Press release,
Sales growth with the US market in the driver's seat
Third quarter 2022
- Net sales increased during the third quarter by 8,2% to 86,5 MSEK (80,0). Currency translations had a positive effect of 6,2 MSEK on net sales.
- Adjusted EBITDA decreased during the third quarter by 37,6% to 5,2 MSEK (8,4), corresponding to an adjusted EBITDA margin by 6,0 % (10,4)
- Operating profit/loss was -2,6 MSEK (1,7) which correspond to operating margin of -3,0% (2,1)
- Profit for the quarter was -4,5 MSEK (1,7)
-
Result per share, basic and diluted was -0,31
(0,11) SEK - Cash flow from operating activities for the period was -16,6 MSEK (-5,3)
January-
- Net sales increased during the nine-month period by 4,4% to 254,0 MSEK (243,4). Currency translations had a positive effect of 19,8 MSEK on net sales.
- Adjusted EBITDA decreased during the period by 57,4% to 12,3 MSEK (28,9), corresponding to an adjusted EBITDA margin by 4,8% (11,9)
- Operating profit/loss was -9,7 MSEK (11,2) which correspond to operating margin of -3,8% (4,6)
- Profit for the period was -13,8 MSEK (10,1)
-
Result per share, basic and diluted was -0,94
(0,69) SEK - Cash flow from operating activities for the period was -7,9 MSEK (12,5)
Amounts in TSEK | 2022 July-Sept | 2021 July-Sept | 2022 Jan-Sept | 2021 Jan-Sept | R12M Oct-Sept | 2021 Full Year |
Net sales | 86 543 | 80 017 | 254 002 | 243 354 | 337 533 | 326 886 |
Net sales growth, % | 8,2 | 12,7 | 4,4 | 11,3 | 8,5 | 14,1 |
Gross margin, % | 67,6 | 72,0 | 68,2 | 66,9 | 69,3 | 68,4 |
Adjusted EBITDA | 5 215 | 8 353 | 12 293 | 28 880 | 17 372 | 33 958 |
Adjusted EBITDA margin, % | 6,0 | 10,4 | 4,8 | 11,9 | 5,1 | 10,4 |
Equity ratio, % | 56,1 | 52,1 | - | - | - | 54,4 |
Cash flow from operating activities, MSEK | -16,6 | -5,3 | -7,9 | 12,5 | 5,9 | 26,2 |
Net debt/EBITDA, R12M | - | - | - | - | 1,3 | 0,3 |
Number of employees at end of period | 125 | 138 | - | - | - | 137 |
Comments by the CEO
Demand for our solutions is stable and the group's total sales increased by 8.2 percent compared to the third quarter last year. Sales for our
During the quarter, we were affected by cost increases for both electronic components and consumables. We have therefore continued to increase our component purchases via the spot market to keep our commitments to customers. With price increases and internal efficiency, we managed to reach an acceptable gross margin of just under 68 percent, which is, however, somewhat lower than in the third quarter of 2021.
Considering the challenging purchasing situation and the deficiency of capacity in our outsourced production, we are very pleased that we continue to have such a good gross margin. So far this year, when all nine months are included, we have a slightly higher gross margin compared to last year. It shows that our offer can withstand price increases without losing attractiveness. An important reason for this is that during the long-term component shortage, we have built up an efficient and structured sourcing process that gives us relatively good delivery power, which in the long run should lead to increased market shares. We estimate that the loss in sales of delayed deliveries due to component shortages and capacity shortages corresponded to approximately 3.5 percent of sales during the quarter, which is slightly less than previous quarters.
During the quarter, the work to achieve profitability in our latest acquisition,
We have continued to invest in technology leadership in our areas and develop more complete solutions that give our offer increased competitiveness and move us up the value chain. The focus is increasingly directed towards solutions that can contribute to a more sustainable transport system where analysis, AI and
The group's turnover during the third quarter amounted to
The quarter shows a gross margin of 67.6 percent with an adjusted EBITDA result of
Cash flow decreased caused by lower earnings and negative cash flow from changes in working capital linked to increases in stock and the fact that a large part of sales took place at the end of the quarter and therefore increased accounts receivable. Our stock has increased during the quarter by approximately 8 percent as a result of our strategy to invest in always maintaining a high level of service to our customers and being able to deliver even in times of severe delivery disruptions. The work to reduce the working capital has continued focus.
Today,
Our strategy and the value-creating potential have not changed due to the short-term limitations in the supply chain, and our investment in growth via innovation, commercial focus and acquisition means that we have a positive view of the company's development for the coming years.
CEO
Auditor's review
This report has been reviewed by the company auditor.
Financial Calendar
This report and previous reports and press releases are found at the company home page www.tagmaster.com
For further information contact:
This information is information that
About
https://news.cision.com/tagmaster-ab/r/interim-report-2022-january-september,c3655991
https://mb.cision.com/Main/1590/3655991/1644345.pdf
(c) 2022 Cision. All rights reserved., source