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SmartCraft ASA (SMCRT) – Q3 2024: Continued high growth and strong cash flow, margins impacted by acquisitions and one-off items

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HØNEFOSS, Norway, Nov. 5, 2024 /PRNewswire/ — SmartCraft ASA, the leading Nordic provider of mission-critical SaaS solutions to small and mid-sized companies in the construction sector, today reported its results for the third quarter of 2024, with continued solid revenue growth, strong cash flow, but margins impacted by dilutive acquisitions and one-off items.

Reported revenue in the second quarter grew 32 percent year-on-year to NOK 132 million, of which 94 percent was recurring. During the third quarter, SmartCraft has started to transform the business models in the newly acquired companies to increase their recurring revenues, which has a short-term impact on revenues and margins, but drives both revenues and margins over time.

The adjusted EBITDA-capex margin was 25.3 percent (33.8% in Q3 23), including a negative effect of 4.4 percentage points from acquired companies and a further negative effect of 4.1 percentage points, partly from one-off initiatives in the quarter to increase scale and synergies. Customer revenue churn in the third quarter was slightly up to 8.3 percent. Operating cash flow was 34 million, up 58 percent year-on-year.

“The demand for digital solutions remains high in the construction industry, and with a challenging macroeconomic backdrop, we are pleased with delivering double-digit organic growth in annual recurring revenue (ARR) in the third quarter. From the second to the third quarter, we added NOK 13 million in ARR, to a record-high growth of 3 percent, lifting ARR to NOK 474 million,” said CEO of SmartCraft Gustav Line and continued:  

“The ARR growth since the third quarter last year was 29 percent, including the contribution of the acquisitions of Clixifix in the UK and Locka in Sweden. This underpins our strong long-term record with 28 percent compounded annual growth since 2019.”

The acquisition of Clixifix, concluded in the second quarter 2024, was SmartCraft’s first expansion outside the Nordics.

“The entry to the UK opens a huge opportunity space, increasing our total addressable market to NOK 50 billion, and we have already started multiple projects to explore organic growth and additional acquisitions with Clixifix as a base. I am also pleased to see that the Clixifix operation itself is performing well with significant year-on-year margin improvement and recurring revenue growth above 30 percent,” said Gustav Line.

SmartCraft’s SaaS solutions are primarily aimed at small and medium-sized businesses in the renovation segment, a part of the construction industry which normally is less affected by the soft macroeconomic conditions than the broader construction segment. At the same time, the improving economic outlook in Sweden positively influences trade.

“Three interest rate cuts in Sweden so far this year have resulted in increased optimism within the construction industry and led to accelerating revenue growth for SmartCraft Sweden. This is a good indication of what to expect in Norway when interest rates come down in this market too. All in all, we stay positive about our prospects and reiterate our target of 15-20 percent organic revenue growth in the medium term. Similarly, we expect the adjusted EBITDA margin to increase due to the scalability of the business,” said Gustav Line.

The third quarter 2024 report and presentation materials are enclosed.

WEBCAST PRESENTATION

Investors, analysts, and journalists are welcome to join an English-language webcast presentation of the report today, Tuesday 5 November 2024, at 08:00 CET.

Webcast link: https://channel.royalcast.com/hegnarmedia/#!/hegnarmedia/20241105_2

Presenters: CEO Gustav Line and CFO Kjartan Bø

Viewers are welcome to submit written questions through the webcast player during and after the presentation. A recording of the presentation will be available on the same link and at https://smartcraft.com/investor-relations/ immediately after the live stream is concluded.

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 SMARCRAFT

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 13 300 customers and 260 employees distributed across Norway, Sweden, Finland and UK. SmartCraft was listed on the Oslo Stock Exchange in June 2021.

This information was brought to you by Cision http://news.cision.com

https://news.cision.com/smartcraft-asa/r/smartcraft-asa–smcrt—-q3-2024–continued-high-growth-and-strong-cash-flow–margins-impacted-by-ac,c4061167

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RapidTranslate.org Centralizes Language Resources and Expands Certified Translation Services Globally

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November 22, 2024

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SAN FRANCISCO, Nov. 22, 2024 /PRNewswire/ — RapidTranslate.org announces the strategic integration of three leading language resource platforms into its comprehensive translation services ecosystem. The company has partnered with Languages Without Limits (www.languageswithoutlimits.co.uk), Workshop on Immigrant Languages (www.workshoponimmigrantlanguages.org), and Arctic Languages (www.arcticlanguages.com) to enhance its educational and research offerings while maintaining these platforms’ valuable existing resources.

This integration coincides with RapidTranslate.org’s significant expansion into the European market, where the company now provides certified translations in over 60 languages across Germany, France, Spain, Italy, and the United Kingdom. This dual focus on educational resources and certified translations reinforces RapidTranslate.org’s position as a trusted global language services provider.

Key Highlights of RapidTranslate.org’s Offerings:

Comprehensive Language Support: Enhanced educational and research resources through the integration of three respected language platforms, serving educators, researchers, and language enthusiasts worldwide.

Certified Translations: Professional translation services for official and legal documents, backed by a 100% USCIS acceptance guarantee.

Global Reach: Expanded European presence supporting individuals, families, businesses, and professionals across key markets.

A Leader in Certified Translations

RapidTranslate.org delivers professional translations for immigration documentation, legal submissions, business contracts, and academic records. Every document is processed by experienced human translators to ensure linguistic and cultural accuracy. Services include:

24-Hour Turnaround: Express service for up to three pages within one business daySecure Processing: Enterprise-grade security protocols for document handlingWorldwide Acceptance: Certified translations recognized by government agencies, academic institutions, and businesses globally

“By creating a centralized hub for both language resources and certified translation services, we’re meeting the evolving needs of our increasingly connected world,” says CEO and founder of RapidTranslate.org. “Our expansion into Europe represents our commitment to providing accessible, professional language services to a global audience.”

Supporting a Multilingual World

RapidTranslate.org continues to advance its mission of fostering global communication through its combination of advanced technology and professional human expertise. With over 350,000 successfully translated documents and a growing repository of language learning resources, RapidTranslate.org remains dedicated to quality, security, and accessibility in language services.

About RapidTranslate.org

Founded in 2020, RapidTranslate.org has grown from a specialized translation service to a comprehensive language solutions provider. The company serves clients ranging from individual immigrants to Fortune 500 companies, maintaining the highest standards of accuracy and security in document translation while advancing language education and research.

Connect with RapidTranslate.org: Website: www.rapidtranslate.org

View original content:https://www.prnewswire.com/news-releases/rapidtranslateorg-centralizes-language-resources-and-expands-certified-translation-services-globally-302314613.html

SOURCE Rapid Translate

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Roland DGA’s DG DIMENSE Technology Wins Inspire Award for Best Wallcoverings/Wall Treatment at Boutique Design New York (BDNY) Trade Fair and Conference

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November 22, 2024

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Coveted Awards Recognize the Most Innovative and Exciting Exhibitors at Important Boutique Hotel Design Event.

IRVINE, Calif., Nov. 22, 2024 /PRNewswire/ — Roland DGA’s DG DIMENSE technology was honored with an NKBA Manhattan Inspire Award for “Best Wallcoverings/Wall Treatment” at Boutique Design New York (BDNY) 2024, the leading trade fair and conference for boutique hotel design, which took place November 10-11 in New York City’s Jacob K. Javits Convention Center. Produced by the NKBA-Manhattan Chapter and sponsored by aspire design and home magazine, the Inspire awards recognize the most innovative and exciting exhibitors at this important event, with a focus on all the categories beyond kitchen and bath that inspire designers to do their best work. The winners were selected by NKBA Programs Co-chair Diana Mosher and a panel of esteemed judges based on a variety of criteria, including functional, sustainable, and aesthetic considerations.

DG DIMENSE, a Roland DG Group company, offers revolutionary digital printing technology that allows users to produce one-of-a-kind textured wallcoverings, wall art, and other interior design elements, as well as eye-catching signage, displays, packaging, and more. Centered around the advanced Dimensor S (which Roland DGA demonstrated at BDNY 2024), this patented solution combines a specialized inket printer, proprietary media, and specially formulated water-based inks to create 3D textured prints and full-color graphics in a single, seamless process. This sustainable, eco-friendly process is made possible by the unique interaction of the ink and media when heated to create a controllable raised surface. The printed images and graphics can foam up to 1.5 mm in height and 1.58 m in width, creating stunning visual and tactile effects.

“We are thrilled about receiving this prestigious award,” said Roland DGA’s Business Development and Co-Creation Manager, Kitt Jones. “DG DIMENSE represents the evolution of surface art, giving users the ability to design non-repeatable texture by controlling and manipulating the surface structure rather than laying ink, thus minimizing cost, reducing print times, and adding a new and exciting dimension to traditional printing.”

To learn more about BDNY and the NKBA Manhattan Inspire Awards, or to view a complete list of winners, visit https://aspiremetro.com/winners-nkba-manhattan-inspire-awards-bdny. For more information on DG DIMENSE and the Dimensor S texture printer, visit https://www.rolanddga.com/products/printers/dimensor-s-printer.

About Roland DG Americas

Roland DGA serves North and South America as the marketing, sales, distribution, and service arm for Roland DG Corporation. Founded in 1981 and listed on the Tokyo Stock Exchange, Roland DG of Hamamatsu, Japan is a worldwide leader in wide-format inkjet printers for the sign, apparel, textile, interior design, personalization, and vehicle graphics markets; engravers for awards, giftware and ADA signage; photo impact printers for direct part marking; and 3D printers and CNC milling machines for the dental CAD/CAM, rapid prototyping, part manufacturing and medical industries. To learn more about Roland DGA or Roland DGA’s complete product line, visit https://www.rolanddga.com.

About BDNY

The Boutique Design New York (BDNY) is the leading trade fair and conference for boutique hotel design. A curated and creative event, BDNY brings designers, architects, purchasing agents, hoteliers, owners, and developers together with inventive manufacturers of interior design elements for hospitality. It’s a celebration of not only the latest design trends, but also the visionaries and creators shaping the future of hospitality. To learn more about BDNY, visit https://bdny.com.

Media Contact

Marc Malkin, Roland DGA Corporation, 800-542-2307,mmalkin@rolanddga.com, https://www.rolanddga.com

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SOURCE Roland DGA Corporation

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NASA Leadership to Visit, Strengthen Cooperation with Mexico

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November 22, 2024

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WASHINGTON, Nov. 22, 2024 /PRNewswire/ — NASA Deputy Administrator Pam Melroy and Nicola Fox, associate administrator for NASA’s Science Mission Directorate, will travel to Mexico City on Sunday, Nov. 24, for a multi-day trip to build on previous engagements and advance scientific and technological collaboration between the United States and Mexico.

This visit will focus on fostering partnerships in astronomy and astrophysics research, as well as highlighting opportunities for economic, educational, and science, technology, engineering, and math collaborations between the two nations.

Melroy’s trip will include high-level meetings with senior Mexican government officials, including the secretariat-designate for Science, Technology, Humanities, and Innovation. Melroy and Fox also will meet with leaders from academia, industry, and scientific institutions. These discussions will emphasize expanding cooperation in space science, with particular focus on Mexico’s growing astronomy programs.

This visit builds on Melroy’s trip to Mexico City earlier this year and reflects NASA’s commitment to advancing international cooperation in space and science for the benefit of all.

For more information about NASA’s international partnerships, visit:

https://www.nasa.gov/oiir

View original content to download multimedia:https://www.prnewswire.com/news-releases/nasa-leadership-to-visit-strengthen-cooperation-with-mexico-302314627.html

SOURCE NASA

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