Financial Results for Fourth Quarter 2020

Volue reported revenues of NOK 240 million in the fourth quarter of 2020 and an EBITDA of NOK 30 million, of which recurring revenues amounted to 70 percent in the period.

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“Volue delivered a solid performance in the fourth quarter, driven by expansion in Europe, a robust order intake and improved margins. All three of Volue’s business segments continue to report good results, with a particularly strong contribution from the Energy segment, which posted 12 percent growth in the quarter,” says Trond Straume, Volue’s chief executive officer. “Furthermore, personnel and operational expenditures are growing lower than revenues, and we expect scale advantages will boost margin levels going forward.”

Volue reported revenues of NOK 240 million in the fourth quarter of 2020, up from NOK 206 million in the corresponding quarter last year, and an EBITDA of NOK 30 million, up 58 percent year-on-year. Recurring revenues represented 70 percent of the total turnover in the quarter, growing 17 percent to NOK 170 million year-on-year, while revenues from the Software as a Service offering amounted to 20 percent of the total.

”The fourth quarter saw continued ARR growth and sales closing above target. We will seek to accelerate ARR growth further through SaaS transformation going forward, as we offer wall-to-wall SaaS solutions and have already built up a customer base comprising the leading European energy companies,” Straume adds.

Volue was listed on Merkur Market 16 October 2020 after a successful private placement that raised NOK 500 million in gross proceeds. The company is preparing to list on the Oslo Stock Exchange over the course of the first half 2021.

Volue delivered a solid performance in the fourth quarter, driven by expansion in Europe, a robust order intake and improved margins

Trond Straume CEO, Volue

In November, Volue announced the acquisition of Likron GmbH to strengthen its position as the leading provider of algorithmic power trading solutions in Europe.

“The accretive acquisition of Likron will further strengthen our offering within power trading software in Europe. The Likron team pioneered algorithmic trading on the European Power Exchange and provides products that complement Volue’s power trading offering perfectly. By combining our joint capabilities, we will take the pole position in this rapidly growing and changing industry,” says Straume. “Volue intends to play an active role in the much-needed consolidation of the fragmented energy technology market going forward and has an active M&A pipeline.”

Volue offers business-critical software and solutions for the energy, power grid and infrastructure markets, contributing to the green energy transition for power producers and distributors. The ambition is to help customers accelerate the shift to renewable energy by enabling full integration of the green energy value chain.

“Volue’s operations have been largely unaffected by the Covid-19 pandemic and the market outlook is positive. We’re on track to reach our target of NOK 1 billion in run-rate sales this year,” says Straume. “Volue reiterates the ambition of creating a NOK 2 billion revenue company by 2025, with EBITDA margins towards 30 percent.”

Volue will present its fourth quarter 2020 report on Friday 12 February 2020 at 09:00 CET. The investor presentation will be streamed live and be hosted by Trond Straume, chief executive officer, and Arnstein Kjesbu, chief financial officer. The presentation will be held in English and questions can be submitted throughout the event. The streaming event is available through:

The presentation is scheduled to conclude at 09:45 CET.


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