Fourth quarter 2023
- Net sales decreased by 10.0 percent to
EUR 72.3m (80.3m). Growth on a constant currency basis was -6.3 percent. - Gross profit amounted to
EUR 46.2m (48.7) with a gross margin of 63.9 percent (60.6). - EBITDA amounted to
EUR 11.4m (8.2) with an EBITDA margin of 15.8 percent (10.2). - Adjusted EBITDA amounted to
EUR 15.2m (13.5) with an adjusted EBITDA margin of 21.1 percent (16.8). - EPS, before dilution amounted to
EUR -1.95 (-1.60). - Adjusted EPS, before dilution amounted to
EUR 0.03 (0.05).
January -
- Net sales decreased by 9.7 percent to
EUR 266.5m (295.2). Growth on a constant currency basis was -6.9 percent. - Gross profit amounted to
EUR 166.2m (183.3) with a gross margin of 62.3 percent (62.1). - EBITDA amounted to
EUR 25.9m (27.5) with an EBITDA margin of 9.7 percent (9.3). - Adjusted EBITDA amounted to
EUR 40.1m (48.8) with an adjusted EBITDA margin of 15.1 percent (16.5). - EPS, before dilution amounted to
EUR -2.10 (-1.66). - Adjusted EPS, before dilution amounted to
EUR 0.07 (0.14). - The board of directors will propose to the AGM 2024 that no dividend shall be paid to shareholders.
CEO
Marketplace sales were slow, affected by lower demand from a few large clients and overall weak economic conditions, partly offset by strong growth in Media Measurement sales. Net sales decreased by 10.0 percent in the fourth quarter to
The gross margin was 63.9 percent, a significant improvement from last year reflecting our movement toward selling higher margin products such as Media measurement. The EBITDA margin adjusted for items affecting comparability was 21.1 percent (16.8), helped by cost savings.
Operating cash flows have been below our expect-ations during the year affected by negative working capital development and a significant amount of non-recurring integration costs (c.
I am highly confident in the strategic direction we have taken and pleased that management and the organization have followed our step-by-step plan to implement all actions. Focus for 2024 is to return to growth and innovation while retaining profitability and at the same time improve cash flow from operations.
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