Press release,
Strong growth and better component situation
First quarter 2023
- Net sales increased during the first quarter by 18,7% to 94,4 MSEK (79,5). The organic and currency adjusted growth amounted to 12,9 %.
- Gross margin was 70,4% (66,3)
- Adjusted EBITDA increased during the first quarter and amounted to 7,9 MSEK (-0,9) corresponding to an adjusted EBITDA margin by 8,3% and -1,2%.
- Operating profit/loss was 39 TSEK (-7,9 MSEK), corresponding to operating margin of 0,0% (-9,9).
- Profit/loss for the quarter was 0,3 MSEK (-8,6).
-
Result per share basic and diluted was
0,02 SEK (-0,59). - Cash flow from operating activities for the period was 15,6 MSEK (-2,6). The positive cash flow from operating activities is mainly explained by the decrease in accounts receivable.
Amounts in TSEK | 2023 Jan-March | 2022 Jan-March | R12M April-March | 2022 Full Year |
Net sales | 94 390 | 79 513 | 373 480 | 358 603 |
Net sales growth, % | 18,7 | 6,9 | 12,5 | 9,7 |
Gross margin, % | 70,4 | 66,3 | 69,2 | 68,3 |
Adjusted EBITDA | 7 879 | -935 | 35 784 | 26 970 |
Adjusted EBITDA margin, % | 8,3 | -1,2 | 9,6 | 7,5 |
Equity ratio, % | 61,5 | 53,0 | - | 60,9 |
Cash flow from operating activities, MSEK | 15,6 | -2,6 | 11,5 | -6,7 |
Net debt/EBITDA, R12M | - | - | 0,2 | 0,8 |
Number of employees at end of period | 117 | 132 | - | 120 |
For description and reconciliation of key figures, see pages 19-20.
Comments by the CEO
During the quarter, we experienced good demand for our solutions in combination with an improved situation in terms of component supply and therefore deliver a stable first quarter. The group's sales increased by almost 19 percent compared to the first quarter of 2022, mainly in
During the latter part of the quarter, we saw an improved delivery situation for critical components and semiconductors, which improved our delivery capability. However, we have during the period had continued high costs for spot purchases, which is explained by previously ordered components being delivered during the first quarter, while we have seen that the need for new spot purchases has decreased towards the end of the quarter.
We have also happily noted that the lack of capacity at our main European supplier, which previously hampered our delivery power, has been remedied and we are seeing more normal product deliveries. The move of our production from
Although, we were still affected by cost increases for both electronic components and consumables during the quarter, we managed to increase our gross margin by just over 4 percentage points to 70.4 percent via price adjustments towards customers, internal efficiency and a favorable product mix,
We completed the efficiency program in
After completing the efficiency program our latest acquisition,
During the period, we have continued to invest in technology leadership within our focus areas and we are developing more complex 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 first quarter amounted to
The gross margin landed at 70.4 percent with an adjusted EBITDA result of
Our stock has increased sequentially during the quarter by approximately ten percent as a result of the effort to maintain a high level of service towards our customers and to manage imbalances in the delivery supply chain. The work to reduce the working capital has continued focus and accounts receivable have decreased by approximately 21 percent during the quarter.
Today,
CEO
Auditor's review
This report has not been reviewed by the company auditor.
Reporting
During the business year 2023
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-january-to-march-2023,c3760294
https://mb.cision.com/Main/1590/3760294/2019385.pdf
(c) 2023 Cision. All rights reserved., source