CEO
"In the period
- Growth in annual recurring revenue (ARR) of 70%
- Top line revenue growth of 47%, reaching 98% of adjusted budget
- Top line revenue growth of 51% in the second half of the year (1/1-30/6 2023)
- EBITDA of TDKK -14,359 vs adjusted budget EBITDA of TDKK -20,300
- Result of TDKK -17,325 vs adjusted budget of TDKK -22,635
- Cash receipts of TDKK 29,374 vs last year TDKK 17,657, an increase of 66%
We view our growth rates in annual recurring revenue (ARR) and revenue as solid and as a testament to our business model. While maintaining these solid growth rates, the Company has continued to focus on profitability by optimizing resources spent, and can report a better than budgeted EBITDA (+29%) and result (+23%)
During the Period the Company signed long-term agreements with several large international brands. These solutions were implemented late in the Period, and some are yet to be implemented, therefore these did not have any substantial financial effect in the Period. Programs were implemented for or signed with among others:
- Emirates Skywards, the loyalty program of Emirates, one of the worlds most recognized brands
Qatar Airways Privilege Club , a loyalty program of the world's largest airline groupMarriott Bonvoy , a world leading hospitality loyalty program- NAF (
Norwegian Auto Association ), building on the already running successful program of FDM, theDanish Auto Association - Visa
Germany , launching innovative solution forVisa credit card holder to earn extra rewards globally
During the Period our pipeline grew at the expected rate and while lead times remain long, our expanding list of large global reference clients (*) generates additional interest inLoyal Solutions as a company. Our cooperation withVisa for the Visa VMLS product has also progressed as expected.The Company`s LoyalTfacts® platform and SaaS based card-linking-technology enables these market leading loyalty programs to go to the next level in customer engagement.
(*) - Accor All, a leading global hospitality loyalty program across 30+ brands and over 5.000 hotels
SAS ,Scandinavian Airlines , the top performing loyalty program across the NordicsEtihad Guest , the award-winning loyalty program ofEtihad Airways - Darna by Aldar, loyalty program across 20 malls
Qatar Airways Privilege Club , a market leading global loyalty program- Air Canada Aeroplan, the leading loyalty program in
Canada Marriott Bonvoy , the world's largest hospitality loyalty program- Emirates Skywards, the loyalty program of Emirates
Our current clients' implemented programs continued to perform well during the Period, further validating the resilience of our SaaS business model, and proving the inherent long term growth potential in SaaS card-linked loyalty programs. While at different stages of maturity, all current programs achieved a better-than-expected growth rate year-on-year, and with several clients now expanding to other countries, we have a firm client base on which to build future growth.
Our most important resource, our employees, continued to do an outstanding job. Despite being quite busy, we have maintained our focus on work-life balance, inclusivity and on providing flexible working hours and locations. Our IT hub in
We truly believe in putting employees first and that "team is everything", so a big thank you to everyone at
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HIGHLIGHTS FOR THE SECOND HALF YEAR 1/1-30/6 2023
Business and operational highlights
During the second half of financial year 2022/23 the Company reached several milestones including:
- ARR (annual recurring revenue) growth of 70% for the year
- Revenue growth of 47% for the year, 51% for the second half year
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Launched program for Emirates Skywards in
May 2023 -
Launched program for
Qatar Airways inMay 2023 -
Signed a global long-term agreement with
Marriott Bonvoy , one of the largest global loyalty programs -
Signed long term agreement with NAF,
Norway's auto association and the largest loyalty program inNorway -
The Company`s LoyalTfacts® technology won yet another reward together with
Etihad Guest -
Continued building our pipeline on direct sales as well as via our partnership with
Visa -
Added BankAxept (
Norway ) to the list of payment networks LoyalTfacts® has pre-installed -
Work started on integrating LoyalTfacts® to eftpos, a leading payments processor in
Australia and New Zealand - Delivered a range of platform upgrades, making program management even easier for our clients
- Passed our annual PCI DSS Level 1 audit
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Conference call to present second half of financial year 2022/23
To participate, please join the conference call on thislink..
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The audited annual report for The Period will be made public on our website under "reports and presentations" on the
This financial report constitutes inside information that
For further information about the Company, please contact
Phone: +45 21 28 69 60
E-mail: pki@loyalsolutions.eu
Website: www.loyalsolutions.eu
Certified Adviser
Phone: +46 (0) 11 32 30 732
E-mail: ca@skmg.se
We have our HQ in
https://news.cision.com/loyal-solutions-a-s/r/loyal-solutions-announces-second-half-year-results-for-1-1-30-06-2023,c3818137
https://mb.cision.com/Main/20251/3818137/2247943.pdf
https://news.cision.com/loyal-solutions-a-s/i/technology-2,c3206209
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