Konsolidator grew by 29% in 2022

Konsolidator A/S
Konsolidator A/S

Company announcement no 3-2023

Søborg, February 8, 2023

Konsolidator grew by 29% in 2022

Konsolidator’s annual recurring revenue grew to DKK 17.6m and revenue grew to DKK 16.7m in 2022 an annual growth of 29 %. During 2023, Konsolidator needs additional equity capital of DKK 5m to finance the operations for 2023 at the current state. Furthermore, refinancing of the convertible loan is needed by 1 September.

"We were optimistic entering 2022, just having presented a new three year strategy “Unfolding the potential” but the changing market conditions led to a different approach than originally anticipated. We have centralized our sales team in Copenhagen and gone from 36 employees at the beginning of 2022 to 24 at the end of 2022. Still we were able to deliver growth of 29 % in ARR and revenue in 2022. We need to attract equity capital of DKK 5m which will be enough to to support our future operations. says CEO Claus Finderup Grove.

2022 Financial Highlights

  • ARR amounted to DKK 17.6m compared to DKK 13.6m in 2022, corresponding to an increase of 29%.

  • Revenue amounted to DKK 16.7m compared to DKK 13.0m in 2021, corresponding to an increase of 29%.

  • The contribution margin was 94% compared to 95% in 2021. EBIT amounted to DKK (22.0m) compared to DKK (24.2m) in 2021.

  • EBIT before share-based payments was DKK (19.7m) compared to DKK (23.0m).

  • Total cash and cash equivalents amounted to DKK 1,5m at the end of 2022 compared to DKK 17.2m at the end of 2021.

  • The total equity amounted to DKK (11.4m) on December 31, 2022 compared to DKK 4.9m a year before.

Outlook

  • Revenue is expected to be in the range of DKK 20-22m and and ARR in the range of DKK 21-23m by the end of 2023, corresponding to a growth of 20-30%.

  • Expected EBIT in 2023 in the range of DKK (8-5m).

  • Expected EBIT before share-based payments in 2023 in the range of DKK (6-3m).

  • Konsolidator needs to attract DKK 5m equity capital in 2023 in order to finance the operations.

  • On 1 September 2023 the convertible loan of DKK 25m needs to be refinanced.

Annual Report 2022
Konsolidator’s Annual Report 2022 is included in this announcement and can be found on Konsolidator’s investor website.

Investor webinar
On 9 February 2022 at 15.00 (CET) an investor webinar will be held. Sign up using this link.

Contacts

Certified Adviser

  • Grant Thornton, Jesper Skaarup Vestergaard, phone +45 3527 5011, www.grantthornton.dk

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. Konsolidator was listed at Nasdaq First North Growth Market Denmark in 2019. Ticker Code: KONSOL

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