Eventful quarter with improved cashflow
The quarter in summary
- Doro’s net sales amounted to
SEK 443.2 million (521.4), a decrease of 15.0 percent. - Net sales for business area
Doro Care wereSEK 124.2 million (119.1), an increase of 4.3 percent and for business area Doro Phones wereSEK 319.0 million (402.3), a decrease of 20.7 percent. - Gross margin increased to 32.4 percent (31.1). For
Doro Care , the gross margin increased to 40.8 percent (39.6) and for Doro Phones the gross margin increased to 29.1 percent (28.6). - EBITDA amounted to
SEK 53.2 million (57.3), a decrease of 7.2 percent. - Operating profit (EBIT) amounted to
SEK 31.7 million (33.8), excluding restructuring costs ofSEK 6.7 million , corresponding to an operating margin of 7.2 percent (6.5). Including restructuring costs, EBIT amounted toSEK 25.0 million (33.8) with an operating margin of 5.6 percent (6.5). - Profit after tax for the period was
SEK 18.7 million (23.0) and profit per share wasSEK 0.79 (0.97). - Free cash flow before acquisitions was
SEK 145.1 million (40.8).
Message from the CEO
It has been another eventful quarter for Doro, we have taken several important steps forward in our ambition to become European market leader in technology enabled care. During the quarter, we completed two acquisitions whilst working to restructure the business. I am proud of the fantastic work that the Doro team has done during this intense period. Without their efforts and commitment, this would not have been possible, and together we will take steps towards becoming the leading player in the market.
The current pandemic has accentuated and accelerated some key market trends that influence our strategy and execution. Within business area
The acquisition of Victrix is a big step forward in our own software platform and strengthen our technical capability. Together with the launch of Eliza, we are a company with technology enabled care at the forefront. This enables us to offer more proactive solutions, create flexibility and speed with integrations to other systems and products. Victrix’s strong technical competence and extensive experience in technology enabled care fits well with our strategy and will be a great addition to Doro. Another key part of our strategy is to strengthen our position in the
During the past quarter, the slow market development within business area
Sales during the third quarter amounted to
Early in the quarter we announced that we had decided to restructure the business in order to maintain and consolidate our market leading position in
I am convinced that the important steps we have taken in our strategy during the quarter will support a profitable growth. I look forward to all the challenges and new opportunities we have ahead of us. Together we will create a better future for seniors.
WEBCAST
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