STOCKHOLM, Aug 10, 2017 /PRNewswire/ -- LINK Mobility Group ASA (LINK) confirms its strategy, and reports solid revenue growth in the second quarter of 2017. The strong figures are the result of high organic growth and successful acquisitions. In addition to delivering solid results for the quarter, LINK has signed multiple term sheets which will further strengthen the market position in Norway and Spain through the acquisitions of Vianett and GMS, and entering the Polish and Bulgarian market through the acquisitions of SMSAPI and Voicecom. LINK has become one of Europe's leading and fastest growing companies within the industry.
The strong organic revenue growth in the quarter, confirms the positive underlying trend of solid growth in the market for mobile messaging and mobile solutions delivered by LINK. LINK achieved operating revenues of NOK 281 million in the second quarter, up 126 per cent compared with corresponding period last year. The overall market conditions have been favorable, resulting in a messaging volume of 864 million, and an organic growth in the Mobile Messaging segment of 35 per cent.
The adjusted EBITDA for the second quarter is reported at NOK 30 million, an increase of NOK 13 million from same quarter last year.
The financial position is good, with a solid cash position of NOK 464 million after the completion of a EUR 50 million bond in the first quarter. The bond will provide LINK with required flexibility to pursue its growth strategy as the bond facility fully funds the acquisition strategy towards 2018.
"Q2 was another strong quarter for LINK, with strong growth across our markets. Great success in recruiting new customers, and signing of material new contracts driving innovation in LINK to new heights. We were also very successful in our acquisition work adding leading companies in markets such as Poland and Bulgaria to our footprint. We still see strong demand for our mobile messaging and solutions services, and furthermore great interest in our innovative new solutions such as JOYN and Mobile Invoice. We look forward to continuing our market and customer expansion, and see a strong growth potential for increased penetration in our existing markets with our existing services. There is a huge number of business in our markets that will benefit strongly from using LINK´s mobile messaging and solutions services going forward," says Arild Hustad, CEO of LINK.
A lunch presentation will be held by CEO Arild Hustad and CFO Thomas Berge regarding the second quarter reporting at 11:30 on Thursday 10th of August in the office of Beringer Finance, Grundingen 2, Aker Brygge Oslo. Please register attendance at email@example.com
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SOURCE Link Mobility Group ASA