Q4 2024 Report and Presentation

Otovo's Q4 2024 Results: A new Otovo emerges

Otovo’s forth quarter results for 2024 are released today. Here are the highlights:

  1. Cost cuts complete Cut 111 FTEs in Q4, bringing total headcount reduction to 208 since Q1 24, and reduced Opex below NOKm 100.

  2. Portfolio sale complete European subscription portfolio sold, freeing up NOKm 155.

  3. Solid for 2025-26 Lower cost, strengthened liquidity and improved cash flow structure.

  4. Battery sales in progress Batteries included in 65% of customer contracts, a new record high and a new growth vector.

Please find attached the quarterly report. The presentation will be held by Andreas Thorsheim (CEO) and Petter Ulset (CFO) on webcast at 09:00 February 24th.

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