Press release,
Increased net sales and gross margin despite difficult component situation
Third quarter 2021
- Net sales increased during the third quarter by 12,7% to 80,0 MSEK (71,0). Currency translations had a negative effect of 0,7 MSEK on net sales.
- Adjusted EBITDA decreased during the third quarter by 3,3% to 8,4 MSEK (8,6), corresponding to an adjusted EBITDA margin by 10,4 % (12,2)
- Operating profit/loss was 1,7 MSEK (2,7) which correspond to operating margin of 2,1% (3,9)
- Profit for the period was 1,7 MSEK (3,3)
-
Result per share was 0,11
(0,23) SEK 1 - Cash flow from operating activities for the period was -5,3 MSEK (8,9)
January -
- Net sales increased during the nine-month period by 11,3% to 243,4 MSEK (219,0) Currency translations had a negative effect of 12,1 MSEK on net sales.
- Adjusted EBITDA increased during the period by 32,1% to 28,9 MSEK (21,9), corresponding to an adjusted EBITDA margin by 11,9% (10,0)
- Operating profit/loss was 11,2 MSEK (-13,6) which correspond to operating margin of 4,6% (-6,2)
- Profit for the period was 10,1 MSEK (-17,8)
-
Result per share was 0,69
(-1,21) SEK 1 - Cash flow from operating activities for the period was 12,5 MSEK (16,9)
-
On
April 30, 2021 ,TagMaster acquired Citilog SAS with a yearly turnover of approximately 5,8 M€ -
At the Annual General Meeting on
April 29, 2021 , it was decided to carry through a reversed split of Series B shares 1:25.May 6 was the first day of trading after the reversed split. The number of Series B shares after the reversed split amounts to 14,647,526, which means a quota value of approximately1,25 SEK per share.
Amounts in TSEK | 2021 July-Sept | 2020 July-Sept | 2021 Jan-Sept | 2020 Jan-Sept | R12M Oct-Sept | 2020 Full Year |
Net sales | 80 017 | 70 970 | 243 354 | 218 665 | 311 142 | 286 453 |
Net sales growth, % | 12,7 | -13,9 | 11,3 | 21,9 | 3,0 | 8,9 |
Gross margin, % | 72,0 | 66,0 | 66,9 | 65,0 | 67,1 | 65,7 |
Adjusted EBITDA | 8 353 | 8 643 | 28 880 | 21 859 | 34 351 | 27 329 |
Adjusted EBITDA margin, % | 10,4 | 12,2 | 11,9 | 10,0 | 11,0 | 9,5 |
Equity ratio, % | 52,1 | 56,3 | - | - | - | 55,7 |
Cash flow from operating activities, MSEK | -5,3 | 8,9 | 12,5 | 17,0 | 23,1 | 27,4 |
Net debt/EBITDA, R12M | - | - | - | - | 0,7 | -0,2 |
Number of employees at end of period | 138 | 99 | - | - | - | - |
1Adjusted retroactively for the reversed split 1:25
Comments by the CEO
During the past quarter, a further gradual opening has taken place in several of our markets, while the global component shortage has to some extent held back development. Despite the challenging component situation, the gross margin for the quarter is the best in
During the quarter, we worked intensively with proactive and continuous measures to ensure that a robust supply chain is maintained and have managed to avoid serious disruptions to customer delivery. We estimate that the loss in sales of inhibited deliveries as a result of the component shortage amounted to 4-5 percent of sales during the third quarter, corresponding to just under
During the quarter, we also experienced increased costs for both components and input goods, which affected the gross margin. We have compensated for these increasing component costs through price increases, which partly had an impact during the quarter, but where there is a delay effect of one to two quarters. We expect continued challenges in the coming quarters and we will proactively implement measures to limit the impact.
We continue to invest in technology leadership in all our areas to further increase the competitiveness of our offering. The focus is increasingly on solutions that can contribute to a more sustainable transport system and where analysis, AI and Deep learning is crucial, which thus take us up in the value chain.
The acquisition of
The Group's sales during the third quarter amounted to
The gross margin for the quarter was 72.0 percent with an adjusted EBITDA result of
CEO
Auditor's review
This report has been reviewed by the company auditor.
Reporting
During the business year 2022
This report and previous reports and press releases are found at the company home page www.tagmaster.com
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