

“The ARR growth since the third quarter last year was 29 percent, including the contribution of the acquisitions of Clixifix in the UK and Locka in Sweden. This underpins our strong long-term record with 28 percent compounded annual growth since 2019.”

The acquisition of Clixifix, concluded in the second quarter 2024, was SmartCraft’s first expansion outside the Nordics.

“The entry to the UK opens a huge opportunity space, increasing our total addressable market to NOK 50 billion, and we have already started multiple projects to explore organic growth and additional acquisitions with Clixifix as a base. I am also pleased to see that the Clixifix operation itself is performing well with significant year-on-year margin improvement and recurring revenue growth above 30 percent,” said Gustav Line.

SmartCraft’s SaaS solutions are primarily aimed at small and medium-sized businesses in the renovation segment, a part of the construction industry which normally is less affected by the soft macroeconomic conditions than the broader construction segment. At the same time, the improving economic outlook in Sweden positively influences trade.

“Three interest rate cuts in Sweden so far this year have resulted in increased optimism within the construction industry and led to accelerating revenue growth for SmartCraft Sweden. This is a good indication of what to expect in Norway when interest rates come down in this market too. All in all, we stay positive about our prospects and reiterate our target of 15-20 percent organic revenue growth in the medium term. Similarly, we expect the adjusted EBITDA margin to increase due to the scalability of the business,” said Gustav Line.

The third quarter 2024 report and presentation materials are enclosed.

WEBCAST PRESENTATION

Investors, analysts, and journalists are welcome to join an English-language webcast presentation of the report today, Tuesday 5 November 2024, at 08:00 CET.

Webcast link: https://channel.royalcast.com/hegnarmedia/#!/hegnarmedia/20241105_2

Presenters: CEO Gustav Line and CFO Kjartan Bø

Viewers are welcome to submit written questions through the webcast player during and after the presentation. A recording of the presentation will be available on the same link and at https://smartcraft.com/investor-relations/ immediately after the live stream is concluded.

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.

CONTACTS
Gustav Line, CEO, +47 952 67 104, gustav.line@smartcraft.com
Kjartan Bø, CFO, +47 410 27 000, kjartan.bo@smartcraft.com

ABOUT SMARCRAFT

SmartCraft is the leading Nordic provider of mission-critical SaaS solutions to SMEs in the construction sector, increasing their productivity, margins, and resource efficiency. The Group currently has more than 13 300 customers and 260 employees distributed across Norway, Sweden, Finland and UK. SmartCraft was listed on the Oslo Stock Exchange in June 2021.

This information was brought to you by Cision http://news.cision.com

https://news.cision.com/smartcraft-asa/r/smartcraft-asa–smcrt—-q3-2024–continued-high-growth-and-strong-cash-flow–margins-impacted-by-ac,c4061167

The following files are available for download:

 

View original content:https://www.prnewswire.co.uk/news-releases/smartcraft-asa-smcrt–q3-2024-continued-high-growth-and-strong-cash-flow-margins-impacted-by-acquisitions-and-one-off-items-302296324.html

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B&R Technology Merger Corp. Announces Pricing of $325 Million Initial Public Offering

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NEW YORK, July 20, 2026 /PRNewswire/ — B&R Technology Merger Corp. (the “Company”) announced the pricing of its initial public offering of 32,500,000 units at $10.00 per unit. The units will be listed on the Nasdaq Global Market (“Nasdaq”) under the symbol “BRTMU” commencing on July 21, 2026. Each unit consists of one Class A ordinary share of the Company and one-third of one warrant, each whole warrant entitling the holder thereof to purchase one Class A ordinary share of the Company at an exercise price of $11.50 per share. Once the securities constituting the units begin separate trading, the Company expects that the Class A ordinary shares and warrants will be listed on Nasdaq under the symbols ” BRTM” and ” BRTMW,” respectively.

The Company was formed for the purpose of effecting a merger, amalgamation, share exchange, asset acquisition, share purchase, reorganization or similar business combination with one or more businesses. It may pursue an initial business combination target in any business or industry.

Citigroup Global Markets Inc. (“Citigroup”) is acting as sole bookrunner and representative of the underwriters. The Company has granted the underwriters a 45-day option to purchase up to 4,875,000 additional units at the initial public offering price to cover over-allotments, if any.

This offering will only be made by means of a prospectus. Copies of the preliminary prospectus relating to the offering and final prospectus, when available, may be obtained from Citigroup, c/o Broadridge Financial Solutions, 1155 Long Island Avenue, Edgewood, New York 11717 or by telephone at (800) 831-9146.

A registration statement relating to these securities has been declared effective by the U.S. Securities and Exchange Commission (the “SEC”). This press release shall not constitute an offer to sell or the solicitation of an offer to buy, nor shall there be any sale of these securities in any State or jurisdiction in which such an offer, solicitation or sale would be unlawful prior to registration or qualification under the securities laws of any such State or jurisdiction.

FORWARD-LOOKING STATEMENTS

This press release contains statements that constitute “forward-looking statements,” including with respect to the proposed initial public offering and the anticipated use of the net proceeds. No assurance can be given that the offering discussed above will be completed on the terms described, or at all, or that the net proceeds of the offering will be used as indicated. Forward-looking statements are subject to numerous conditions, many of which are beyond the control of the Company, including those set forth in the Risk Factors section of the Company’s registration statement and preliminary prospectus for the Company’s offering filed with the SEC. Copies are available on the SEC’s website, www.sec.gov. The Company undertakes no obligation to update these statements for revisions or changes after the date of this release, except as required by law.

View original content:https://www.prnewswire.com/news-releases/br-technology-merger-corp-announces-pricing-of-325-million-initial-public-offering-302830053.html

SOURCE B&R Technology Merger Corp.

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Paris-Planet Is Back with a Fresh New Way to Explore Paris

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MONTREAL, July 20, 2026 /PRNewswire/ — Planning a trip to Paris just got a little easier.

Paris-Planet has officially relaunched with a completely redesigned website that helps travelers discover and book some of Paris’s best museums, attractions, tours, and local experiences in one place.

The new site was built for people who want to spend less time jumping between dozens of websites and more time getting excited about their trip. Whether it’s your first visit to Paris or your fifth, Paris-Planet brings together the experiences that make the city unforgettable.

“We wanted to build the kind of website we would actually use ourselves,” said Chaz Desousa, founder of Paris-Planet. “There are so many incredible things to see in Paris, but planning a trip can quickly become overwhelming. Our goal was to make discovering and booking experiences simple, inspiring, and enjoyable.”

Visitors can browse everything from famous landmarks and museums to food tours, river cruises, walking tours, family activities, and seasonal events. Along with tickets and experiences, the site also features destination guides, travel tips, and ideas for making the most of every day in Paris.

The relaunch also includes a faster website, improved navigation, and a mobile-friendly design, making it easy for travelers to plan before they leave home or while they’re already exploring the city.

Activity provider can sign up here to Sell Paris Tours & Tickets Online

Paris remains one of the world’s most visited destinations, welcoming millions of visitors every year. Paris-Planet was created to help those travelers spend less time searching and more time experiencing everything the city has to offer.

About Paris-Planet

Paris-Planet is an online travel guide and booking platform focused exclusively on Paris. The website helps visitors discover museums, attractions, tours, activities, and unique local experiences while making trip planning simple and enjoyable.

For more information, visit www.paris-planet.com.

View original content:https://www.prnewswire.com/news-releases/paris-planet-is-back-with-a-fresh-new-way-to-explore-paris-302829953.html

SOURCE Paris-Planet

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Fox ESS Launches POWER BEAST to Simplify C&I Energy Storage Deployment

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SYDNEY, July 21, 2026 /PRNewswire/ — Fox ESS, a global leader in renewable energy solutions, has announced the Australian launch of POWER BEAST, a scalable commercial and industrial energy storage solution combining the H3 Plus Hybrid Inverter with the CQ7 High Voltage Storage Battery.

Traditional commercial battery systems often require extensive cabling, multiple connection points, and significant on-site assembly, “POWER BEAST combines a compact dual-stack design with fast, plug-and-play installation, reducing system height and installation complexity,” said Brooks Richard Geng, APAC & Middle East Managing Director at Fox ESS. “By integrating the H3 Plus with the scalable CQ7 platform, we are helping partners lower costs, save space and deliver C&I projects with greater confidence.”

POWER BEAST is built around the H3 Plus Hybrid Inverter, the modular CQ7 High Voltage Battery and the optional CQ7 Dual Tower Base. Available with AC output from 50 kW to 125 kW, the H3 Plus supports up to three independent battery inputs.

When paired with CQ7 batteries, a single inverter can support up to 292 kWh of storage capacity. Multiple POWER BEAST systems can scale up to 3.125 MW / 7.35 MWh for on-grid applications and 1.25 MW / 2.94 MWh for off-grid applications.

For projects targeting the NSW PDRS BESS4 capacity range, one H3 Plus 100 kW inverter paired with two CQ7 battery stacks provides approximately 195 kWh of storage capacity, allowing projects to maximise potential incentive value.

A key feature of POWER BEAST is the CQ7 Dual Tower Base, which supports two battery stacks on one shared base and keeps system height under 1.3 m. Pre-installed power and communication connections simplify installation and reduce wiring risks, while the system integrates solar PV, battery storage, EPS backup, generator and EV charging, with approximately five-second module installation.

By combining the H3 Plus Hybrid Inverter, modular CQ7 storage and the Dual Tower Base accessory, POWER BEAST provides installers, EPCs, distributors and project partners with a scalable C&I platform designed to reduce installation complexity and make more efficient use of available space. For more information, please visit: https://au.fox-ess.com/

View original content to download multimedia:https://www.prnewswire.com/apac/news-releases/fox-ess-launches-power-beast-to-simplify-ci-energy-storage-deployment-302829658.html

SOURCE Fox ESS

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