LINK Mobility - Financial report first quarter 2021
LINK Mobility (LINK) reports total revenue growth of 12% and organic revenue growth of 6% despite economies being severely impacted by new and stricter lockdowns across its European footprint. In April 2021, LINK observes high growth in messaging volumes of 31%, which indicates a quick rebound as societies start to reopen and enterprises are reengaging activity to a normal operating environment. LINK also reports a margin expansion with an adjusted EBITDA growth of 29% and margin increase to 11.5 % from 10.0% same quarter last year. LINK reiterates its forward-looking statement which targets NOK 10 billion in pro forma revenue by 2024 and EBITDA margins in the 13-15% range.
During the first quarter, LINK signed or closed three acquisitions. Tismi in the Netherlands, MarketingPlatform in Denmark and AMM in Italy. Including WebSMS in Austria acquired in November last year, LINK has now added an annual revenue contribution in excess of EUR 40 million from M&A since the IPO in October last year.
LINK's total operating revenue increased 12% to NOK 946 million in the first quarter compared to the corresponding period last year. There was a negative FX of -2% with a stronger NOK in the quarter. Reported growth in adjusted EBITDA was 29% to NOK 109 million, whereof NOK 21 million was related to the acquisitions of WebSMS and Tismi. The adjusted EBITDA margin improved by 1.5 percentage points. LINK's scalable business model is set up to handle large amounts of additional volumes and revenue. A relatively small increase in operating expenses can support significant revenue growth driving margins and profitability.
"We are pleased to report expanding margins and growth in a very challenging operating environment. April volumes already indicate a rebound and LINK is well positioned for pent up demand as societies reopen. We continue to deliver on our M&A strategy and with economies normalizing, we reiterate our forward-looking statement," says Guillaume Van Gaver, CEO of LINK.
The quarterly results will be presented in an audio webcast at 10:00 CET today by Guillaume Van Gaver, CEO and Thomas Berge, CFO.
To join the audio webcast, please go to
https://channel.royalcast.com/landingpage/hegnarmedia/20210511_13/
The webcast will also be available from LINK's investor relations pages
https://linkmobility.com/investor-relations/
The audio webcast targets investors, analysts and media. Attendees will be able to post questions during the webcast for a Q&A session at the end.
For further information, please contact
Tom Rogn, VP Investor Relations +47 94 85 56 59 tom.rogn@linkmobility.com press@linkmobility.com
About LINK Mobility
LINK is one of Europe's leading providers of mobile messaging and communications platform as a service (CPaaS) solutions for increased engagement. The company serves enterprise, SME, and government customers. LINK offers a wide range of innovative and scalable mobile solutions, creating valuable digital convergence between businesses and customers, governments and citizens, platforms and users. LINK has 40,000 customer accounts globally and exchanges more than 10 billion messages a year. For more information about LINK, please see www.linkmobility.com
This information is subject to the disclosure requirements pursuant to section 5-12 of the Norwegian Securities Trading Act