LINK Mobility (LINK) reported revenue of NOK 1,672 million, growing 25% in first
quarter 2024 with FX tailwind. Organic revenue growth in fixed currency was 20%.
Gross profit and adjusted EBITDA were reported at NOK 356 million and NOK 158
million respectively, with organic growth in fixed FX at 11% and 17%. Organic
adjusted EBITDA growth was reduced by an atypical bad debt provision in the
quarter. High Q1 24 cash reserve at NOK 3.4 billion and low leverage, as
measured by net debt to adjusted EBITDA, at 1.1x. Remaining EUR bond, maturing
in December 2025, to be refinanced within a conservative leverage policy of 2 -
2.5x adjusted EBITDA when appropriate, providing ample financing capacity for
LINK's disciplined M&A strategy. 

The strong balance sheet enables LINK to continue its proven track record of
inorganic growth with more than 30 acquisitions completed in Europe during the
last decade. There is substantial scope for further accretive inorganic EBITDA
growth through multiple arbitrage transactions in a still highly fragmented
industry. Discussions across a diverse M&A pipeline are ongoing and
constructive. Smaller bolt-ons in existing markets are a priority to realize
further scale, whilst the pipeline also includes several level-up opportunities
in both Europe and beyond.

LINK's recurring and growing business is driven by more than 50,000 loyal
customers continuing to increase their usage. The industry continues to observe
increased adoption rates for digital messaging and traction on higher margin
CPaaS solutions. A highly scalable business model drives higher organic adjusted
EBITDA growth compared to organic gross profit growth. 

"We are pleased to report another quarter at the high end of expectations.
Adding solid finances, an accretive M&A track record and several actionable
acquisition targets, LINK is well positioned for strong free cash flow growth in
2024 and beyond", says Thomas Berge, CEO of LINK.


The quarterly results will be presented in an audio webcast at 10:00 CET today
by Thomas Berge, CEO and Morten Edvardsen, CFO.

The audio webcast targets investors, analysts and media. Attendees will be able
to post questions in a Q&A session following the webcast.


To join the audio webcast and post questions, please go to
https://channel.royalcast.com/landingpage/hegnarmedia/20240513_1/

The webcast is also available from LINK's investor relations pages
https://linkmobility.com/investor-relations/ 


For further information, please contact

Tom Rogn, VP Investor Relations
+47 94 85 56 59
tom.rogn@linkmobility.com


About LINK Mobility 

LINK is an award-winning, leading global provider of mobile messaging and
communications platform as a service (CPaaS) solutions for increased engagement.
The company serves enterprise, SME and government customers. LINK offers a wide
range of innovative and scalable mobile solutions, creating valuable digital
convergence between businesses and customers, governments and citizens,
platforms and users. LINK has more than 50,000 active customer accounts globally
and exchanges 17 billion messages a year. LINK is listed on the Oslo Stock
Exchange under the ticker LINK. For more information about LINK, please see
www.linkmobility.com and follow LINK Mobility on LinkedIn.

This information is subject to the disclosure requirements pursuant to section
5-12 of the Norwegian Securities Trading Act.

Click here for more information

© Oslo Bors ASA, source Oslo Stock Exchange