September 20, 2021

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Repeats 10 percent growth target and hires a new CFO

Repeats 10 percent growth target and hires a new CFO

Mintra Holdings increased operating revenue by NOK 4.2 million in the second quarter, to NOK 61.8 million, and achieved NOK 18.1 million (EBITDA) accompanying. Excluding acquisition costs, EBITDA was 20.2 million, with an adjusted EBITDA margin of 33 percent.

In the first half of the year, operating revenue was 121.9 million, up seven percent from the first half of last year, and up three percent on a pro forma basis, including Seabridge in the first half of last year. In the first six months of the year, EBITDA was 28.5 million, while EBITDA excluding acquisition costs ended at 34.8 million, with an adjusted EBITDA margin of 29%.

The numbers include the acquisition of Safebridge in the first quarter.

Kevin Short, CEO of Mintra, said in a stock exchange announcement.

  • Software management systems for managing personnel in sensitive security industries.
  • The company provides solutions to a number of industries such as marine operations, construction, oil and gas, and the renewable industry.

Repeats goals and appoints a new manager

Mintra reiterates its revenue growth target of 10% or more in 2021, with EBITDA margins of 35-40% excluding acquisition costs and associated restructuring costs.

Over the medium term, the company aims for organic growth of 15 percent or more, supported more by mergers and acquisitions, and EBITDA margins of more than 40 percent.

A separate stock exchange announcement also states that the company has appointed Torbjørn Blom-Hagen as the company’s new chief financial officer. He will take office on September 13.

Blom-Hagen has more than 20 years of experience in the financial sector, strategy, projects, and mergers and acquisitions. He came from the position of CFO of ELOP.