- 14/04/2021
The 2020 Annual Report is published ^
Arribatec Solutions ASA published the audited 2020 annual report with reported revenues of NOK 154.0 million, up from NOK 113.7 million in 2019, and an adjusted EBITDA of NOK 14.8 million.
The highlights for 2020 include the acquisition of Facil, Microsky and Innit, the successful completion of four capital raises and the initiation of the ambitious international expansion and growth strategy. At the end of 2020, Arribatec had a total of NOK 188 million in cash.
In late 2020, Arribatec announced the intention to acquire Norwegian Qualisoft AS, a leader in Enterprise Architecture (EA) and Business Process Management (BPM) solutions, Italian IB Marine Group, a leading provider of cloud-based Enterprise Asset Management solutions within the maritime sector and Maksit AS, specialists in Unit4 HR and Payroll solutions and with a strong customer list.
The potential in our current organisation is significant, and further investments to enlarge the sales capacity will fuel organic growth and help us take advantage of our full potential. In the M&A area, we will continue to pursue exciting opportunities to strengthen our geographical presence and widen our solution offering,
“With these acquisitions, we have more than tripled our workforce and proforma revenue for 2021 compared to 2020. Our comprehensive solutions and customer base derived from these acquisitions, combined with organic growth and activities, have proven to fuel our growth significantly. Integration of the recent acquisitions is ongoing, and the group realises synergies continuously. New contracts, public tenders and direct sales have shown that all acquisitions are contributing isolated through cross-sales and will fuel future growth”, Stav concludes.
"Unusual seems to be the most fitting description of 2020 in more ways than one. The global pandemic hit the entire world in the middle of Q12020, creating a lot of uncertainties and changing our way of working globally. During the pandemic, we went public on the Oslo Stock Exchange. We doubled our workforce during 2020, expanding our solution offerings and continuing our growth with the acquisition of Microsky, Innit, Fácil and Maksit."
