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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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Peninsula Visa Launches Comprehensive OCI Processing Services

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43 minutes ago

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May 3, 2026

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Peninsula Visa, a trusted leader in immigration and visa processing services with over 50 years of expertise, today announced the launch of its comprehensive Overseas Citizen of India (OCI) processing services. To celebrate this milestone, Peninsula Visa is offering new users an exclusive 20% discount with promo code OCI20 at checkout.

SAN JOSE, Calif., May 3, 2026 /PRNewswire-PRWeb/ — Peninsula Visa, a trusted leader in immigration and visa processing services with over 50 years of expertise, today announced the launch of its comprehensive Overseas Citizen of India (OCI) processing services. To celebrate this milestone, Peninsula Visa is offering new users an exclusive 20% discount with promo code OCI20 at checkout.

For 50 years, Peninsula Visa has helped families navigate immigration. OCI processing is one of our most impactful services, connecting the Indian diaspora to their heritage. We’re proud to bring our expertise to help families secure OCI status with confidence. Evan James, CEO

A Full Suite of OCI Services

Peninsula Visa’s OCI services cover every stage of the OCI lifecycle, ensuring that members of the Indian diaspora receive expert support from start to finish.

The four service types now available are:

New OCI Application — For foreign nationals of Indian origin, spouses of Indian citizens or existing OCI card holders, and minor children with at least one Indian parent applying for OCI status for the first time.OCI Card Renewal — For card holders whose OCI card has expired, or whose linked passport has been renewed or replaced and requires an updated booklet.Re-issuance (Age Milestones) — OCI cards must be re-issued when minors reach the age of 18 and again when card holders turn 50, due to significant changes in appearance. Peninsula Visa guides clients through both transitions seamlessly.Miscellaneous OCI Services — Covering corrections to existing records, lost or damaged card replacement, address changes, and other administrative updates to the OCI file.

Why Choose Peninsula Visa for Your OCI Application

Peninsula Visa brings decades of institutional knowledge and a client-first philosophy to every OCI case.

Key value propositions include:

Expert Guidance — Dedicated OCI specialists with deep knowledge of consulate requirements, eligibility rules, and documentation standards across all service types.High Approval Rate — A meticulous multi-stage review process that identifies and resolves issues before submission, dramatically reducing the likelihood of rejection or delay.Fast Turnaround — Standard processing in 12-15 Business Days for most OCI service types, with real-time status updates throughout the process.End-to-End Support — Personalized document checklists, secure document uploads, expert form preparation, consulate submission, and post-submission tracking — all in one place.

Launch Promotion

Save 20% on any OCI service — new users only

OCI20

Enter code OCI20 at checkout. Available to new users. No expiration date.

Leadership Perspective

“For 50 years, Peninsula Visa has helped individuals and families navigate the complexities of immigration documentation. OCI processing is one of the most impactful services we have ever added — it directly connects the Indian diaspora to their heritage country in a lasting, meaningful way. We are proud to bring our proven expertise and client-centric approach to this important service, and we look forward to helping thousands of families secure their OCI status with confidence.”

Founded in 1975, Peninsula Visa has built its reputation on precision, transparency, and a genuine commitment to client outcomes. The addition of OCI processing services reflects the company’s ongoing mission to expand its offerings to meet the evolving needs of immigrants and their families across the United States.

Get Started Today

Eligible applicants can begin their OCI journey by visiting Peninsula Visa’s dedicated OCI Services page. New users can take advantage of the 20% launch discount by entering promo code OCI20 at checkout when selecting any OCI service type.

Media Contact

Evan James, Peninsula Visa, 1 4087277515, media@peninsulavisa.com, https://peninsulavisa.com/

View original content to download multimedia:https://www.prweb.com/releases/peninsula-visa-launches-comprehensive-oci-processing-services-302760544.html

SOURCE Peninsula Visa

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Technology

Peninsula Visa Launches Comprehensive OCI Processing Services

Published

43 minutes ago

on

May 3, 2026

By

Peninsula Visa, a trusted leader in immigration and visa processing services with over 50 years of expertise, today announced the launch of its comprehensive Overseas Citizen of India (OCI) processing services. To celebrate this milestone, Peninsula Visa is offering new users an exclusive 20% discount with promo code OCI20 at checkout.

SAN JOSE, Calif., May 3, 2026 /PRNewswire-PRWeb/ — Peninsula Visa, a trusted leader in immigration and visa processing services with over 50 years of expertise, today announced the launch of its comprehensive Overseas Citizen of India (OCI) processing services. To celebrate this milestone, Peninsula Visa is offering new users an exclusive 20% discount with promo code OCI20 at checkout.

For 50 years, Peninsula Visa has helped families navigate immigration. OCI processing is one of our most impactful services, connecting the Indian diaspora to their heritage. We’re proud to bring our expertise to help families secure OCI status with confidence. Evan James, CEO

A Full Suite of OCI Services

Peninsula Visa’s OCI services cover every stage of the OCI lifecycle, ensuring that members of the Indian diaspora receive expert support from start to finish.

The four service types now available are:

New OCI Application — For foreign nationals of Indian origin, spouses of Indian citizens or existing OCI card holders, and minor children with at least one Indian parent applying for OCI status for the first time.OCI Card Renewal — For card holders whose OCI card has expired, or whose linked passport has been renewed or replaced and requires an updated booklet.Re-issuance (Age Milestones) — OCI cards must be re-issued when minors reach the age of 18 and again when card holders turn 50, due to significant changes in appearance. Peninsula Visa guides clients through both transitions seamlessly.Miscellaneous OCI Services — Covering corrections to existing records, lost or damaged card replacement, address changes, and other administrative updates to the OCI file.

Why Choose Peninsula Visa for Your OCI Application

Peninsula Visa brings decades of institutional knowledge and a client-first philosophy to every OCI case.

Key value propositions include:

Expert Guidance — Dedicated OCI specialists with deep knowledge of consulate requirements, eligibility rules, and documentation standards across all service types.High Approval Rate — A meticulous multi-stage review process that identifies and resolves issues before submission, dramatically reducing the likelihood of rejection or delay.Fast Turnaround — Standard processing in 12-15 Business Days for most OCI service types, with real-time status updates throughout the process.End-to-End Support — Personalized document checklists, secure document uploads, expert form preparation, consulate submission, and post-submission tracking — all in one place.

Launch Promotion

Save 20% on any OCI service — new users only

OCI20

Enter code OCI20 at checkout. Available to new users. No expiration date.

Leadership Perspective

“For 50 years, Peninsula Visa has helped individuals and families navigate the complexities of immigration documentation. OCI processing is one of the most impactful services we have ever added — it directly connects the Indian diaspora to their heritage country in a lasting, meaningful way. We are proud to bring our proven expertise and client-centric approach to this important service, and we look forward to helping thousands of families secure their OCI status with confidence.”

Founded in 1975, Peninsula Visa has built its reputation on precision, transparency, and a genuine commitment to client outcomes. The addition of OCI processing services reflects the company’s ongoing mission to expand its offerings to meet the evolving needs of immigrants and their families across the United States.

Get Started Today

Eligible applicants can begin their OCI journey by visiting Peninsula Visa’s dedicated OCI Services page. New users can take advantage of the 20% launch discount by entering promo code OCI20 at checkout when selecting any OCI service type.

Media Contact

Evan James, Peninsula Visa, 1 4087277515, media@peninsulavisa.com, https://peninsulavisa.com/

View original content to download multimedia:https://www.prweb.com/releases/peninsula-visa-launches-comprehensive-oci-processing-services-302760544.html

SOURCE Peninsula Visa

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Booking.com’s Latest Travel and Sustainability Research Reveals Australian Generational Paradox

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2 hours ago

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May 3, 2026

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SYDNEY, May 4, 2026 /PRNewswire/ — Today Booking.com released its 11th annual research report into consumer attitudes and understanding of the social and environmental impact of travel. With insights from 32,500 travellers across 35 markets globally, including 1,000 from Australia, this year’s research highlights a generational paradox.

While 83% of Australian travellers say that more sustainable travel is important to them, older generations demonstrate greater commitment through concrete actions, despite younger generations often expressing stronger sustainability intentions.

Older generations demonstrate greater commitment through concrete sustainable actions, with almost two–thirds of Boomers across Asia Pacific (63%) saying they will shop more at local, independent stores on their trips, three–quarters (75%) planning to reduce general waste, and 63% intending to reduce energy consumption, higher than Gen X, Millennials and Gen Z.However, younger travellers are leading in cultural and conservation management; more than a quarter of Gen Z (27%) and Millennials (26%) participated in a tour or activity that contributed to the health or conservation of the local ecosystem or wildlife.Extreme weather is actively reshaping travel choices. Nearly three-quarters of Australian travellers said they consider extreme weather risk when choosing both destination (72%), and timing (75%), and 27% reported having cancelled or changed trip plans in the past twelve months due to extreme weather or natural disaster.Australian travellers are shifting when and where they travel, seeking reliable climates and comfort. 43% say they plan to avoid overcrowded tourist destinations, 42% plan to travel outside of peak season, and 26% will seek out destinations with cooler temperatures.In 2025, travellers booked more than 100 million room nights on Booking.com at accommodation partners with a third-party sustainability certification, including at 363 third-party certified Australian properties.

To find Booking.com’s full 2026 research, visit here.

 

View original content:https://www.prnewswire.com/apac/news-releases/bookingcoms-latest-travel-and-sustainability-research-reveals-australian-generational-paradox-302760310.html

SOURCE Booking.com

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