Interim Report January - June 2023
31 Agosto 2023 - 1:00AM
Interim Report January - June 2023
Continued growth in SaaS Revenue in
the second quarter
April – June 2023
- Net sales were stable with last year at SEK 126.9 (126.0)
million
- SaaS revenues increased by 14.0% to SEK 53.7 (47.1)
million
- ARR amounted to SEK 218.8 (187.9) million
- Reported EBITDA grew by 15.3% to SEK 9.8 (8.5) million
- Adjusted EBITDA increased by 5.5% to SEK 15.3 (14.5)
million
- Operating profit improved by SEK 1 million, to SEK -0.2 (-1.2)
million
January – June 2023
- Net sales increased by 3.9% to SEK 246.5 (237.2) million
- SaaS revenues increased by 10.2% to SEK 103.7 (94.1)
million
- Reported EBITDA was in line with the prior year at SEK 13.5
(13.9) million
- Operating profit was SEK -6.8 (-5.7) million
Significant events during the
quarter
- Michael van Straten
resigned his role as CFO and Jog Dhody was appointed interim CFO in
his place.
Significant events after the second
quarter
-
The Group secured a SEK 50 million Revolving Credit Facility with
Nordea Bank and leverage covenants are aligned with the Bond. The
facility also includes a new Interest Cover covenant for which the
Group has substantial headroom. The Group does not require this
facility to meet any working capital requirements; this facility
will however allow to fund M&A activities.
CEO comment
Stable sales and continued SaaS
growth
Net sales for the quarter amounted to SEK 126.9 (126.0) million.
SaaS revenues were SEK 53.7 (47.1) million and represented 42.3%
(37.4%) of net sales. Reported EBITDA was SEK 9.8 (8.5) million.
Adjusted for Hanover costs and non-recurring items, EBITDA amounted
to SEK 15.3 (14.5) million.
Our second quarter was characterized by stable sales and
continued growth in SaaS revenues.
During the quarter we have seen continued expansion of our
international customer activity as well as some customer project
delays. During the quarter, we expanded our work across the whole
group focusing on key enterprise customer development and the
strengthening of our service and product range. We also
strengthened our country management organizational set-up to
further local growth and local market specific focus. The on-going
investment continues in our software and product offering
concurrent with our operations and sales functions development
activities.
Outlook
Our long-term plan and investment initiatives for scalable
international growth are further strengthening our position. As a
result, we continue to see increased organizational efficiency and
new opportunities taking shape in the medium term. At the same
time, we’re effectively handling delayed lead times in some
customer projects.
We continue to actively monitor market development and to manage
costs diligently whilst prioritizing key investments for long-term
growth. I would like to thank all our co-workers for their tireless
commitment and thank our customers for their continued trust.
Malmö, August 31, 2023Per
MandorfPresident and CEO
This report has not been subject to review by the
company's auditor. This report is such information that
ZetaDisplay AB is obliged to make public pursuant to the EU Market
Abuse Regulation. The information was submitted, on the authority
of Per Mandorf for publication on 31 August 2023 at 08:00
CET
Upcoming reporting sessions
ZetaDisplay AB (publ) interim report January – September will be
published on ir.zetadisplay.com in November, week 48.
For further information please contact:
Per Mandorf, President & CEOMobile: +46
704-25 82 34E-Mail: per.mandorf@zetadisplay.com
Jog Dhody, Interim CFOMobile: +44 778 652
0802E-Mail: jog.dhody@zetadisplay.com
Robert Bryhn, CMO / Head of
CommunicationMobile: +46 709-80 20 80E-Mail:
robert.bryhn@@zetadisplay.com
About ZetaDisplay
ZetaDisplay is a leader in the Nordic region and second in
Europe and we drive the digital transformation in physical
environments on a daily basis. Our solutions, concepts and software
digitize, influence and inform people's behavior at the time of
decision-making in stores, in public environments and in
workplaces. Our solutions are known as Digital Signage which we
develop and offer as SaaS solutions. We are a global leader that
actively influences the development of the international Digital
Signage market organically, through innovation and through
acquisitions.ZetaDisplay is based in Malmö, has a turnover of
approximately SEK +500 million and employs 200 employees in offices
in six European countries. In total, the company manages over
80,000 installations in more than 50 markets. ZetaDisplay is owned
by the investment company Hanover Investors. More information at
www.ir.zetadisplay.com and www.hanoverinvestors.com
- Interim Report January - June 2023
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