As we enter 2021, the initial phase of cost synergies is almost achieved with a total of EUR 5.8 million in realized cost synergies with vwd Group. When we reach the end of Q1 2021, we will have reached total cost savings of EUR 6 million through combining better data-sourcing and various operational efficiencies.
Going forward the integration efforts will be even more customer oriented, and probably more demanding due to several interdependencies between projects. In many instances, this will require important investments in both capital and internal resource allocation. However, when we eventually reach the end of the tunnel, our product portfolio will be more tailored and better adapted for our pan-European growth ambitions” said Kristian Nesbak, CEO and founder of Infront.
Adjusted EBITDA was at EUR 6.2 million compared to EUR 4.8 million in Q4 2019. Reported EBITDA was EUR 5.7 million
(EUR 6.3 million).
Webcast:
Infront will present the Q4 2020 results at 10.00 CEST today hosted by CEO Kristian Nesbak and CFO Max Hofer via a Microsoft Teams Event. The presentation will be held in English.
Follow this link to access the webcast: https://bit.ly/3oQaOAh
There will be a Q&A session right after the presentation, please send questions to ir@infrontfinance.com or post them through Microsoft Teams. A recording of the presentation will be available on the website shortly after the webcast has ended.
For further information please contact:
Kristian Nesbak, CEO of Infront, +47 940 04 000
Max Hofer, CFO of Infront, +47 971 48 953
The interim report and presentation are also available on the investor relations pages at www.infrontfinance.com/investor-relations
Financial professionals across Europe and South Africa rely on Infront for flexible financial market solutions.
We offer a powerful combination of global market data, news, analytics and trading together with integrated solutions for data feeds, portfolio management and advisory, and regulatory compliance and calculations.
Our solutions serve 3,600 customers with over 90,000 professional users. With support for their complete workflow, financial professionals can manage investment decisions, reduce costs, adapt to fast-changing market requirements and work more efficiently with ever-increasing amounts of information – quickly, easily and flexibly.
More than 500 employees in 13 countries across Europe and South Africa apply their expertise to meet the challenges of our clients, ensuring they continuously receive the best solutions and services.
Infront is listed on the Oslo Stock Exchange.
Infront
Munkedamsveien 45
N0250 Oslo
Telefon: +47 (23) 3100-00
https://www.infront.co/de/en.html
CFO
Telefon: +47 (971) 48-953
E-Mail: max.hofer@infrontfinance.com
CEO Infront
E-Mail: kristian.nesbak@infrontfinance.com
