Risk Intelligence A/S signs significant three-year contract extension for the Risk Intelligence System with Saipem S.p.A.

27 July 2023 | Company announcement No 23-2023

Risk Intelligence A/S (“Risk Intelligence” or "the Company") signs significant three-year contract extension for the Risk Intelligence System and provides a framework for all other services.

Contract extension to 2026
The new three-year contract replaces the previous two-year contract and provides continued access to the Risk Intelligence system, which will provide Saipem with situational awareness for their global operations.

The three-year agreement includes renewal of the Risk Intelligence System as well as a framework for a range of bespoke and semi-bespoke reports from Risk Intelligence’s Advisory Services, which are not included in the contract value, but will be ordered separately. The total value of the Risk Intelligence System recurring revenue increases with approx. 56,000 EUR (417,000 DKK) during the 3 year-period.

Corrado Miralli, Security Manager & CISO, Saipem, says:
“Saipem SpA Security function has recently extended our longstanding cooperation with Risk Intelligence A/S, through another three-year agreement. The maritime and port security intelligence services of the Risk Intelligence (MaRisk+PortRisk) are valuable, insightful, and trustworthy for management of our daily activities and the offshore operations, as well as in project activities worldwide.

Risk Intelligence’s solutions have supported us in making comprehensive security risk assessments for new commercial initiatives, allowing us to take well-informed decisions about projects’ specific offshore requirements and operations with a higher degree of security for our personnel and assets.

Risk Intelligence has shown to be a very supportive and responsive service provider throughout the period of our continued cooperation”.

Hans Tino Hansen, CEO of Risk Intelligence, says:
“It is a great pleasure that Saipem has again decided to extend our longstanding relationship. We are looking forward to the continued cooperation and providing the best possible security intelligence analysis, threat, and risk assessments, to secure Saipem’s crews, assets, and operations globally during the next three years.

These client relationships are the very foundation for our business providing both a daily test of the quality of our products, an ongoing communication and support for the client’s operations, as well as valuable feedback enabling Risk Intelligence to improve our products and services.

The renewal of the agreement is a testimony to this and the recurring revenue from the agreement plays an important role in our recurring revenue forecast for the next three years. This agreement contributed to achieving satisfactory growth in both topline revenue and ARR during the second quarter.

With the solid basis of recurring revenue in combination with upsell to existing clients as well as sales to new clients from our increasing pipeline in both the maritime and land-based markets, we are on track of delivering on the milestones in the 2025 Strategy.”

About Risk Intelligence
Risk Intelligence is a security risk intelligence provider delivering security threat and risk analysis to clients all over the world via the cloud-based Risk Intelligence System, as well as consulting services. A large part of Risk Intelligence’s clients is maritime, and these clients currently operate more than 15.4% of the global merchant fleet.

With its headquarters in Hellerup (Copenhagen), Denmark, an office in Singapore, and locations in North America, the dedicated staff of Risk Intelligence works in all major time zones to support their clients’ operations. Since 2018, the company has been listed on the Spotlight Stock Exchange in Stockholm.

The Risk Intelligence System is a digital security intelligence solution developed in close collaboration with global businesses that are established within the fields of shipping, offshore, oil and gas. The digital solution is designed based on insights directly from customers and their needs as well as Risk Intelligence’s experienced security risk analysts and developers’ knowledge of intelligence and assessment needs.

The Risk Intelligence System offers clients a complete picture of immediate, short-, and medium-term security risks for coastal areas, ocean, port, and landside threats. The analysis is focused on insurgency, piracy, organised crime, activism, terrorism, military conflicts, and any interplay between these. Risk Intelligence identifies where serious events arise and presents an assessment of how great the threat is in each area, while at the same time providing 24/7/365 situational awareness with incident reports and alerts. This enables companies to evaluate both current and future security risks in real time and to minimise risks across their operations.

For more information on services and the Risk Intelligence System:
Please watch our corporate video: Knowing Risk

For further information about Risk Intelligence, please contact:
Hans Tino Hansen, CEO
Jens Krøis, CFO
Jim Pascoe, CCO
Telephone: +45 7026 6230
E-mail: investor@riskintelligence.eu

Social media:
Website:         investor.riskintelligence.eu and riskintelligence.eu
Twitter:             twitter.com/riskstaff
LinkedIn:          linkedin.com/company/risk-intelligence
Facebook:        facebook.com/riskstaff