The 2020 Annual Report is Published ^

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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.

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 organization is large 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 interesting opportunities to strengthen our geographical presence and widen our solution offering,

“With these acquisitions we have now more than tripled our workforce and proforma revenue for 2021 compared to 2020. Our extended 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 is realizing synergies on a continuing basis. New contracts, public tenders and direct sales have shown that all acquisitions are contributing isolated as well 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 changed our way of working globally. In the midst of the pandemic we went public on the Oslo Stock Exchange and doubled our workforce during 2020, expanded our solution offerings, all while continuing our growth path with the acquisition of Microsky, Innit, Fácil and Maksit."

- Per Ronny Stav, CEO of Arribatec
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Read the full report at Oslo Børs .

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