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Konsolidator realizes growth in Annual Recurring Revenue of 73 %

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Konsolidator A/S
·2-min read
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Company announcement no 5-2021

Søborg, April 27, 2021

Financial report for the period January 1 to March 31, 2021

HIGHLIGHTS

In the outlook for 2021 in the annual report 2020, one main goal was announced: An Annual Recurring Revenue increase of 70-90% on a year-on-year basis, equaling DKK 13.5-15 million.

Economics

  • Annual Recurring Revenue (ARR) amounts to DKK 9.2m on March 31, 2021, an increase of 73 % compared to March 31, 2020, an increase of 15% since December 31, 2020.

  • Consolidated revenue for the first quarter amounted to DKK 2.2m compared to DKK 1.6m the same period in 2020.

  • Contribution margin of 94.5% compared to 96.9% in 2020.

  • Consolidated EBITDA amounted to DKK –5.9m compared to 2020 of DKK -2.9m.

  • The total equity amounted to DKK 20.6m on March 31, 2021 compared to DKK 8.8m the year before.

  • Total cash and cash equivalents amounted to DKK 10.4m on March 31, 2021 compared to DKK 2.9m on March 31, 2020.

  • Konsolidator has adopted International Financial Reporting Standards (IFRS), which is reflected in Q1 2021.

Roll out of Konsolidator’s platform and software

  • Konsolidator signed the first Konsolidator Audit to PwC Denmark in December 2020 which is in the test phase as planned.

  • Sales continued to be somewhat influenced by COVID-19 as set out in the 2020 annual report.

  • Konsolidator signed 19 new customers in Q1 compared with 15 new customers for Q1 2020. Konsolidator has 157 customers on March 31, 2021.

  • Konsolidator is active with customers in 14 countries.


Organizational growth

  • The country manager for UK, Lianne Gatti, started January 1, 2021 and signed two customers in Q1.

  • Konsolidator has 31 employees as per March 31, 2021 as compared to 19 employees the year before.

  • On February 1, 2021 Konsolidator A/S moved into a new office at Vandtårnsvej 83A, Søborg.

Outlook

Continuing the exponential growth in ARR in 2021 on a year-on-year basis and thus the expectation is still an increase in ARR between 70 and 90 % in 2021, equaling an ARR between DKK 13.5m and DKK 15.0m.

About Konsolidator

Konsolidator A/S is a financial consolidation software company whose primary objective is to make Group CFOs around the world better through automated financial consolidation and reporting in the cloud. Created by CFOs and auditors and powered by innovative technology, Konsolidator removes the complexity of financial consolidation and enables the CFO to save time and gain actionable insights based on key performance data to become a vital part of strategic decision-making.

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

Konsolidator A/S
Vandtårnsvej 38A
2860 Søborg
www.konsolidator.com

Certified Adviser
Grant Thornton
Stockholmsgade 45
2100 Copenhagen
www.grantthornton.dk

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