Spir Group ASA today publishes its annual report for 2023. The Board of Directors of Spir Group has approved the annual accounts for 2023. The financial statements and annual report for the financial year 2023 are attached to this announcement.
2023 has been an eventful year where Spir Group has taken important steps, and methodically laid the groundwork for sustainable, long-term value creation through a series of fundamental adjustments.
By the close of 2023, Spir Group has maintained its financial momentum. Revenue increased by 14% to NOK 1,057 million compared to FY 2022, with an adjusted EBITDA-margin of 18%. Annual recurring revenue reached NOK 398 million, a growth of 7 percent compared to the previous year. In addition, transaction related revenues contributed to recurring and recurring-like revenues that constitute 81 percent of total income. A continued focus throughout the year has been on reshaping the company, and to reduced NIBD. With a new management team in place, focus will be on building best in class software and continue to be the customers number 1 trusted advisor in areas where Spir Group delivers mission critical technology and solutions.
"Looking into 2024 we believe we have laid the foundation for attractive and long-term value creation for Spir Group in the coming year. The goal is to continue organic growth by strengthening and refining Spir Group´s core pillars and at the same time, consider strategic acquisitions that will fit within Spir´s portfolio," said Per Haakon Lomsdalen, CEO of Spir Group.
Key financial highlights for 2023:
- Revenue of MNOK 1,057 (up from MNOK 930 in 2022)
- Adjusted EBITDA of MNOK 189 (up from MNOK 166 in 2022)
- NIBD incl. lease liabilities reduced with MNOK 105 to MNOK 651 (MNOK 756 in 2022)
Download the annual report here.
For further queries, please contact:
Spir Group ASA:
Per Haakon Lomsdalen, Chief Executive Officer
Tel: +47 90 27 19 18
Email: per.lomsdalen@spirgroup.com
Cecilie Brænd Hekneby, Chief Financial Officer
Tel: +47 99 29 38 26
Email: cecilie.hekneby@spirgroup.com
