SmartCraft ASA (SMCRT) - Annual Report 2024

HØNEFOSS, Norway  , April 10, 2025 /PRNewswire/ -- SmartCraft ASA, the leading Nordic provider of mission-critical SaaS solutions to small and mid-sized companies in the construction sector, today published its Annual and ESG reports for 2024. The reports are enclosed, together with the company's annual financial statements in European Single Electronic Format (ESEF). The documents are also available on the Company's website.

"In 2024 we continued to build on our track record of steady, high growth, strong profitability and excellent cash flow. We ended the year with annual recurring revenue (ARR) of NOK 482 million, 25 percent higher than one year earlier. Organic growth was 8 percent, driven by a combination of organic factors and acquisitions," said CEO of SmartCraft Gustav Line.

SmartCraft's revenues ended at NOK 482 million, while the adjusted EBITDA-capex was NOK 141 million in 2024, representing a margin of 28 percent.

"The construction industry is still one of the least digitalized industries. Many companies still use pen and paper or simple spreadsheets instead of specialized systems, so the outlook for massive future growth both from new and existing customers is very much intact. 2024 was a year of significant progress for SmartCraft, and we made two important acquisitions, Locka in Sweden and Clixifix in the UK. The acquisition in the UK implies a significant increase in TAM for SmartCraft," said Gustav Line.

SmartCraft's main customer segment, small and medium sized enterprises primarily focusing on maintenance, which is less macro sensitive than new construction segment. Nevertheless, SmartCraft's growth is hampered by the weak macro conditions.

"SmartCraft targets 15-20 percent medium term organic growth with the addition of bolt on acquisitions. In 2024 our growth rate was lower, as the construction industry is facing the most challenging conditions in decades. However, we see that new sales continues to work well. This means that we are confident in our medium-term outlook. When macro eventually improves, we expect customer churn to decrease, customers to start upscaling their use of our tools, and organic growth to return to our target range a higher level, with increasing EBITDA margins due to scalability of the business," said Gustav Line.

SmartCraft today published its first standalone ESG report.

"By providing digital tools that simplify everyday tasks for thousands of construction companies, we contribute to building a safer, more sustainable, and more productive industry," said Gustav Line.

DISCLOSURE REGULATION

This information is considered to be inside information pursuant to the EU Market Abuse Regulation, and is subject to the disclosure requirements pursuant to section 5-12 of the Norwegian Securities Trading Act.

CONTACTS

 * Gustav Line, CEO, +47 952 67 104, gustav.line@smartcraft.com

 * Kjartan Bø, CFO, +47 410 27 000, kjartan.bo@smartcraft.com

ABOUT SMARTCRAFT ASA

SmartCraft is the leading Nordic provider of mission-critical SaaS solutions to SMEs in the construction sector, increasing their productivity, margins, and resource efficiency. The Group currently has more than 13 400 customers and 270 employees distributed across Norway, Sweden, Finland and UK. SmartCraft was listed on the Oslo Stock Exchange in June 2021.

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