Income Statement Techstep ASA

Stocks

TECH

NO0012916131

Software

Market Closed - Oslo Bors 10:45:00 2026-10-13 EDT			5-day change	1st Jan Change
2.060 ^NOK	-14.17%		-47.18%	-83.65%

09-25	Techstep Secures Sovereign Managed Endpoint Services Contract in Sweden	MT
09-25	Techstep ASA Receives Largest Individual Contract Ever In Sweden	CI

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Published financial data: TECHSTEP ASA

Annual

Quarterly

Halfyear

YTD

LTM

Fiscal Period: December	2021 (NOK)	2022 (NOK)	2023 (NOK)	2024 (NOK)	2025 (NOK)
Revenues	1.3B	1.32B	1.09B	1.07B	998M
Other Revenues, Total	1.9M	11K	521K	1.46M	3.09M
Total Revenues	1.31B	1.32B	1.09B	1.07B	1B
Cost of Goods Sold, Total	845M	863M	644M	626M	565M
Gross Profit	460M	460M	445M	447M	436M
Selling General & Admin Expenses, Total	236M	220M	168M	171M	185M
Depreciation & Amortization - (IS)	108M	109M	108M	114M	114M
Amortization of Goodwill and Intangible Assets - (IS)	54.72M	58.49M	64.92M	68.97M	99.5M
Other Operating Expenses	154M	154M	139M	123M	127M
Other Operating Expenses, Total	553M	542M	480M	476M	526M
Operating Income	-93.34M	-82.25M	-35.02M	-29.21M	-89.87M
Interest Expense, Total	-9.27M	-14.03M	-14.65M	-16.8M	-15.79M
Interest And Investment Income	1.37M	979K	1.1M	1.37M	550K
Net Interest Expenses	-7.9M	-13.05M	-13.55M	-15.44M	-15.24M
Income (Loss) On Equity Invest.	-	-	-	-	-
Currency Exchange Gains (Loss)	-328K	1.08M	-5.55M	-279K	2.43M
Other Non Operating Income (Expenses)	0	-1K	-3.96M	-79K	-919K
EBT, Excl. Unusual Items	-102M	-94.21M	-58.08M	-45.01M	-104M
Restructuring Charges	-	-	-1.97M	-	-
Merger & Related Restructuring Charges	-10.12M	-604K	-	-	-
Impairment of Goodwill	-	-	-	-	-
Gain (Loss) On Sale Of Investments	-	-	-	-	-
Gain (Loss) On Sale Of Assets	-	40.06M	-	238K	-
Other Unusual Items	-7.07M	-9.41M	494K	-5.68M	75K
EBT, Incl. Unusual Items	-119M	-64.17M	-59.55M	-50.44M	-104M
Income Tax Expense	-16.09M	4.44M	-15.01M	-4.75M	-9K
Earnings From Continuing Operations	-103M	-68.61M	-44.55M	-45.7M	-104M
Net Income to Company	-103M	-68.61M	-44.55M	-45.7M	-104M
Minority Interest	-390K	-312K	-	-	-
Net Income - (IS)	-103M	-68.93M	-44.55M	-45.7M	-104M
Net Income to Common Incl Extra Items	-103M	-68.93M	-44.55M	-45.7M	-104M
Net Income to Common Excl. Extra Items	-103M	-68.93M	-44.55M	-45.7M	-104M
Per Share Items
Net EPS - Basic	-5.46	-2.52	-1.43	-1.42	-3.01
Basic EPS - Continuing Operations	-5.46	-2.52	-1.43	-1.42	-3.01
Basic Weighted Average Shares Outstanding	18.87M	27.31M	31.09M	32.21M	34.41M
Net EPS - Diluted	-5.5	-2.52	-1.43	-1.42	-3.01
Diluted EPS - Continuing Operations	-5.5	-2.52	-1.43	-1.42	-3.01
Diluted Weighted Average Shares Outstanding	18.87M	27.35M	31.09M	32.21M	34.41M
Normalized Basic EPS	-3.39	-2.17	-1.17	-0.87	-1.88
Normalized Diluted EPS	-3.39	-2.16	-1.17	-0.87	-1.88
Supplemental Items
EBITDA	56.17M	71.7M	123M	142M	78.76M
EBITA	-38.61M	-23.76M	29.89M	39.76M	-24.28M
EBIT	-93.34M	-82.25M	-35.02M	-29.21M	-89.87M
EBITDAR	-	-	-	-	-
Total Revenues (As Reported)	1.31B	1.32B	1.09B	1.07B	1B
Effective Tax Rate - (Ratio)	13.55	-6.93	25.2	9.41	0.01
Total Current Taxes	2.77M	5.43M	1.87M	2.15M	387K
Total Deferred Taxes	-18.86M	-981K	-16.87M	-6.9M	-397K
Normalized Net Income	-63.87M	-59.19M	-36.3M	-28.13M	-64.75M
Interest on Long-Term Debt	1.25M	1.18M	1.45M	1.76M	1.9M
Supplemental Operating Expense Items
Net Rental Expense, Total	-	-	-	-	-
Imputed Operating Lease Interest Expense	-	-	-	-	-
Imputed Operating Lease Depreciation	-	-	-	-	-
Stock-Based Comp., Other (Total)	3.95M	4.09M	-1.01M	3.7M	3.34M
Total Stock-Based Compensation	3.95M	4.09M	-1.01M	3.7M	3.34M

Fiscal Period: December	2021 (NOK)	2022 (NOK)	2023 (NOK)	2024 (NOK)	2025 (NOK)
Assets
Cash And Equivalents	50.35M	61.12M	77.46M	30.78M	9.31M
Total Cash And Short Term Investments	50.35M	61.12M	77.46M	30.78M	9.31M
Accounts Receivable, Total	239M	223M	161M	144M	139M
Other Receivables	12.1M	6.96M	-	-	4.55M
Total Receivables	252M	230M	161M	144M	144M
Inventory	19.39M	23.43M	10.5M	4.66M	1.34M
Prepaid Expenses	10.1M	17.18M	28.51M	27.86M	26.94M
Other Current Assets, Total	24.48M	-	-	-	159M
Total Current Assets	356M	332M	278M	207M	340M
Gross Property Plant And Equipment	387M	433M	419M	354M	350M
Accumulated Depreciation	-208M	-235M	-228M	-155M	-179M
Net Property Plant And Equipment	179M	198M	191M	199M	171M
Long-term Investments	590K	608K	695K	45K	45K
Goodwill	593M	601M	624M	632M	495M
Other Intangibles, Total	183M	182M	161M	125M	90.99M
Loans Receivable Long-Term	-	-	-	-	-
Deferred Tax Assets Long-Term	2.15M	6.47M	13.09M	14.12M	7.2M
Other Long-Term Assets, Total	1.22M	2.66M	3.22M	124K	5.33M
Total Assets	1.31B	1.32B	1.27B	1.18B	1.11B
Liabilities
Accounts Payable, Total	194M	206M	198M	176M	163M
Accrued Expenses, Total	93.99M	101M	66.86M	47.11M	-
Short-term Borrowings	21.92M	27.76M	30M	10M	20M
Current Portion of Long-Term Debt	52.63M	55.56M	18.75M	15M	144M
Current Portion of Leases	10.63M	15.14M	10.81M	10.9M	7.81M
Current Income Taxes Payable	653K	3.32M	599K	1.84M	-
Unearned Revenue Current, Total	151M	171M	17.14M	18.05M	-
Other Current Liabilities	79.4M	23.62M	171M	150M	228M
Total Current Liabilities	604M	603M	513M	429M	563M
Long-Term Debt	97.4M	90.66M	134M	116M	1.11M
Long-Term Leases	-	-	15.92M	15.79M	9.51M
Unearned Revenue Non Current	-	-	-	-	-
Deferred Tax Liability Non Current	14.64M	20.54M	14.67M	7.23M	2.49M
Other Non Current Liabilities	43.31M	37.56M	19.31M	39.48M	48.14M
Total Liabilities	759M	752M	697M	607M	624M
Common Stock, Total	210M	305M	31.63M	34.41M	34.41M
Additional Paid In Capital	706M	718M	979M	1B	1B
Treasury Stock	-1.91M	-1.91M	-	-	-
Comprehensive Income and Other	-359M	-449M	-437M	-469M	-554M
Total Common Equity	554M	572M	574M	571M	485M
Minority Interest	1.27M	-	-	-	-
Total Equity	556M	572M	574M	571M	485M
Total Liabilities And Equity	1.31B	1.32B	1.27B	1.18B	1.11B
Supplemental Items
ECS Total Shares Outstanding on Filing Date	20.96M	30.51M	31.63M	34.41M	34.87M
ECS Total Common Shares Outstanding	20.96M	30.51M	31.63M	34.41M	34.41M
Book Value / Share	26.44	18.73	18.14	16.58	14.1
Tangible Book Value	-221M	-212M	-211M	-186M	-101M
Tangible Book Value Per Share	-10.56	-6.94	-6.69	-5.41	-2.93
Total Debt	183M	189M	209M	167M	182M
Net Debt	132M	128M	132M	137M	173M
Debt Equivalent Oper. Leases	-	-	-	-	-
Minority Interest, Total (Incl. Fin. Div)	1.27M	-	-	-	-
Equity Method Investments, Total	-	-	-	-	-
Account Code - Inventory Valuation	3	3	3	3	3
Inventories - Others	20.07M	24.47M	10.79M	4.66M	-
Machinery, Total	292M	338M	323M	307M	316M
Full Time Employees	341	312	263	252	258
Part Time Employees	6	3	4	5	4
Accumulated Allowance for Doubtful Accounts (Supple)	1.88M	1.79M	1.36M	1.33M	2.43M

Fiscal Period: December	2021 (NOK)	2022 (NOK)	2023 (NOK)	2024 (NOK)	2025 (NOK)
Net Income	-103M	-68.93M	-44.55M	-45.7M	-104M
Depreciation & Amortization - CF	108M	109M	108M	114M	114M
Amortization of Goodwill and Intangible Assets - (CF)	54.72M	58.49M	64.92M	68.97M	65.59M
Depreciation & Amortization, Total	163M	168M	173M	183M	179M
(Gain) Loss From Sale Of Asset	-	-42.64M	-9.27M	-9.87M	-12.35M
(Gain) Loss on Sale of Investments - (CF)	-	-	-	-	-
Asset Writedown & Restructuring Costs	-	-	-	-	33.91M
(Income) Loss On Equity Investments - (CF)	-	-	-	-	-
Stock-Based Compensation (CF)	3.95M	4.09M	-1.01M	3.7M	3.34M
Other Operating Activities, Total	-7.16M	16.57M	4.64M	5.35M	12.8M
Change in Other Net Operating Assets	72.24M	46.94M	33.22M	176K	-1.12M
Cash from Operations	129M	124M	156M	136M	113M
Capital Expenditure	-141M	-132M	-113M	-128M	-100M
Sale of Property, Plant, and Equipment	27.39M	3.5M	17.07M	13.41M	27.58M
Cash Acquisitions	-78.76M	294K	-	-	-
Divestitures	65.68M	-	-	-	-
Sale (Purchase) of Intangible assets	-48.88M	-52.25M	-33.92M	-29.52M	-49.93M
Investment in Marketable and Equity Securities, Total	-	-	-	-	-
Other Investing Activities, Total	1.37M	531K	1.07M	1.37M	550K
Cash from Investing	-175M	-180M	-129M	-143M	-122M
Long-Term Debt Issued, Total	35.14M	55.77M	178M	-	40M
Total Debt Issued	35.14M	55.77M	178M	-	40M
Short Term Debt Repaid, Total	-	-	-31.2M	-	-
Long-Term Debt Repaid, Total	-58.02M	-44.44M	-145M	-53.49M	-28.77M
Total Debt Repaid	-58.02M	-44.44M	-176M	-53.49M	-28.77M
Issuance of Common Stock	102M	76.97M	230K	28.39M	-
Other Financing Activities, Total	-7.73M	-20.7M	-14.94M	-15.19M	-13.95M
Cash from Financing	71.24M	67.59M	-12.73M	-40.29M	-2.72M
Foreign Exchange Rate Adjustments	-2.43M	-191K	2.02M	-57K	-1.4M
Miscellaneous Cash Flow Adjustments	-	1K	-	-	-1K
Net Change in Cash	23.15M	10.77M	16.34M	-46.68M	-13.61M
Supplemental Items
Cash Interest Paid	7.73M	11.7M	14.94M	15.19M	13.95M
Cash Income Tax Paid (Refund)	1.47M	996K	2.39M	961K	-
Levered Free Cash Flow	45.01M	-52.51M	13.72M	-36.69M	-189M
Unlevered Free Cash Flow	50.8M	-43.74M	22.87M	-26.19M	-179M
Change In Net Working Capital	-133M	-20.56M	-19.91M	36.85M	156M
Net Debt Issued / Repaid	-22.88M	11.33M	1.98M	-53.49M	11.23M

Fiscal Period: December	2021 (NOK)	2022 (NOK)	2023 (NOK)	2024 (NOK)	2025 (NOK)
Profitability
Return on Assets	-4.64	-3.9	-1.69	-1.49	-4.91
Return on Total Capital	-7.73	-6.86	-2.81	-2.4	-7.99
Return On Equity %	-18.35	-12.18	-7.78	-7.99	-19.61
Return on Common Equity	-18.45	-12.24	-7.78	-7.99	-19.61
Margin Analysis
Gross Profit Margin %	35.23	34.78	40.85	41.68	43.53
SG&A Margin	18.06	16.66	15.46	15.92	18.51
EBITDA Margin %	4.3	5.42	11.33	13.26	7.87
EBITA Margin %	-2.96	-1.8	2.74	3.71	-2.43
EBIT Margin %	-7.15	-6.22	-3.21	-2.72	-8.98
Income From Continuing Operations Margin %	-7.87	-5.19	-4.09	-4.26	-10.34
Net Income Margin %	-7.9	-5.21	-4.09	-4.26	-10.34
Net Avail. For Common Margin %	-7.9	-5.21	-4.09	-4.26	-10.34
Normalized Net Income Margin	-4.89	-4.47	-3.33	-2.62	-6.47
Levered Free Cash Flow Margin	3.45	-3.97	1.26	-3.42	-18.91
Unlevered Free Cash Flow Margin	3.89	-3.31	2.1	-2.44	-17.93
Asset Turnover
Asset Turnover	1.04	1	0.84	0.88	0.88
Fixed Assets Turnover	7.4	7.02	5.6	5.49	5.41
Receivables Turnover (Average Receivables)	5.68	5.72	5.56	7.03	7.06
Inventory Turnover (Average Inventory)	35.56	40.31	37.98	82.5	188.37
Short Term Liquidity
Current Ratio	0.59	0.55	0.54	0.48	0.6
Quick Ratio	0.5	0.48	0.46	0.41	0.27
Operating Cash Flow to Current Liabilities	0.21	0.21	0.3	0.32	0.2
Days Sales Outstanding (Average Receivables)	64.22	63.85	65.62	52.06	51.69
Days Outstanding Inventory (Average Inventory)	10.27	9.06	9.61	4.44	1.94
Average Days Payable Outstanding	75.98	84.12	116.79	110.49	110.02
Cash Conversion Cycle (Average Days)	-1.49	-11.21	-41.57	-53.99	-56.39
Long Term Solvency
Total Debt/Equity	32.86	33.09	36.52	29.32	37.55
Total Debt / Total Capital	24.73	24.86	26.75	22.67	27.3
LT Debt/Equity	17.53	15.86	26.13	23.03	2.19
Long-Term Debt / Total Capital	13.2	11.92	19.14	17.81	1.59
Total Liabilities / Total Assets	57.74	56.81	54.86	51.54	56.27
EBIT / Interest Expense	-10.07	-5.86	-2.39	-1.74	-5.69
EBITDA / Interest Expense	7.51	6.09	9.38	9.14	5.67
(EBITDA - Capex) / Interest Expense	-7.74	-3.35	1.69	1.52	-0.67
Total Debt / EBITDA	2.62	2.21	1.52	1.09	2.03
Net Debt / EBITDA	1.9	1.5	0.96	0.89	1.93
Total Debt / (EBITDA - Capex)	-2.54	-4.03	8.46	6.55	-17.14
Net Debt / (EBITDA - Capex)	-1.84	-2.72	5.33	5.35	-16.26
Growth Over Prior Year
Total Revenues, 1 Yr. Growth %	14.19	1.38	-14.46	-1.55	-6.67
Gross Profit, 1 Yr. Growth %	21.54	0.07	-3.28	0.45	-2.53
EBITDA, 1 Yr. Growth %	-30.89	27.65	72.09	15.23	-44.6
EBITA, 1 Yr. Growth %	-564.82	-38.48	-225.83	32.99	-161.09
EBIT, 1 Yr. Growth %	376.57	-11.88	-57.42	-16.58	207.63
Earnings From Cont. Operations, 1 Yr. Growth %	335.78	-33.16	-35.08	2.58	126.52
Net Income, 1 Yr. Growth %	316.43	-33.11	-35.37	2.58	126.52
Normalized Net Income, 1 Yr. Growth %	270.93	-7.32	-38.68	-22.5	130.17
Diluted EPS Before Extra, 1 Yr. Growth %	266.67	-54.11	-52.85	-0.88	110.11
Accounts Receivable, 1 Yr. Growth %	9.27	-6.69	-30.06	-10.89	-3.16
Inventory, 1 Yr. Growth %	-31.14	20.83	-55.18	-55.6	-71.28
Net Property, Plant and Equip., 1 Yr. Growth %	3.13	10.62	-3.56	4.4	-14.4
Total Assets, 1 Yr. Growth %	9.63	0.66	-3.97	-7.35	-5.79
Tangible Book Value, 1 Yr. Growth %	29.73	-4.33	-0.19	-11.97	-45.81
Common Equity, 1 Yr. Growth %	-1.47	3.1	0.38	-0.54	-14.99
Cash From Operations, 1 Yr. Growth %	67.54	-4.02	25.71	-12.26	-17.56
Capital Expenditures, 1 Yr. Growth %	30.14	-6.32	-14.89	13.62	-21.76
Levered Free Cash Flow, 1 Yr. Growth %	-335.53	-216.66	-126.12	-367.5	415.96
Unlevered Free Cash Flow, 1 Yr. Growth %	-441.04	-186.11	-152.29	-214.49	585.21
Compound Annual Growth Rate Over Two Years
Total Revenues, 2 Yr. CAGR %	7.37	7.6	-8.63	-8.23	-4.15
Gross Profit, 2 Yr. CAGR %	28.3	10.29	-1.62	-1.43	-1.05
EBITDA, 2 Yr. CAGR %	91.32	-6.07	48.21	40.82	-20.1
EBITA, 2 Yr. CAGR %	86.8	69.11	-12.01	29.36	-9.87
EBIT, 2 Yr. CAGR %	191.93	104.93	-38.74	-40.4	60.19
Earnings From Cont. Operations, 2 Yr. CAGR %	26.33	70.66	-34.13	-18.39	52.44
Net Income, 2 Yr. CAGR %	26.57	66.89	-34.25	-18.58	52.44
Normalized Net Income, 2 Yr. CAGR %	187.12	85.42	-24.61	-31.07	33.56
Diluted EPS Before Extra, 2 Yr. CAGR %	16.67	29.71	-48.96	-31.64	44.95
Accounts Receivable, 2 Yr. CAGR %	24.3	0.97	-17.97	-21.05	-7.11
Inventory, 2 Yr. CAGR %	28.04	-8.78	-26.41	-55.39	-64.29
Net Property, Plant and Equip., 2 Yr. CAGR %	26.56	6.81	3.29	0.34	-5.47
Total Assets, 2 Yr. CAGR %	26.84	5.05	-1.68	-5.68	-6.57
Tangible Book Value, 2 Yr. CAGR %	203.69	11.41	-2.28	-6.26	-30.93
Common Equity, 2 Yr. CAGR %	10.22	0.79	1.73	-0.08	-8.05
Cash From Operations, 2 Yr. CAGR %	58.88	26.8	9.84	5.02	-14.95
Capital Expenditures, 2 Yr. CAGR %	195.24	10.41	-10.71	-1.66	-5.72
Levered Free Cash Flow, 2 Yr. CAGR %	-15.8	65.77	-44.8	-16.41	271.51
Unlevered Free Cash Flow, 2 Yr. CAGR %	-12.26	71.36	-32.9	-22.63	180.08
Compound Annual Growth Rate Over Three Years
Total Revenues, 3 Yr. CAGR %	7.04	5.34	-1.58	-6.33	-7.72
Gross Profit, 3 Yr. CAGR %	16.02	18.1	5.57	-0.93	-1.8
EBITDA, 3 Yr. CAGR %	21.65	67.18	14.93	36.28	3.18
EBITA, 3 Yr. CAGR %	9.44	29	53.24	0.98	0.74
EBIT, 3 Yr. CAGR %	106.87	95.83	21.38	-32.1	3
Earnings From Cont. Operations, 3 Yr. CAGR %	68.84	2.17	23.66	-23.65	14.69
Net Income, 3 Yr. CAGR %	70.79	2.33	21.65	-23.74	14.52
Normalized Net Income, 3 Yr. CAGR %	153.42	96.96	28.22	-23.92	3.03
Diluted EPS Before Extra, 3 Yr. CAGR %	61.74	-14.52	-1.52	-36.32	-0.31
Accounts Receivable, 3 Yr. CAGR %	17.78	12.97	-9.74	-15.67	-15.49
Inventory, 3 Yr. CAGR %	6.28	25.59	-28.02	-37.81	-61.48
Net Property, Plant and Equip., 3 Yr. CAGR %	167.28	21.01	3.23	3.66	-4.83
Total Assets, 3 Yr. CAGR %	19.33	17.43	1.95	-3.61	-5.71
Tangible Book Value, 3 Yr. CAGR %	169.28	106.64	7.4	-5.62	-21.91
Common Equity, 3 Yr. CAGR %	2.56	7.8	0.66	0.97	-5.32
Cash From Operations, 3 Yr. CAGR %	67.68	34.3	26.44	1.92	-3.12
Capital Expenditures, 3 Yr. CAGR %	129.55	101.37	1.24	-3.24	-8.88
Levered Free Cash Flow, 3 Yr. CAGR %	19.26	-6.13	-10.47	-6.59	53.33
Unlevered Free Cash Flow, 3 Yr. CAGR %	21.03	-12.81	15.37	-19.82	60.08
Compound Annual Growth Rate Over Five Years
Total Revenues, 5 Yr. CAGR %	17.88	10.88	0.47	-1.07	-2.62
Gross Profit, 5 Yr. CAGR %	22.26	14.89	8.61	9.86	2.87
EBITDA, 5 Yr. CAGR %	33.84	23.04	31.65	56.09	-0.63
EBITA, 5 Yr. CAGR %	25.97	-0.23	0.29	29.15	23.93
EBIT, 5 Yr. CAGR %	68.81	93.77	27.14	21.68	35.62
Earnings From Cont. Operations, 5 Yr. CAGR %	18.09	7.55	15.87	-6.61	34.45
Net Income, 5 Yr. CAGR %	20.56	7.61	16.58	-6.61	33.14
Normalized Net Income, 5 Yr. CAGR %	81.88	75.38	56.04	29.42	30.33
Diluted EPS Before Extra, 5 Yr. CAGR %	-3.29	-6.33	1.96	-18.87	14.95
Accounts Receivable, 5 Yr. CAGR %	23.53	7.36	1.91	-1.51	-8.7
Inventory, 5 Yr. CAGR %	15.28	2.49	-8.25	-16.99	-45.62
Net Property, Plant and Equip., 5 Yr. CAGR %	124.22	85.1	82.73	12.27	-0.34
Total Assets, 5 Yr. CAGR %	20.93	11.57	10.43	7.58	-1.55
Tangible Book Value, 5 Yr. CAGR %	43.5	26.99	79.52	50.62	-9.98
Common Equity, 5 Yr. CAGR %	18.71	4.91	2.23	4.57	-2.92
Cash From Operations, 5 Yr. CAGR %	33.09	28.98	41.58	21.72	7.89
Capital Expenditures, 5 Yr. CAGR %	221.76	114.81	57.35	51.18	-1.6
Levered Free Cash Flow, 5 Yr. CAGR %	21.22	54.66	-12.37	-10.39	58.19
Unlevered Free Cash Flow, 5 Yr. CAGR %	19.45	41.29	-4.41	-16.88	64.5