(Oslo, Norway, 30 April 2024) Arribatec Group ASA (OSE: ARR, Arribatec) today
reported revenues of NOK 144.6 million in the first quarter of 2024 down 3.6% %
from NOK 150.0 million in the corresponding quarter last year. EBITDA for the
quarter ended at break-even (5.3), a 5.3 million reduction compared to the same
quarter last year. Adjusted EBITDA came in at NOK 1.1 million. During the first
quarter of the year, the company signed 430 new contracts and scope extensions
for a combined value of NOK 138 million.
"During Q1 we saw a slight reduction in activity compared to the first quarter
in 2023. This reduction partly stems from Easter moving from Q2 in 2023 to Q1 in
2024, thus less consulting hours were delivered in Q1 this year. Business
Services in region Nordics on the other hand, had a record high revenue and
EBITDA in the first quarter. This comes on the back of delivering services to
existing Unit4 customers, and more importantly, projects delivered with software
from other partners