Infront Q4 report: Stable underlying business with higher volume-based revenues
Infront ASA (INFRNT) today announced its interim results for Q4 2020. Operating revenue was EUR 29.7 million (EUR 28.5 million), an increase of 4% from the same quarter last year.
“Infront finished 2020 with full-year revenues remaining stable (adjusting for consolidation of vwd Group for all of 2019). Considering the prolonged lockdown periods that negatively affected our marketing activities and all our integration efforts that have shifted much of our focus inwards, our topline development is definitely something we can all be proud of.
As we enter 2021, the initial phase of cost synergies is almost achieved with a total of EUR 5.8 million in realized cost synergies with vwd Group. When we reach the end of Q1 2021, we will have reached total cost savings of EUR 6 million through combining better data-sourcing and various operational efficiencies.
Going forward the integration efforts will be even more customer oriented, and probably more demanding due to several interdependencies between projects. In many instances, this will require important investments in both capital and internal resource allocation. However, when we eventually reach the end of the tunnel, our product portfolio will be more tailored and better adapted for our pan-European growth ambitions” said Kristian Nesbak, CEO and founder of Infront.
Adjusted EBITDA was at EUR 6.2 million compared to EUR 4.8 million in Q4 2019. Reported EBITDA was EUR 5.7 million
(EUR 6.3 million).
Infront will present the Q4 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/3oQaOAh
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.
The interim report and presentation are also available on the investor relations pages at www.infrontfinance.com/investor-relations