Press release
Record results for
April-
- Net sales increased during the second quarter by 11,6 % to 98,2 MSEK (87,9). The organic and currency adjusted growth amounted to 6,2 %.
- Adjusted EBITDA increased during the second quarter by 95,4 % and amounted to 15,7 MSEK (8,0) corresponding to an adjusted EBITDA margin by 15,9 % (9,1).
- Operating profit was 7,7 MSEK (0,9), corresponding to an operating margin of 7,9 % (1,0).
- Profit/loss for the quarter was 6,3 MSEK (-0,7).
-
Result per share basic and diluted was
0,43 SEK (-0,05). - Cash flow from operating activities for the period was 5,4 MSEK (11,3).
January-
- Net sales increased during the first half year by 15,0 % to 192,6 MSEK (167,5). The organic and currency adjusted growth amounted to 9,0 %.
- Adjusted EBITDA increased during the first half year by 232,5 % and amounted to 23,5 MSEK (7,1) corresponding to an adjusted EBITDA margin by 12,2 % (4,2).
- Operating profit/loss was 7,8 MSEK (-7,0), corresponding to an operating margin of 4,0 % (-4,2).
- Profit/loss for the period was 6,6 MSEK (-9,3).
-
Result per share basic and diluted was
0,45 SEK (-0,64). - Cash flow from operating activities for the period was 21,0 MSEK (8,7).
Amounts in TSEK | 2023 April-June | 2022 April-June | 2023 Jan-June | 2022 Jan-June | R12M July-June | 2022 Full Year |
Net sales | 98 165 | 87 945 | 192 555 | 167 459 | 383 700 | 358 603 |
Net sales growth, % | 11,6 | -1,1 | 15,0 | 2,5 | 15,9 | 9,7 |
Gross margin, % | 71,6 | 70,4 | 71,0 | 68,5 | 69,5 | 68,3 |
Adjusted EBITDA | 15 653 | 8 012 | 23 533 | 7 077 | 43 424 | 26 970 |
Adjusted EBITDA margin, % | 15,9 | 9,1 | 12,2 | 4,2 | 11,3 | 7,5 |
Equity ratio, % | 63,9 | 55,1 | - | - | - | 60,9 |
Cash flow from operating activities, MSEK | 5,4 | 11,3 | 21,0 | 8,7 | 5,7 | -6,7 |
Net debt/EBITDA, R12M | - | - | - | - | 0,0 | 0,8 |
Number of employees at end of period | 113 | 126 | - | - | - | 120 |
Comments by the CEO
The second quarter of the year offered a very positive development for
During the quarter, we have seen a continued improvement in the delivery situation for critical components and semiconductors, which continued to improve our delivery capability. However, we also had costs for purchases on the spot market during the second quarter, which is explained by the fact that previously ordered components were delivered during the quarter. Although we were still affected by some cost increases we managed to increase our gross margin by just over 1.2 percentage points to 71.6 percent during the quarter, due to price adjustments towards customers, internal efficiency and a favorable product mix. The move of our production for the US market from
During the quarter, we continued to invest in the group's joint sales organization and further integrated our operations. By building ONE TagMaster, we simplify and speed up processes with the aim of being able to better scale our commercial offers within our various sales units. Concretely, it is about integrating our CRM systems and our marketing, developing our sales efforts and spending more time with our prospects and customers both digitally and physically.
After completing the efficiency program, our latest acquisition,
During the period, we have continued to invest in technology leadership within our focus areas and develop more complete solutions that give our offer increased competitiveness. The focus is increasingly directed towards solutions that contribute to a more sustainable transport system where analysis, AI and
The group's turnover during the second quarter amounted to
The gross margin landed at 71.6 percent with an adjusted EBITDA result of
Our stock has increased sequentially during the quarter by approximately 18 percent as a result of the investment in maintaining a high level of service towards our customers and to manage imbalances in the delivery supply chain. Accounts receivable have increased sequentially during the quarter by approximately 9 percent but are at the same level as the same period in 2022. The work to reduce working capital has continued focus.
Today,
CEO
Reporting
During the business year 2023
This report and previous reports and press releases are found at the company home page https://www.tagmaster.com.
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