Konsolidator realized exponential growth in Q1, 2020 compared to Q1, 2019

Company announcement no 7, 2020

April 27, 2020

Financial report for the period January 1 to March 31, 2020

Highlights

In the outlook for 2020 two main goals were announced: An ARR increase higher than 2019 (71%) and an exponential growth in number of customers on a quarter-on-quarter basis:

ARR: Konsolidator reached an ARR of DKK 5.3m at the end of Q1, 2020 compared to 2.9m at the end of Q1, 2019 - an increase of 83 %Customers: Konsolidator signed 15 contracts in Q1, 2020 compared to 7 in Q1, 2019 - an increase of 114%COVID-19: Konsolidator followed the recommendation from the Danish Prime Minister and closed its offices in Denmark and Sweden on March 12. Konsolidator is monitoring the COVID-19 impact on a daily basis and can so far conclude that the number of sales meetings (all online) and the number of signed contracts are at the same level as before March 12

Management review

Roll out of Konsolidator's platform and software

Konsolidator is beginning to see the effects of the digital marketing strategy during the first three months of 2020. The company experienced increased traffic on the Konsolidator website and a significant growth in number of sales meetings. 

Konsolidator has experienced a faster than expected conversion from physical sales meetings to online meetings, which is important in our international expansion plans. Furthermore, the customer online onboardings have also increased faster than expected compared to the physical onboardings.

In Q1, 2020 Konsolidator signed more customers in Sweden than in Denmark, which is the first quarter where international growth is higher than the Danish growth.

As per March 31, 2019 Konsolidator has 95 customers and 9 out of the 15 new customers signed in Q1, 2020 are outside Denmark.

Economic growth

Konsolidator reached an Annual Recurring Revenue (ARR) of DKK 5.3m as per March 31, 2020 (2019: 2.9m) which is an increase in the last twelve months of 83 %. The ARR increased by DKK 0.7m in Q1, 2020 compared to an increase of DKK 0.3m in Q1, 2019 an increase of 133%.

Revenue for the period amounted to DKK 1.6m compared to DKK 1.1m in 2019 corresponding to an increase of 48 %. Earnings before interest, tax, depreciation and amortization (EBITDA) amounted to a negative of DKK 2.9m compared to 2019 which showed a negative EBITDA of DKK 0.3m.

Organizational growth

During the first three months of 2020 Konsolidator has not hired any new employees.

Outlook

Based on current general uncertainties surrounding the COVID-19 related changes in macro- and microeconomic matters, it is impossible to express outlook scenarios with a high degree of certainty. However, Konsolidator's current exponential growth can be impacted negatively if prospective customers' investment decisions are postponed or cancelled.

About Konsolidator

Konsolidator is a cloud-based and standardized SaaS consolidation and reporting tool that automates consolidation and monthly reporting and delivers accurate and timely management information based on corporate key ratios. Konsolidator wants to make financial consolidation and reporting easier for small- and medium-sized groups. The time the groups save, and the quality data obtained when using Konsolidator's cloud-based tool means that the groups can make better decisions and thus deliver higher strategic value.

For further information: CEO Claus Finderup Grove, mobile. +45 2095 2988, e-mail:
cfg@konsolidator.com

Financial Calendar

April 29, 2020: Annual general meetingJuly 28, 2020: Half year reporting, January 1 - June 30, 2020October 27, 2020: Third quarter reporting, January - October 31, 2020February 9, 2020: Annual report 2020

Konsolidator A/S 

Tobaksvejen 2 A 2860 Søborg
www.konsolidator.com 

Certified Adviser 

Ernst & Young P/S
Osvald Helmuths Vej 4 2000 Frederiksberg www.ey.com  

Attachment

Company announcement no 7-2020

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