Resilient business model - Q1 2020 group revenue of EUR 27.7 million (EUR 10.8 million)
- YoY increase of 158% reflects inclusion of vwd
- EUR 0.8 million decrease vs. Q4 2019 driven by reduced non-recurring revenue in vwd
Q1 2020 adjusted EBITDA of EUR 4.2 million (EUR 1.9 million)
- Positive YoY impact due to inclusion of vwd Group
- Continued synergy capture and cost optimisation efforts moving forward as planned
Implemented group-wide measures following COVID-19 outbreak
- Focus on employee health and complying with local guidance
- Smooth transition to home offices during lock-down periods
- Stable system performance during spike in activity
vwd integration moving forward according to plan
- Joint sales and product development efforts for the entire group
- Combining the best of Infront and vwd
- Delivering on communicated cost-savings plan
Oslo, 15 May 2020: Infront ASA (INFRNT) today announced its interim results for Q1 2020. Operating revenue was EUR 27.7 million (EUR 10.8 million), an increase of 158% from the same quarter last year. The increase reflects the inclusion of vwd Group.
The COVID-19 outbreak in the first quarter of 2020 has had a great social and economic impact worldwide. The first and most important part of the group’s response to COVID-19 has been to ensure the health and safety of employees and to safeguard operational stability.
“Our top priorities amid the COVID-19 outbreak are to ensure the safety and welfare of our employees and to provide excellent services to our customers in a time of heightened market activity. During the first quarter, we continued the vwd integration, focusing on leveraging our combined product portfolio and attaining cost synergies. The uncertainty accompanying the COVID-19 pandemic is challenging for all, but we are confident that we have the right team, business model and value proposition to deliver on our strategy,” said Kristian Nesbak, CEO and founder of Infront.
Realizing continued synergy capture and cost optimisation effects, adjusted EBITDA was at EUR 4.2 million compared to EUR 1.9 million in Q1 2019. Reported EBITDA was EUR 3.7 million (EUR 1.8 million).
Infront generates most of its revenue from recurring subscription contracts for its services which represented about 98% of total sales for Q1 2020.
Infront will present the Q1 2020 results at 10.00 CEST today hosted by CEO Kristian Nesbak and CFO Max Hofer via a Microsoft Teams Event. The presentation will be held in English.
Follow this link to access the webcast: https://bit.ly/2SRbMyY
There will be a Q&A session right after the presentation, please send questions to email@example.com or post them through Microsoft Teams. A recording of the presentation will be available on the website shortly after the webcast has ended.
For further information please contact:
Kristian Nesbak, CEO of Infront, +47 940 04 000
Max Hofer, CFO of Infront, +47 971 48 953
The interim report and presentation are also available on the investor relations pages at www.infrontfinance.com/investor-relations
Infront offers a powerful combination of global market data, news, analytics and trading tools. With the recent acquisition of vwd Group, Infront’s product coverage also includes data and feed solutions, solutions for portfolio management and advisory, regulatory compliance as well as publication and distribution solutions. Our more than 3,000 customers and over 90,000 professional users benefit from the highest level of expertise in regulation, private wealth, market data and the frictionless interaction of the diverse solutions and products covering their complete workflow.
More than 500 employees in 13 countries across Europe and South Africa apply their expertise to meet the challenges of our clients, ensuring they continuously receive the best solutions and services. Infront is listed on the Oslo Stock Exchange.