30.11.2022, Larvik, Norway | ABAX Group announces its Q3 2022 results. The Q3 report is available on the company website at: https://www.abax.com

Q3 highlights

MRR grew by 11% since Q3 2021 (LTM). Revenue for the quarter was 182,1 M NOK representing a growth of 6% from Q3 2021. Adjusted EBITDA was 66,7 M NOK for the quarter.

For more information please contact:

Morten Strand, CEO, ABAX
Email: morten.strand@abax.no
Phone: +47 415 35 316

John Ole Moe, interim Chief Financial Officer
Email: john.moe@abax.com
Mobile: +47 95 26 87 01

ABAX enables business insight and value from connected mobility data. By translating the customers' needs into advanced technology solutions, ABAX unlocks company data potential. ABAX is one of the largest IoT companies with solutions for mileage claim, tool tracking, and equipment control with over 500.000 tracked units all over the world. In 2020 ABAX started a journey expanding into developing mobility data solutions entering new verticals like insurance and leasing being the preferred data provider for the B2B industry on a wider scale. ABAX solutions help our customers run their businesses smarter and healthier, making it easy for them to improve efficiency, comply with legislation, and increase profitability. We operate across Europe, with over 350 employees working from our facilities in Norway, Sweden, Denmark, Finland, the Netherlands, Belgium, Poland, and the UK. Our Head Office is in Larvik, Norway.