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- EUR 0.7 million increase vs. Q1 2020 driven by higher transaction volume in German subsidiary
Q2 2020 adjusted EBITDA of EUR 5.0 million (EUR 2.1 million)
- Positive YoY impact due to inclusion of vwd Group
- Significant positive QoQ impact of EUR 0.8 million driven by
- Increase in volume-driven revenues in German subsidiary
- Continued synergy capture
- Reduction in other operating expenses, following COVID-19 outbreak
vwd Group integration moving forward according to plan
- Combining the best of Infront and vwd Group
- Successful MVP release of Infront Professional Terminal product to several clients in the DACH region
- Preparing for roll-out of several vwd products in the Nordics
- Delivering on cost-savings plan as communicated
Adapted to new working environment, following COVID-19 outbreak in Q1 2020
- Continued focus on employee health and complying with local guidance
- Focus on developing and delivering state-of-the-art products and solutions, regardless of our market- and work-environment
Oslo, 21 August 2020
Infront ASA (INFRNT) today announced its interim results for Q2 2020. Operating revenue was EUR 28.4 million (EUR 10.9 million), an increase of 160% from the same quarter last year. The increase reflects the inclusion of vwd Group.
“The second quarter of 2020 was both challenging and eventful for everyone at Infront. First and foremost, I am proud of how our employees responded to the lock-down and how fast we all adapted to working from home. I am also satisfied with how the COVID-19 outbreak has had little impact on our short-term projects. In May 2020, Infront successfully rolled out an MVP of the IPT-terminal to several of our clients in the DACH region. This marks a major step in our integration efforts, as our long-term goal is to offer similar products and solutions to clients, across regions.
While the current marked environment is marked by uncertainty, we remain optimistic about the future. Finance professionals need the right tools to make the right decisions. By focusing on offering state-of-the-art products and solutions at highly competitive prices, Infront will continue to be the smart alternative.” said Kristian Nesbak, CEO and founder of Infront.
Adjusted EBITDA was at EUR 5.0 million compared to EUR 2.1 million in Q2 2019. Reported EBITDA was EUR 4.1 million (EUR 1.0 million).
Infront generates most of its revenue from recurring subscription contracts for its services which represented about 98% of total sales for Q2 2020.
Webcast
Infront will present the Q2 2020 results at 10.00 CEST today hosted by CEO Kristian Nesbak and CFO Max Hofer via a Microsoft Teams Event. The presentation will be held in English.
Follow this link to access the webcast: https://bit.ly/321qF5w
There will be a Q&A session right after the presentation, please send questions to ir@infrontfinance.com or post them through Microsoft Teams. A recording of the presentation will be available on the website shortly after the webcast has ended.
For further information please contact:
Kristian Nesbak, CEO of Infront, +47 940 04 000
Max Hofer, CFO of Infront, +47 971 48 953
The interim report and presentation are also available on the investor relations pages at www.infrontfinance.com/investor-relations
About Infront
Infront offers a powerful combination of global market data, news, analytics and trading tools. With the recent acquisition of vwd Group, Infront’s product coverage also includes data and feed solutions, solutions for portfolio management and advisory, regulatory compliance as well as publication and distribution solutions. Our more than 3,000 customers and over 90,000 professional users benefit from the highest level of expertise in regulation, private wealth, market data and the frictionless interaction of the diverse solutions and products covering their complete workflow.
Approximately 500 employees apply their expertise to meet the challenges of our clients, ensuring they continuously receive the best solutions and services. Infront is listed on the Oslo Stock Exchange.
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