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Investor Relations

Scott Kerr

"We achieved a milestone during Q1 in completing our first acquisition post-listing – the maritime digital learning and crew competence management company, Safebridge. This is a significant move for Mintra in the maritime space: Safebridge has an excellent reputation in the industry and our combined presence has allowed us to rapidly increase our market share.

"The green shoots of recovery became evident in eLearning, with a pick-up in usage during Q1. Our revenues were 43% higher than in Q4 2020 on a Pro-forma basis and 16% higher than in Q2 2020. This cements our belief that revenues for eLearning, reduced in 2020 as our customers contended with travel restrictions, workforce layoffs, and reduced investment because of the Covid-19 pandemic, were not lost, but delayed.

"There was a quarter-on-quarter increase in profitability - IFRS before profit tax was NOK 0.9 million in Q1, in stark contrast to the Pro-forma loss before tax in Q1 2020 of NOK28.2 million – and we continue to see positive increments in our gross margin (88% in Q1 compared to 86% in Q4).

"In addition, we saw quarter-on-quarter operating expenditure (adjusting for listing and acquisition costs) reduced by NOK 3.7 million on a like-for-like basis, demonstrating a controlled and sustainable operating cost base. We remain on course to achieve the revenue growth of over 10%, along with an EBITDA margin of 35%-40% that we have predicted for 2021." Q1 2021 Report

Scott Kerr / CEO / Mintra

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Scott Kerr

Scott Kerr

CEO / Mintra

+47 992 83 890

Ian Mackie

CFO / Mintra

+44 1224 651340

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