Volue Publishes Its 2020 Annual Report

Volue hereby publishes its Annual Report, ESG Report and Corporate Governance Report for 2020

Volue Annual Report 2020

Highlights of 2020

· Revenues amounted to NOK 892 million for 2020, up 12 per cent from 2019

· Solid operational performance and revenue growth in all business segments

· EBITDA ended at NOK 148 million, a margin of 17 per cent

· Successful listing on Euronext Growth Oslo in October 2020

· Acquisition of leading algorithmic trading provider Likron GmbH in November 2020

Click here to read the full report

Reflecting on 2020, Volue’s CEO Trond Straume said:

"The Covid-19 pandemic placed an unprecedented stress test on every company in the world. Yet Volue’s 600 employees across Europe rose to the challenge, working tirelessly to ensure the continuity of our customers’ operations, while a safe work environment was provided for all. Their hard work enabled Volue to deliver solid results in 2020.”

“The trends that led us to establish Volue one year ago have by no means been diminished or derailed by the pandemic. The energy markets are changing at a breath-taking pace. Put simply: we’re entering a power market that is too complex for humans to manage on their own. The solution lies in a combination of digital technology and deep industry knowledge, which is what Volue provides, having pioneered green technology for over five decades. Our domain knowledge is an intrinsic part of our DNA, which makes us perfectly positioned to help our customers master disruption through digital transformation.”

“Creating Volue last year has given us an unrivalled coverage along the clean-energy value chain, from monitoring using sensors to realising cash in trading. And our impact goes beyond energy: Volue technology secures the availability of the core services society relies on – energy, water and infrastructure. Building on the success we’ve had in our home market, we’ve now earned the trust of more than 2000 customers across 40 countries.”

Trond Straume web

Creating Volue last year has given us an unrivalled coverage along the clean-energy value chain, from monitoring using sensors to realising cash in trading

Trond Straume CEO, Volue

“An important driver for listing Volue was the opportunity for structural growth in the energy market. We operate in a highly fragmented market composed of smaller, specialised players, that can’t fully support customers in their much-needed transition to renewable energy. That is why Volue aims to act as a consolidator in the market, and notably acquired leading algorithmic power trading software provider Likron GmbH in November. Likron, headquartered in Munich, Germany, will form the basis for Volue’s centre of excellence for trading solutions. The Likron team pioneered algorithmic trading on the European Power Exchange and provides products perfectly complementing Volue’s power trading offering. By combining our joint capabilities, we will take the pole position in this rapidly growing and changing industry.”

“Volue has clear ambitions for the future. We have a well-defined strategy and the financial strength needed to succeed. Our ambition is to create a NOK 2.0 billion revenue company by 2025, with EBITDA margins towards 30 per cent. An important goal for us this year, is to reach NOK 1.0 billion in run-rate sales. We aim to achieve this whilst maintaining a healthy

EBITDA margin, exceeding 20 per cent. Central to this growth strategy is to increase our recurring revenues through our ongoing SaaS transformation.”

“We will also step up our sustainability efforts. To this end, we have produced our first sustainability report, which you will find in this year’s annual report. The report describes our approach and performance on our most material environmental, social and governance issues for the 2020 financial year. It is a first step towards making our work on sustainability more transparent and in line with reporting standards. To operate in a sustainable manner is a given at Volue and a prerequisite for the company’s long-term results and value creation. We believe our company has a responsibility to our customers, employees, suppliers, and shareholders, as well as to the society that we operate within. We are committed to delivering value to them all. Sustainability is therefore not just an add-on to our corporate strategy. It resides at the core of our purpose.”

This announcement is subject to information pursuant to the Securities Trading Act § 5-12.