Carasent ASA - announcement of revised financial targets

Carasent ASA (“Carasent” or the “Company”) is currently executing on its plan to create long-term shareholder value, as explained on the Capital Markets Day 7 November 2023. Due to order inflow being significantly above expectations; better than anticipated success on cost savings; and continued low churn, Carasent has improved visibility on the expected growth and profitability during the coming years. The Company therefore revises the financial targets as follows.

Financial targets 2024:

• Revenues of NOK 270 million (15% organic growth)
• EBITDA in excess of NOK 40 million
• EBITDA – capex around NOK 0
• EBITDA – capex of NOK 20 million excluding Webdoc X

Financial targets 2025:

• Revenues above NOK 320 million (20% organic growth)
• EBITDA of NOK 80 million
• EBITDA – capex of NOK 40 million
• EBITDA – capex of NOK 60 million excluding Webdoc X

Carasent is executing its strategy to reach targets with the current company structure. Potential acquisitions and divestments are not included. The financial targets are intended for a long-term perspective, and there will be variations between quarters. The new targets replace the long-term financial targets announced on 7 November 2023.

Carasent CEO Daniel Öhman comments:

The strength of a business like ours, with minimal churn, strong growth and cost control, is that bottom line scales rapidly as revenues grow. The additional customer contracts and cost reductions lead us to believe that it is time to update our financial goals.

Note: EBITDA and EBITDA - capex is alternative performance measures as a supplement to the financial statements prepared in accordance with IFRS. Please see the latest quarterly report for further details.