OSLO, Norway, Nov. 9, 2017 /PRNewswire/ -- LINK Mobility Group ASA (LINK) confirms its strategy, and reports solid revenue growth in the third quarter of 2017 which is traditionally a slow quarter. The strong figures are the result of high organic growth and successful acquisitions. LINK has closed multiple transactions which will further strengthen the market position in Norway and Spain through the acquisitions of Vianett and GMS, and entering the Polish, Bulgarian and French market through the acquisitions of Comvision, Voicecom and Netmessage. LINK has also signed a term sheet regarding the acquisition of the Italian entity Totalconnect. LINK is 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 298 million in the third quarter, up 129 percent compared with corresponding period last year. The overall market conditions have been favorable, resulting in a messaging volume of 934 million, and an organic growth in the Mobile Messaging segment of 36 percent
The adjusted EBITDA for the third quarter is reported at NOK 32 million, an increase of NOK 22 million from same quarter last year. The EBITDA margin is reported at 10.8 percent, an increase of 2.8 percentage points versus same quarter last year.
The financial position is good, with a cash position of NOK 289 million. LINK has mandated ABG Sundal Collier ASA and Danske Bank to arrange for a tap issue of EUR 30 million on the existing bond agreement subject to inter alia market conditions. If successful, net proceeds from such transaction will be used to provide funding for future acquisitions in line with the acquisition strategy towards 2018.
"Q3 was a strong quarter for LINK in a typically low season with holiday´s across our markets. We had strong recruitment of new customers and additional sales of mobile messaging and solutions to our existing customers. A strong quarter where we closed acquisitions in Spain, Poland, Bulgaria and France. Our customer base has now grown to a healthy 16 000 enterprises, with a good balance of large enterprises and SME enterprises. This gives us an excellent platform to continue penetrating our markets going forward with state of the art mobile messaging and solutions. There is a vast number of Enterprises 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 presentation will be held by CEO Arild Hustad and CFO Thomas Berge regarding the third quarter reporting at 12:00 on Thursday 9th of November in the office of Arctic Securities, Haakon VIIs gate 5, Oslo. Please register attendance at firstname.lastname@example.org.
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SOURCE Link Mobility Group ASA