Konsolidator realized exponential growth for the third consecutive quarter

28 July 2020 - 10:18

Company announcement no 16-2020

July 28, 2020

Financial report for the period January 1 to June 30, 2020


In the outlook for 2020 two main goals were announced: An Annual Recurring Revenue (ARR) increase higher than 2019 (71%) and an exponential growth in number of new customers on a quarter-on-quarter basis:

  • ARR: Konsolidator reached an ARR of DKK 6.1m at the end of H1, 2020 compared to 3.2m at the end of H1, 2019 – an increase of 91 %
  • Customers: Konsolidator signed 33 contracts in H1, 2020 compared to 15 in H1, 2019 – an increase of 120 %
  • Customers: For Q2 Konsolidator signed 18 contracts compared to 8 for Q2 in 2019 - an increase of 125 %
  • Konsolidator issued 750,000 new shares to an institutional investor and received DKK 29.6m in gross proceeds.


Roll out of Konsolidator’s platform and software

Konsolidator continues to see the effects of the digital marketing strategy during the first six months of 2020. The company experienced increased traffic on the Konsolidator website.

Konsolidator has experienced a faster than expected conversion from physical sales meetings to online meetings, which is important in our international expansion plans. Furthermore, the customer online onboardings have also increased faster than expected compared to the physical onboardings.

As per June 30, 2020 Konsolidator has 114 customers and 10 out of the 18 new customers signed in Q2, 2020 are outside Denmark.

Economic growth

Konsolidator reached an ARR of DKK 6.1m as per June 30, 2020 (2019: 3.2m) which is an increase in the last twelve months of 91%. The ARR increased by DKK 1.5m in H1, 2020 compared to an increase of DKK 0.6m in H1, 2019 an increase of 167%.

Revenue for the period amounted to DKK 3.1m compared to DKK 2.1m in 2019 corresponding to an increase of 48 %. Earnings before interest, tax, depreciation and amortization (EBITDA) amounted to a negative of DKK 6.7m compared to 2019 which showed a negative EBITDA of DKK 4.4m.

Organizational growth

During the first six months of 2020 Konsolidator hired three new employees. Konsolidator has 24 employees as of June 30, 2020.

About Konsolidator

Konsolidator is a cloud-based and standardized SaaS consolidation and reporting tool that automates consolidation and monthly reporting and delivers accurate and timely management information based on corporate key ratios. Konsolidator wants to make financial consolidation and reporting easier for small- and medium-sized groups. The time the groups save, and the quality data obtained when using Konsolidator's cloud-based tool means that the groups can make better decisions and thus deliver higher strategic value.

For further information: CEO Claus Finderup Grove, mobile. +45 2095 2988, e-mail:

Financial Calendar

  • October 27, 2020: Third quarter reporting, January – October 31, 2020
  • February 9, 2020: Annual report 2020

Konsolidator A/S 

Tobaksvejen 2A
2860 Søborg 

Certified Adviser 

Ernst & Young P/S
Osvald Helmuths Vej 4

2000 Frederiksberg  


Provided by: GlobeNewswire
Nasdaq First North Denmark (Denmark)
Konsolidator AS
Konsolidator AS is a cloud-based, best-of-breed, SaaS consolidation and reporting tool that standardizes and streamlines the consolidation process through simple innovative functionality....
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