TECHSTEP ASA
Sector unknown·TECH · Oslo Børs·Fiscal year to 31/12/2024
Exposure profile
Derived from what the company itself writes. Empty directions mean the report doesn't mention themes of that type.
In their own words
Grouped by theme, from the management review in the annual report. A · The company itself is a verbatim quote, B · From the report is without a verified quote.
Circular economy and recycling
Regulation
DriverPositive impact: strengthens
“The market opportunity Mobile technology is one of the fastest growing technologies in the world, and digitalisation is leading this transformation, reshaping industries and work processes. Within the dynamic landscape of the mobile technology market, Techstep’s offering answers several key challenges that organisations face, including administration and control of the mobile technology infrastructure, cost reductions, sustainability and security concerns.”
Annual report 2024A · The company itself
DriverPositive impact: strengthens
“Additionally, the increasing focus on device sustainability and circularity, driven by stricter regulations and stakeholder demands, is set to disrupt the industry. 2 Market Guide for Managed Device Lice Cycle Services, July 2024 By 2028, 70% of organisations will adopt a managed device lifecycle offering, up from less than 20% in 2024.”
Annual report 2024A · The company itself
DriverNegative impact: weakens
“The scenario analysis indicates that Techstep, in the transition to a low emission society, will probably face increasing transition risks over time due to higher hardware costs from supply chain disruptions and stricter e-waste regulations. Risks identified over a short- and long-term period are compliance costs, material constraints and potential failure to adapt to a circular economy.”
Annual report 2024A · The company itself
StrategyPositive impact: strengthens
“A commitment to circular technology and security Sustainability remains at the core of our mission. In 2024, we strengthened our position as a leader in circular mobile technology by expanding our Device-as-a-Service (DaaS) offerings and promoting responsible device lifecycle management.”
Annual report 2024A · The company itself
StrategyPositive impact: strengthens
“At the same time, Techstep has opportunities in lifecycle management, circular economy solutions and sustainable mobile technology. Early adoption can provide a competitive edge and shifting regulations and customer demand will drive market expansion.”
Annual report 2024A · The company itself
Market
“We deliver a holistic device lifecycle management approach, covering every stage from procurement to recycling, helping organisations shift towards automation, cost reduction, and sustainability. Our end-to-end solutions support an increasingly modern and mobile workforce spanning both office workers and field workers in industries like retail, logistics, manufacturing and healthcare.”
Annual report 2024A · The company itself
Chains in: EU climate and energy policy strengthens
Digitalisation
Technology
DriverPositive impact: strengthens
“The market opportunity Mobile technology is one of the fastest growing technologies in the world, and digitalisation is leading this transformation, reshaping industries and work processes. Within the dynamic landscape of the mobile technology market, Techstep’s offering answers several key challenges that organisations face, including administration and control of the mobile technology infrastructure, cost reductions, sustainability and security concerns.”
Annual report 2024A · The company itself
DriverPositive impact: strengthens
“Techstep believes that the market for mobile and circular technology solutions and services will continue to increase due to digitalisation, stricter regulation and growing complexity alongside a rapidly evolving security threat landscape.”
Annual report 2024A · The company itself
Market
“We deliver a holistic device lifecycle management approach, covering every stage from procurement to recycling, helping organisations shift towards automation, cost reduction, and sustainability. Our end-to-end solutions support an increasingly modern and mobile workforce spanning both office workers and field workers in industries like retail, logistics, manufacturing and healthcare.”
Annual report 2024A · The company itself
Market
“By combining proprietary software, unique expertise and strong partnerships in the mobile ecosystem, we help businesses maximise the value of their mobile estate while enhancing security, efficiency, sustainability and user experience.”
Annual report 2024A · The company itself
Market
“Revenue from Own Software was NOK 118.2 million for the year, up 10.0% from NOK 107.5 million in 2023. The growth relates to the increased number of users and contracts.”
Annual report 2024A · The company itself
Chains in: Cybersecurity (products and services) strengthens, Public investment and infrastructure strengthens
Chains out: this strengthens IT consulting and public-sector IT
Cybersecurity (products and services)
Technology
DriverPositive impact: strengthens
“The market opportunity Mobile technology is one of the fastest growing technologies in the world, and digitalisation is leading this transformation, reshaping industries and work processes. Within the dynamic landscape of the mobile technology market, Techstep’s offering answers several key challenges that organisations face, including administration and control of the mobile technology infrastructure, cost reductions, sustainability and security concerns.”
Annual report 2024A · The company itself
Market
“By combining proprietary software, unique expertise and strong partnerships in the mobile ecosystem, we help businesses maximise the value of their mobile estate while enhancing security, efficiency, sustainability and user experience.”
Annual report 2024A · The company itself
Market
“In addition to our environmental initiatives, we made key advancements in cybersecurity to support our customers' needs. A major milestone in 2024 was obtaining ISO/IEC 27001:2022 certification, reinforcing our commitment to best-in-class information security management. Furthermore, we enhanced our third-party risk management through a new Governance, Risk and Compliance (GRC) tool, ensuring improved oversight of vendor security risks and compliance tracking.”
Annual report 2024A · The company itself
Chains in: Cyber attacks and IT security risk strengthens
Chains out: this strengthens Digitalisation
Public sector
End markets
Market
“While the company's primary market remains Scandinavia, where its full product portfolio is readily accessible through direct sales and partnerships with both private enterprises and the public sector, its strategic go-to-market focus extends across Europe, led from Poland.”
Annual report 2024A · The company itself
Market
“The commercial strategy includes increased focus on the public sector, both through upselling on existing agreements and by winning new tenders.”
Annual report 2024A · The company itself
Market
“Techstep has a large base of public sector and large corporate customers, which are less vulnerable to volatile market conditions.”
Annual report 2024A · The company itself
Industrial manufacturing
End markets
Market
“We deliver a holistic device lifecycle management approach, covering every stage from procurement to recycling, helping organisations shift towards automation, cost reduction, and sustainability. Our end-to-end solutions support an increasingly modern and mobile workforce spanning both office workers and field workers in industries like retail, logistics, manufacturing and healthcare.”
Annual report 2024A · The company itself
Market
“Techstep serves more than 2 100 enterprise customers across different industries and sectors, helping both office workers and frontline workers optimise their work.”
Annual report 2024A · The company itself
Subscription models
Technology
StrategyPositive impact: strengthens
“EBITA adjusted 39,756 29,892 EBIT (33,549) (36,498) Net profit (loss) for the period (45,696) (44,546) EBITDA adj. margin (%) 14.3 % 12.6 % EBITA adj. margin (%) 3.7 % 2.7 % EBIT margin (%) (3.1 %) (3.4 %) Net profit (loss) for the period (%) (4.3 %) (4.1 %) Cash flow from operating activites 136,484 155,560 Cash flow from investment activities (142,823) (128,514) Cash flow from financing activities (40,288) (12,730) Cash and cash equivalents 30,776 77,459 Net interest-bearing debt 108,540 101,218 Capex (29,520) (33,920) Employees 258 267 Board of Directors report Techstep is on a comprehensive transformation journey, going from a transactional hardware provider to a software-driven mobile technology enabler with a recurring services business model.”
Annual report 2024A · The company itself
StrategyPositive impact: strengthens
“Techstep’s ambitions for 2025, are to grow recurring revenues annualised by 15-25%, and achieve a net gross profit growth of 12-18% and an EBITA adj. conversion of 13-18%.”
Annual report 2024A · The company itself
Global trade volumes
Macro
StrategyPositive impact: strengthens
“This milestone follows the strategic partnership agreement entered in Q1 2024 with devicenow, a global provider of subscription-based IT devices, aimed at introducing Techstep’s Lifecycle management platform to a wider customer base worldwide. Devicenow, which has a global reach across 190 countries, serves several major global customers.”
Annual report 2024A · The company itself
Chains in: Tariffs and trade policy weakens, Geopolitical uncertainty weakens, Business cycle and GDP growth strengthens
Chains out: this strengthens Shipping and logistics
Healthcare and hospitals
End markets
Market
“The previously announced pilot project with Sykehuspartner is steadily progressing forward. The ambition is to deliver a completely managed mobility service, including devices, lifecycle management and managed services for all office and clinical devices in the Health South-East region. Several pilots have been rolled out to hospitals and departments, and Techstep aims to finalise the full scope of deliveries to fully manage business critical devices serving their 82 000 users in the region.”
Annual report 2024A · The company itself
Chains in: Ageing population strengthens, GLP-1 and obesity treatment mixed effect
Telecoms and 5G
Technology
Market
“Our indirect sales model with our Essentials MDM software is definitively a highlight to mention, growing year over year by 34% and adding new sales partners, like mobile operators and managed mobility players to our eco-system.”
Annual report 2024A · The company itself
ESG and sustainability reporting
Regulation
DriverPositive impact: strengthens
“Additionally, the increasing focus on device sustainability and circularity, driven by stricter regulations and stakeholder demands, is set to disrupt the industry. 2 Market Guide for Managed Device Lice Cycle Services, July 2024 By 2028, 70% of organisations will adopt a managed device lifecycle offering, up from less than 20% in 2024.”
Annual report 2024A · The company itself
DriverPositive impact: strengthens
“With new and stricter legislation and stakeholder pressure for sustainable and circular tech solutions, Techstep is experiencing a growing interest in its Device Lifecycle Management platform as IT service providers are looking for more sustainable and cost-efficient ways to manage their customers’ large device estates.”
Annual report 2024A · The company itself
DriverPositive impact: strengthens
“Techstep believes that the market for mobile and circular technology solutions and services will continue to increase due to digitalisation, stricter regulation and growing complexity alongside a rapidly evolving security threat landscape.”
Annual report 2024A · The company itself
Semiconductors and electronic components
Raw materials and inputs
DriverNegative impact: weakens
“Despite a downturn in the mobile device sales, the focus on transferring customers to a recurring revenue business model and high margin products and services started to yield results, and the annualized recurring revenue at the end of 2024 was NOK 330 million, vs. NOK 312 million at the end of 2023.”
Annual report 2024A · The company itself
DriverNegative impact: weakens
“Techstep’s total Mobile Devices & Other revenue came to NOK 747 million, a decline of 3.7% from 2023. Sales were impacted by a general decline in the global smartphone market, in both Norway and Sweden, in particular in the first half year.”
Annual report 2024A · The company itself
DriverNegative impact: weakens
“As the first half of 2024 was highly affected by the decline in device sales, 2024 closed with a 2% decrease in total revenues and net gross profit. However, the decline in revenues turned in the second half of 2024, and moving into 2025 recurring revenue contracts are record high.”
Annual report 2024A · The company itself
Chains in: Artificial intelligence strengthens
Business cycle and GDP growth
Macro
DriverNegative impact: weakens
“Macroeconomic and geopolitical risk The global economy has faced continually increasing challenges over the past years, with slowing growth and higher inflation in Techstep’s key markets, which may impact financial results and weaken the economic outlook.”
Annual report 2024A · The company itself
Chains out: this strengthens Global trade volumes, strengthens Construction
Climate change and extreme weather
Macro
DriverNegative impact: weakens
“Techstep is exposed to physical risks, especially in upstream manufacturing and data centre locations, including heavy precipitation, heatwaves, flooding, landslides and sea level rise.”
Annual report 2024A · The company itself
Chains out: this weakens Agriculture and food production
Currency exposure
Macro
DriverNegative impact: weakens
“Techstep is transforming itself from a transactional business model to a software-led recurring revenue model, which leads to postponed cash inflows, negatively affecting the liquidity of the Group.”
Annual report 2024A · The company itself
Cyber attacks and IT security risk
Macro
DriverNegative impact: weakens
“In addition, tension in the global political situation increases the risk of supply chain disruptions, sanctions, increasing cyber threats and risk of sabotage of critical infrastructure.”
Annual report 2024A · The company itself
Chains out: this strengthens Cybersecurity (products and services)
Geopolitical uncertainty
Macro
DriverNegative impact: weakens
“In addition, tension in the global political situation increases the risk of supply chain disruptions, sanctions, increasing cyber threats and risk of sabotage of critical infrastructure.”
Annual report 2024A · The company itself
Chains out: this strengthens Defence budgets, strengthens Energy security, strengthens Tariffs and trade policy, weakens Global trade volumes, strengthens Sea freight and freight rates, weakens Reconstruction of Ukraine
Inflation
Macro
DriverNegative impact: weakens
“Macroeconomic and geopolitical risk The global economy has faced continually increasing challenges over the past years, with slowing growth and higher inflation in Techstep’s key markets, which may impact financial results and weaken the economic outlook.”
Annual report 2024A · The company itself
Chains out: this weakens Consumer spending, strengthens Interest rates
Packaging regulation and deposit schemes
Regulation
DriverNegative impact: weakens
“The scenario analysis indicates that Techstep, in the transition to a low emission society, will probably face increasing transition risks over time due to higher hardware costs from supply chain disruptions and stricter e-waste regulations. Risks identified over a short- and long-term period are compliance costs, material constraints and potential failure to adapt to a circular economy.”
Annual report 2024A · The company itself
Semiconductor industry
End markets
InputNegative impact: weakens
“Central to its offering, are strategic partnerships with top-tier mobile device manufacturers and mobile technology software providers.”
Annual report 2024A · The company itself
Chains in: Artificial intelligence strengthens
Tariffs and trade policy
Macro
DriverNegative impact: weakens
“At the start of 2025 further uncertainties regarding the global economic and geopolitical order were introduced as the US is introducing new, unilateral trade tariffs abandoning multinational trade agreements.”
Annual report 2024A · The company itself
Chains in: Geopolitical uncertainty strengthens
Chains out: this weakens Global trade volumes
Europe
Geography
Geography
“We have signed new partnerships across Europe with both distributors and resellers, and we see a strong interest and momentum in the market driven by the increased focus on management, control and security for mobile devices.”
Annual report 2024A · The company itself
Geography
“The recently signed LOI with a new IT vendor in the UK and Ireland, along with our continued expansion in Poland and the broader European market, provides a strong foundation for sustained revenue growth.”
Annual report 2024A · The company itself
Geography
“Through a series of strategic acquisitions, Techstep has solidified its presence in Scandinavia and later expanded into European markets through Poland.”
Annual report 2024A · The company itself
Geography
“While the company's primary market remains Scandinavia, where its full product portfolio is readily accessible through direct sales and partnerships with both private enterprises and the public sector, its strategic go-to-market focus extends across Europe, led from Poland.”
Annual report 2024A · The company itself
Geography
“In February 2025, Techstep announced that it has entered a letter of intent with a leading IT vendor, marking its strategic entry into the Irish and UK markets.”
Annual report 2024A · The company itself
Geography
“Outlook Techstep serves more than 2 100 customers across industries in both the private and public sector in Europe, and is recognised by Gartner as the only challenger in the Magic Quadrant for Managed Mobility Services. Techstep’s goal is to become the leading mobile & circular technology company in Europe for customers that want to work smarter, securely and more sustainably.”
Annual report 2024A · The company itself
Nordics
Geography
Geography
“Through a series of strategic acquisitions, Techstep has solidified its presence in Scandinavia and later expanded into European markets through Poland.”
Annual report 2024A · The company itself
Geography
“While the company's primary market remains Scandinavia, where its full product portfolio is readily accessible through direct sales and partnerships with both private enterprises and the public sector, its strategic go-to-market focus extends across Europe, led from Poland.”
Annual report 2024A · The company itself
Geography
“According to Gartner, the global MMS market is expected to grow at CAGR by 3.4% from 2023-28, with Norway, Sweden and Poland seeing higher growth at 4.7- 4.8% in the same period1 Gartner Services Forecast, Q4 2024.”
Annual report 2024A · The company itself
Competitors mentioned in the report
No named competitors in the report.
Financial figures
| Revenue latest fiscal year | 1.07 bn NOK |
| Revenue growth vs. the year before, same method | -1.6 % |
| EBITDA reported by the company | 0.03 bn NOK |
| Net debt debt incl. leasing minus cash | N/A |
| Diluted EPS per share | -1,420 NOK |
Source: annual report (ESEF) A. See the report
Criteria
| Profit | ✗ |
| Growing | ✗ |
| Healthy balance sheet | N/A |
Only the criteria that can be computed from financial statements on this page. The remaining criteria (such as price and dividend) need a share price and are in the analysis.
Figures are in the report's currency (NOK), not converted to DKK. Quotes are shown as the company's own words in the report's original language.