Hva tenker dere om Q4. I forhold til inntektene gikk de kraftig i minus i Q3. Når forventer dere at de går i pluss?
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Mintra expands maritime and technology offering to drive strong growth ambitions
Bergen, Norway – 18 February 2021: Mintra Holding (OSE:MNTR) – a leading provider of digital learning and Human Capital Management systems for safety-critical industries – today announced it has acquired the maritime digital learning and crew competence management specialists, Safebridge, for a total consideration of EUR 5.95 million. The acquisition significantly accelerates Mintra’s growth in the global maritime sector and its strategy to rapidly increase its market share.
The acquisition will immediately double Mintra’s maritime eLearning portfolio with the addition of more than 50 technical and compliance titles. It also increases the company’s operational capabilities and combines an impressive suite of crew management and certification technologies to give Mintra an integrated, unique and market leading position.
The move follows Mintra’s acquisitions of OCS HR in 2016 and Atlas Knowledge in 2018. It will result in the addition of 500 new customers and 200,000 users, which will see Mintra servicing over 4,000 customer accounts and 2 million system users worldwide.
Scott Kerr, CEO of Mintra, comments:
“This is a significant move for Mintra in the maritime space, and substantially boosts this revenue line. At a time of travel restrictions and physical distancing, it is important that we continue to expand our online services to support our customers operating around the world.
“As one of our existing partners in our online marketplace, the Safebridge course portfolio is hosted on Mintra’s learning and competence system, so can be made instantly available to our customers. Conversely, we will make the full Mintra course library available to customers from Safebridge.
“Safebridge has a strong reputation in the market, with an excellent team and products, and a loyal customer base. In welcoming Safebridge to the Mintra family, we increase our capabilities in maritime and create an opportunity to share this specialist knowledge and expertise with our wider customer base.”
Martin Scott, Chairman of Mintra, comments:
“We are very pleased with the delivery of the first acquisition post-IPO. The management team and board are committed to accelerating growth through M&A, where the company has an excellent track record.”
Ralph Becker-Heins, CEO of Safebridge, comments:
“Today marks the beginning of an exciting new chapter for Safebridge; one where we can share, combine and accelerate our mission to grow with the Mintra team.
“Not only does this acquisition allow us to provide a greatly expanded offering for Safebridge customers, it provides an exciting opportunity for the Safebridge team to be part of Mintra’s and support the development of a market leading business.”
The Safebridge offering includes:
• Revenues in excess of 3.5 million Euros
• 50 maritime eLearning courses
• 3 Proprietary Management Systems
o ‘SafeMetrix’ - Psychometric Assessment
o ‘SafeLearn’ - LMS
o ‘myCert’ – Digital Certification
• 20+ years industry experience
• Offices in Hamburg and Cyprus
• 500 maritime customers – top 5 geographies
o Germany
o Cyprus
o Greece
o Philippines
o Netherlands
• 200,000 maritime system users – top 5 geographies
o Philippines
o India
o Greece
o Germany
o United Kingdom
• 300,000 course completions per year
In addition to providing the Safebridge maritime course library through its learning and competence management system, Trainingportal, Mintra will integrate functionality from Safebridge’s own compliance and certification products - SafeMetrix and myCert – to enhance the overall customer offering.
Mintra’s experience has shown that today’s ship managers and maritime HR professionals desire greater choice and flexibility from their training and systems providers. With the addition of Safebridge, Mintra is ideally positioned as a strong competitor in the market - a modern alternative, ready and able to meet this rising demand.
The combined company can offer a unique single source solution – training, competency and crew management - that allows their customers to effectively develop and deploy their people worldwide.
Ends
Picture caption: Scott Kerr, CEO Mintra
For further information, please contact:
Scott Kerr
CEO
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Fikk telefon fra megler, de hadde en kjøper for posten min. Det pleier å være et godt tegn. Q4 neste torsdag.
Pen dag. Noen som fikk med seg hele streamen? Jeg så bare at EBITDA marginene økte sykt mye!?
Åpnet nettopp denne tråden for å kommentere økningen i volum den siste tiden!
Ja, er det noe på gang her? MNTR har jo vært en tragedie notering så langt.
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Er på tide at det skjer noe hvertfall…
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Bevegelse nå. Se på volumene de siste dagene…
Stemmer det. Jeg tok 1/2 parten av potten av bordet i dag pga. Nano emisjonen, men tror denne fint kan gå videre mot 9-10 kroner og sitter rolig med resten… 
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Mintra creates new head of acquisitions role to accelerate growth strategy
Mintra – a leading provider of digital learning and human capital management (HCM) software solutions to safety-critical industries worldwide – has signalled strong intent for further growth with the appointment of Valentinos Steliou to the newly created role of head of acquisitions.
The appointment sees Mr Steliou, who is also managing director of Mintra’s operations in Cyprus, join the company’s senior management team. His role will be focused on target identification, proposition evaluation, deal completion and integration.
Mintra launched its initial public offering in October 2020 and at that time outlined its strategy to accelerate further growth – particularly within new industries and geographic sectors – through a programme of M&A.
It bought the maritime competence management specialist Safebridge in February this year, doubling the size of its sector-specific technical and competence eLearning titles and growing the system user base of over 2 million worldwide. It intends to add at least one further company to its portfolio by the end of 2021.
Scott Kerr, CEO of Mintra, said the creation of a role with specific remit for M&A demonstrated the company’s commitment to delivering on its growth pledge. He added: “Our acquisitions of OCS HR in 2016, Atlas Knowledge in 2018 and Safebridge in 2021 illustrate our ambitions of becoming the preeminent provider of digital learning and HCM software to safety-critical industries the world over.
Pareto: Mintra just delivered Q1’21 results, showcasing that the anticipated turn-around in eLearning is starting to materialize. Reported revenues came in at NOK 60m, slightly ahead of our estimate of NOK 58m. On a pro-forma basis, eLearning revenues were higher than all quarters in 2020 except Q1’20 (largely un-affected by COVID-19) and was 43% higher than Q4’20. The primary drivers are an increasing customer base in Asia and the expansion of the maritime course library following the acquisition of Safebridge. EBITDA came in at NOK 14.7m (adjusted for M&A related costs of NOK 4.3m), equaling an adj. margin of ~24%. With a recovery within eLearning starting to showcase and company outlooks un-changed we find today’s report supportive of our case. We expect to make minor estimate changes and reiterate our BUY recommendation and TP NOK 11.
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MINTRA: SB1M kutter kursmålet til NOK 6 (7), gjentar nøytral
For en suppe.
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Send meg PM, profilen din er lukket.
Hva er nye kursmål nå ? Kan ikke fatte at denne bare skal falle og falle , er jo ikke som om de ikke har kunder liksom… tegnet jo 7 nye kunder for noen dager siden
Fra Pareto, TP ikke avklart.
Mintra Group - Both revenue & EBITDA guidance lowered
Mintra just sent out a negative revision for its 2021 outlook (link), stating that COVID-19 continues to impact their customers, and the anticipated rebound in sales is not materializing as quickly as the company had previously expected. Revenues are now expected to be flat from 2020 pro-forma levels (NOK ~240m), down from the previous outlook of 10% growth. The EBITDA margin is now expected to come-in above 25%, down from the previous outlook of 35-40% (excl. acquisition costs). The revised revenue outlook is ~7% below our previous PF estimate of NOK 257m, and EBITDA at the low-end of the new outlook (25% margin) implies NOK 60m in EBITDA, ~25% below our current estimate of NOK 80m. Although Mintra was already at risk of coming short its previously guided growth figures (we previously expected 8% organic revenue growth in 2021e), today’s update is much worse that anticipated. Coupled with lower profitability, the equity case appears much bleaker. TP under review.