Risk Intelligence signs significant two-year contract extension with Saipem S.p.A.

29 June 2021

Risk Intelligence A/S has signed a significant agreement, valued at EUR 200,000, with Saipem S.p.A. This is to support Saipem’s maritime security preparedness activities globally for the period 2021–2023. The extension takes the relationship between Saipem and Risk Intelligence into its 10th year.

The two-year agreement with a total value of up to EUR 200,000, of which about 100,000 EUR is already part of the budgeted recurring revenue, will impact the revenue positively in 2021 and 2022. The agreement includes renewal of the Risk Intelligence System (MaRisk+PortRisk) as well as a range of bespoke and semi-bespoke products from Risk Intelligence’s Advisory Services.

Saipem Corporate Security Manager, Corrado Mirelli, says:

“Saipem Corporate Security function has just extended our longstanding and close cooperation with Risk Intelligence, through another two-year agreement. The maritime security intelligence services of the Risk Intelligence – Maritime and Port Facility Risk – are valuable, insightful, and trustworthy for our daily activities in management of the offshore operations, as well as in project activities worldwide.

Risk Intelligence’s online intelligence solutions has supported us in making comprehensive security risk assessments for new commercial initiatives, take well-informed decisions about projects’ specific 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.”

Risk Intelligence CEO, Hans Tino Hansen, says:

“It is a great pleasure that Saipem has decided to extend our longstanding relationship. We are looking forward to continuing cooperating and providing the best possible security intelligence to secure Saipem’s crews, assets, and operations globally during the next two years. The agreement also testifies the quality of our products and the emphasis we have on developing strong long-term relationships with our clients.

We have this year seen a substantial increase in business with new as well as with existing clients in our maritime business and we are witnessing an increasing pipeline in both the maritime and landside business. With this agreement we are on the right track to deliver on our targets for 2021.”

About Saipem

Saipem (SPM.MI) is a leading company in engineering, drilling and construction of major projects in the energy and infrastructure sectors. Listed on the Milan Stock Exchange, with a market cap exceeding Bn EUR 2, Saipem is a global solution provider with distinctive skills and competences and high-tech assets, which it uses to identify solutions aimed at satisfying customer requirements. Saipem is present in over 60 countries worldwide and has 32,000 employees of 120 different nationalities.

About Risk Intelligence

Risk Intelligence (RISK.SS) is a prominent company in security risk intelligence and management by delivering threat and risk assessments worldwide. Listed on the Spotlight Stock Exchange in Stockholm, Risk Intelligence operates and assists customers and partners from headquarters located in Hellerup, north of Copenhagen, the office in Singapore as well as through representatives in Europe, Asia, and North America. Risk Intelligence’s core product is the Risk Intelligence System.

The Risk Intelligence System

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 customers 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. This enables companies to evaluate both current and future security risks in real time to minimise risks across their operations.

Risk Intelligence clients currently operate more than 15.4% of the global merchant fleet.

Licences provide strong recurring revenue

The license agreement provides access to the Risk Intelligence System (MaRisk+PortRisk) through a subscription, paid for twelve months at a time, in advance. Variables of the Risk Intelligence System license agreements are number of modules, selection of additional layers, number of users and any technical integration such as API. The Risk Intelligence System license agreements create recurring revenue with a renewal rate of 98-100% (churn of 0-2%) and generates strong cash flow for the Company. The lifetime value (LTV) of a Risk Intelligence System license is on average about 1M DKK.

This information is information that Risk Intelligence A/S is obliged to make public pursuant to the EU Market Abuse Regulation. The information was submitted for publication through the agency of the contact person set out below, on 29 June 2021.

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

Website and social media:

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