Interim Report January - September 2021
08 Noviembre 2021 - 01:00AM
Interim Report January - September 2021
Strong result and completed change of ownership
July - September 2021
- Net sales increased by 16.9% to SEK 101.6 (86.9) million
- SaaS revenue increased by 15.7% to SEK 44.5 (38.4) million
- ARR amounted to SEK 177.3 million compared to SEK 174.6 million
in the previous quarter
- EBITDA amounted to SEK 13.2 (13.6) million. Adjusted for
non-recurring items, EBITDA amounted to SEK 24.0 (13.6)
million
- Operating profit amounted to SEK 4.3 (5.3) million
January - September 2021
- Net sales increased by 13.1% to SEK 298.1 (236.6) million
- SaaS revenue increased by 10.2% to SEK 128.1 (116.3)
million
- EBITDA amounted to SEK 34.8 (18.4) million. Adjusted for
non-recurring items, EBITDA amounted to SEK 54.4 (34.9)
million
- Operating profit amounted to SEK 8.4 (-7.6) million
Significant events during the quarter
- On July 28, Hanover Active Equity Fund II S.C.A. SICAV-RAIF
announced through Alpha Acquisition AB that their ownership
exceeded 50% of the shares
- On August 28, Hanover Active Equity Fund II S.C.A. SICAV-RAIF
announced through Alpha Acquisition AB that their ownership
exceeded 90% of the shares. Compulsory redemption of the remaining
shares is ongoing
Significant events after the quarter
- On October 7, ZetaDisplay AB (publ) held an extraordinary
general meeting and a decision was made to make changes to the
Board of Directors
- On October 8, the shares in ZetaDisplay AB (publ) were
delisted
CEO comment:
Strong result and completed change of ownership
ZetaDisplay's net sales amounted to SEK 101.6 (86.9)
million. SaaS revenues amounted to SEK 44.5 (38.4) million and
represented 43.8 (44.2) % of net sales. ARR corresponded to SEK
177.3 million and EBITDA was SEK 13.2 (13.6) million. Adjusted for
non-recurring items related to the strategic review during the
spring, EBITDA amounted to 24.0 (13.6) MSEK.
The increase in net sales is mainly explained by the acquisition
of German NORDLAND systems GmbH. Gross profit for the period
amounted to SEK 65.5 (45.9) million with a gross margin of
64.4 (52.8) %.
During the third quarter, we have seen increased activity in the
market that we are responding to with a continued strong customer
offering. The customer base has remained intact throughout the
pandemic, and we see that the recovery in customer activity has
become more apparent. The number of procurements has increased, and
customers have started to plan for new projects to a greater
extent.
The increase in activity in the market internationally and some
lack of components have led to some delays in hardware deliveries.
We have largely been able to handle the situation thanks to our
strong position with leading suppliers and through coordination
within the Group.
We continue to develop and launch new features and integrations
in our software platform.
Our employees have increasingly returned to working from the
offices in line with local restrictions and recommendations.
Change of ownership
During the quarter, the company has gone through a change of
ownership. The management of ZetaDisplay together with the new
owners look forward to promoting growth and creating long-term
positive effects.
Outlook
Developments over the past three months have confirmed that the
market is recovering, and we are preparing for further growth for
the remainder of the year.
Malmö, 8 November 2021
Per Mandorf
President and CEO
This report has been reviewed by the company's
auditors. This interim report and auditors report of review of
interim financial information is a translation of the original
Swedish interim report that has been formally approved by the Board
of Director
This interim 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 8 November 2021 at 8:00 a.m.
Coming Financial Reporting Dates
Year End Report 2021: March 4th 2022
For further information, please contact:
Per Mandorf, President & CEOMobile: +46
704- 25 82 34E-Mail: per.mandorf@zetadisplay.com
Jacob Stjernfält, CFOMobile: +46 768-75 41
77E-Mail: jacob.stjernfalt@zetadisplay.com
Robert Bryhn, CMOMobile: +46 709-80 20
80E-Mail: robert.bryhn@@zetadisplay.com
About ZetaDisplay
ZetaDisplay is a leader in the Nordic region and second in
Europe. We actively 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 point of
decision-making in shops, in public environments and in workplaces.
Our solutions are known as Digital Signage which we develop and
offer as SaaS solutions. We are a globally leading player that
actively influences the development of the international Digital
Signage market organically, through innovation and through
acquisitions.
ZetaDisplay is headquartered in Malmö, has sales of
approximately SEK 450 million and employs 200 people at ten offices
in six European countries and the USA. In total, the company
handles over 70,000 installations in more than 50 markets.
ZetaDisplay is owned by the British investment company Hanover
Investors. More information at www.ir.zetadisplay.com and
www.hanoverinvestors.com
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