Financial figures_external_IR
SEKm Q116 Q216 Q316 Q416 Q117 Q217 Q317 Q417 Q118 Q218 Q318 Q418 Q119 Q219 Q319 Q419 Q120 Q220 Q320 Q420 Q121 Q221 Q321 Q421 Q122 Q222 2016 2017 2018 2019 2020 2021
Net sales
Messaging 3,302 3,640 3,885 4,540 4,392 15,366
Voice 48 43 53 339 1,400 483
Email 0 0 0 81 330 81
SMB 0 0 0 247 427 247
Total 267 290 590 670 622 745 781 909 859 997 979 1,151 1,102 1,177 1,216 1,541 1,624 1,622 1,778 3,000 3,350 3,682 3,938 5,207 6,550 1,817 3,058 3,987 5,036 8,023 16,177
Gross profit
Messaging 808 848 875 975 896 3,506
Voice 12 21 21 162 681 217
Email 0 0 0 64 246 64
SMB 0 0 0 147 273 147
Total 67 64 165 189 191 191 198 200 200 249 250 310 290 321 344 440 447 460 481 796 820 869 896 1,348 2,096 486 780 1,008 1,394 2,183 3,933
Opex excl. adjustments
Messaging -460 -466 -487 -527 -629 -1,939
Voice -19 -31 -27 -111 -339 -187
Email 0 0 0 -27 -120 -27
SMB 0 0 0 -81 -136 -81
Other -73 -89 -83 -131 -113 -375
Total -181 -204 -199 -227 -270 -261 -246 -418 -551 -586 -597 -877 -1,336 -812 -1,193 -2,611
Adj EBITDA
Messaging 348 382 388 449 268 1,567
Voice -7 -10 -6 52 343 29
Email 0 0 0 36 126 36
SMB 0 0 0 65 137 65
Other -73 -89 -83 -131 -112 -375
Total 108 117 144 213 177 200 234 378 269 284 298 471 760 582 990 1,322
EBITDA adjustments
Messaging -44 -65 -77 -14 -18 -200
Voice 0 -0 -1 -7 -8 -7
Email 0 0 0 -1 -10 -1
SMB 0 0 0 5 -11 5
Other -33 -67 -65 -125 -66 -289
Total 4 -3 -9 -19 -2 -54 -19 -199 -76 -132 -142 -141 -113 -27 -275 -491
EBITDA
Messaging 305 317 311 434 250 1,367
Voice -7 -10 -7 45 335 22
Email 0 0 0 36 116 36
SMB 0 0 0 70 126 70
Other -106 -155 -148 -255 -178 -664
Total 25.3 -1.0 28.1 68.1 71 49 67 76 53 80 99 140 112 114 135 194 175 146 215 179 192 152 157 330 648 121 263 373 556 715 831
Depr, amortization -30 -31 -33 -33 -33 -41 -40 -33 -43 -41 -48 -51 -57 -58 -60 -88 -96 -104 -132 -334 -554 -46 -126 -146 -184 -262 -664
Impairments 0 0 0 -12 0 0 -9 0 0 0 0 0 0 0 0 0 0 -0 -0 -8 0 0 -12 -9 0 0 -8
EBIT 41 18 35 31 20 40 50 108 69 73 87 143 119 88 155 91 97 48 25 -12 95 75 125 218 372 453 158
Net financials -8 -10 -21 -13 -4 1 -2 -11 5 -7 6 -20 12 -32 -20 -33 89 59 276 615 16 9 -51 -17 -17 -74 1,039
Profit before tax 34 9 14 19 16 40 48 97 74 66 93 123 131 56 135 58 186 107 301 603 111 84 74 201 355 379 1,197
Tax -0 -10 -2 72 -7 -11 -11 7 -16 -12 -24 -28 -34 -19 -38 155 -45 -60 -35 -150 -23 -1 60 -22 -81 63 -290
Net income 33 -1 12 90 9 29 38 104 58 53 69 95 96 37 96 213 141 47 266 453 88 82 134 180 275 442 907
of which non-controlling 0 0 0 0 0 0 -0 0 -0 0 -0 0 -0 0 0 0 0 0 0 0 0 0 1 0 -0 -0 0
of which shareholders 33 -1 12 90 9 29 38 104 58 53 69 95 97 37 96 213 141 47 266 453 88 82 134 180 275 442 907
Net debt (+) / Net cash (-) 512 246 320 349 547 438 514 406 484 441 445 959 -639 -1,494 -972 -1,985 -2,053 -11,191 -10,879 10,658 10,856 369 349 406 959 -1,985 10,658
of which IFRS 16-related lease liabilities 22 22 22 47 47 51 46 902 899 47 902
EBIT 69 73 87 143 119 88 155 91 97 48 25 -12 95 372 453 158
Adjustments to EBITDA 4 -3 -9 -18 -2 -54 -19 -199 -76 -132 -142 -141 -113 -27 -275 -491
Impairments 0 0 0 0 0 0 0 0 0 -0 -0 -8 0 0 0 -8
Amortization of acquisition related assets -33 -31 -32 -38 -41 -43 -44 -66 -70 -74 -103 -264 -440 -134 -194 -511
Adjusted EBIT* 98 107 128 199 161 185 219 356 244 254 270 402 647 533 922 1,169
Average number of employees 317 345 359 351 357 380 393 391 405 431 454 517 595 638 825 1,233 1,610 1,822 1,892 2,425 3,437
Average number of consultants 49 47 53 61 62 61 69 77 91 110 119 137 149 156 167 257 277 470 457 564 773
Total 366 392 412 412 420 441 461 468 496 542 573 654 744 794 992 1,490 1,887 2,292 2,349 2,989 4,210
Supplementary information Q119 Q219 Q319 Q419 Q120 Q220 Q320 Q420 Q121 Q221 Q321 Q421 Q122 Q222 2019 2020 2021
EBITDA adjustments
Acquisition costs -6 -26 -69 -33 -17 -24 -24 -101 -42 -134 -165
Adjusted earnout 0 4 61 -27 0 0 0 0 0 37 0
Integration costs -3 -9 -3 -75 -31 -75 -59 -66 -59 -91 -230
Costs of share-based incentive programs -2 -12 -4 -33 -29 -18 -45 -15 -17 -51 -107
Operational foreign exchange gains/losses 10 -11 -5 -19 0 -15 -14 29 5 -25 0
Other adjustments 0 0 0 -11 -1 0 0 11 0 -11 11
Total -2 -54 -19 -199 -76 -132 -142 -141 -113 -275 -491
Proforma figures Q121 Q221 Q321 Q421 Q122 Q222 2020 2021
Net sales
Messaging 3,403 3,653 3,898 4,546 4,392 - 15,500
Voice 1,258 1,265 1,317 1,308 1,400 - 5,147
Email 238 257 280 303 330 - 1,078
SMB 313 350 377 383 427 - 1,423
Total proforma Net sales 5,212 5,526 5,871 6,539 6,550 19,627 23,148
Gross profit
Messaging 842 861 887 982 896 - 3,571
Voice 605 617 615 617 681 - 2,454
Email 190 200 215 228 246 - 834
SMB 202 221 232 230 273 - 884
Total proforma Gross profit 1,840 1,899 1,948 2,057 2,096 7,162 7,743
Opex excl. adjustments
Messaging - - - - -629 - -
Voice - - - - -339 - -
Email - - - - -120 - -
SMB - - - - -136 - -
Other - - - - -113 - -
Total proforma Opex excl. adjustments - - - -1,225 -1,336 - -
Messaging - - - - 268 - -
Voice - - - - 343 - -
Email - - - - 126 - -
SMB - - - - 137 - -
Other - - - - -112 - -
Total proforma Adj EBITDA - - - 831 760 - -
Growth rates (SEK)
Net sales - - - - 26% - 18%
Gross profit - - - - 14% - 8%
Growth rates in local currency
Net sales - - - - 17% - 23%
Gross profit - - - - 5% - 13%
Proforma gross margin 35% 34% 33% 31% 32% 36% 33%
Earlier disclosure bridging reported and pro forma financials. Reiterated for reference. Not updated after Q122.
Acquired entity acquisitions proforma figures Q121 Q221 Q321 Q421 Q122 n.a. 2020 2021
Net sales (SEKm)
Inteliquent 1,209 1,222 1,263 1,262 1,355 4,970 4,957
MessageMedia 313 350 377 383 427 1,137 1,423
Pathwire 238 257 280 303 330 868 1,078
MessengerPeople 11 14 13 16 14 40 54
Gross profit (SEKm)
Inteliquent 593 596 594 595 653 2,381 2,378
MessageMedia 202 221 232 226 265 691 880
Pathwire 190 200 215 228 245 679 833
MessengerPeople 10 13 12 16 13 40 51
Adj Opex (SEKm)
Inteliquent - - - 271 318 - -
MessageMedia - - - 126 135 - -
Pathwire - - - 115 122 - -
MessengerPeople - - - 13 11 - -
Adj EBITDA (SEKm)
Inteliquent - - - 325 336 - -
MessageMedia - - - 100 130 - -
Pathwire - - - 113 124 - -
MessengerPeople - - - 4 2 - -
Sales growth in local currency
Inteliquent - - - - - - 7%
MessageMedia - - - - - - 25%
Pathwire - - - - - - 32%
MessengerPeople - - - - - - 37%
Gross profit growth in local currency
Inteliquent - - - - - - 7%
MessageMedia - - - - - - 28%
Pathwire - - - - - - 30%
MessengerPeople - - - - - - 31%
Gross margin
Inteliquent 49% 49% 47% 47% 48% 48% 48%
MessageMedia 64% 63% 61% 59% 62% 61% 62%
Pathwire 80% 78% 77% 75% 74% 78% 77%
Bridge from consolidated to proforma Q121 Q221 Q321 Q421 n.a. n.a. 2020 2021
Consolidated Net sales 3,350 3,682 3,938 5,207 8,023 16,177
Inteliquent* 1,209 1,222 1,263 969 4,970 4,664
MessageMedia* 313 350 377 135 1,137 1,176
Pathwire* 238 257 280 222 868 997
Other acquisitions** 101 14 13 6 4,629 133
Total proforma Net sales 5,211 5,526 5,871 6,539 19,627 23,148
Consolidated Gross profit 820 869 896 1,348 2,183 3,933
Inteliquent 593 596 594 455 2,381 2,238
MessageMedia 202 221 232 84 691 738
Pathwire 190 200 215 164 679 770
Other acquisitions* 34 13 12 7 1,228 66
Total proforma Gross profit 1,840 1,899 1,948 2,057 7,162 7,744
Consolidated Adj EBITDA 269 284 298 471 990 1,322
Inteliquent* - - - 242 - -
MessageMedia* - - - 42 - -
Pathwire* - - - 76 - -
Other acquisitions** - - - 0 - -
Total proforma Adj EBITDA - - - 831 - -
Proforma Adjusted Opex - - - 1,225 - -
Growth rates (SEK)
Net sales - - - - - 18%
Gross profit - - - - - 8%
Growth rates in local currency
Net sales - - - - - 23%
Gross profit - - - - - 13%
Proforma gross margin 35% 34% 33% 31% 36% 33%
*Earnings before being consolidated into Sinch "Consolidated", e.g. for Inteliquent, Q421 includes less than 100% of that calendar quarter
**Chatlayer before 1 April 2020, ACL before 1 September 2020, SDI before 1 November 2020, Wavy before 1 February 2021, MessengerPeople from 1 November 2021
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Sinch AB (publ) published this content on 19 July 2022 and is solely responsible for the information contained therein. Distributed by Public, unedited and unaltered, on 19 July 2022 07:33:02 UTC.