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2022-11-30

ZETADISPLAY AB (publ) INTERIM REPORT 1 JANUARY – 30 SEPTEMBER 2022

Summary

July - September 2022
• Net sales increased by 27.8 % to SEK 129.9 (101.6) million. Adjusted for currency effects, sales increased by 23.1% to SEK 125.1 (101.6) million.
• SaaS revenues increased by 8.9 % to SEK 48.4 (44.5) million.
• ARR amounted to SEK 192.2 million. compared to (187.9) MSEK previous quarter
• EBITDA amounted to SEK 17.2 (13.2) million. Adjusted for non-recurring items, EBITDA amounted to SEK 17.2 (24.0) million.
• Operating profit amounted to SEK 7.6 (4.3) million.

January - September 2022
• Net sales increased by 23.1 % to SEK 367.1 (298.1) million.
• SaaS revenues increased by 11,3 % to SEK 142.5 (128.1) million.
• EBITDA amounted to SEK 31.0 (34.8) million. Adjusted for non-recurring items, EBITDA amounted to SEK 33.9 (54.4) million.
• Operating profit amounted to SEK 1.9 (8.4) million.

 

CEO comment Q3

Strong growth and implementation of strategic initiatives

ZetaDisplays net sales amounted to SEK 129.9 (101.6) million, which is an increase of 27.8% compared to the same period last year. Adjusted for currency effects, sales increased by 23.1% to SEK 125.1 (101.6) million. SaaS revenues amounted to SEK 48.4 (44.5) million and accounted for 37.3 (43.8) % of net sales. ARR was reported at SEK 192.2 million and EBITDA amounted to SEK 17.2 (13.2) million. Adjusted for non-recurring items, EBITDA was SEK 17.2 (24.0) million.
Net sales are attributable to increasing activity in the market. Project sales were 42.5% higher than the corresponding period last year and were reported at SEK 81.4 (57.1) million. Gross profit amounted to SEK 74.0 (65.5) million, corresponding to a gross margin of 57.0 (64.4) %. The margin was affected by a higher share of project sales compared to the previous year.

Comment

During the quarter, we experienced increased business activity, both among our existing customers and in new customer sales. Our framework agreements continue to develop according to plan, accelerating growth in all parts of our offering and contributing to our international expansion. During the quarter, we made several new installations in existing and new markets. The implementation of the Group strategic initiatives is progressing according to plan and strengthens the ability in all parts of the organization. It gives us good opportunities for continued growth in the short and long term. We are also seeing increased activity regarding new business opportunities in new customer sales. This is as a result of the investments we have made in our offering and our organization, which has strengthened our ability.

Outlook

We closely follow developments in the market and in the rest of the world. Through our strong partnership with leading suppliers and through coordination within the group and a stable international customer portfolio, we are well prepared to be able to manage any effects. Our assessment is that the market will continue to show stable growth during the current year.
Our performance has been strong during the quarter. I would like to thank our employees for their strong commitment and our customers for the trust we receive. During the quarter, we continued to invest in the future, which creates confidence for continued scalable growth in a growing market.

Malmö, November 30, 2022

Per Mandorf

President and CEO

 

Full Q3 report attached and available on https://ir.zetadisplay.com/

This report has been subject to review by the company's auditor.

This information is information that ZetaDisplay AB (publ) is obliged to make public pursuant to the EU Market Abuse Regulation. The information was submitted for publication, through the agency of Per Mandorf, at 15.00 CET on 30 November 2022.

 

For further information please contact:

Per Mandorf, President & CEO
Mobile: +46 704-25 82 34
E-Mail: per.mandorf@zetadisplay.com

Michael van Straten, CFO
Mobile: +45-538-482 83
E-Mail: michael.vanstraten@zetadisplay.com

Robert Bryhn, CMO / Head of Communication
Mobile: +46 709-80 20 80
E-Mail: robert.bryhn@@zetadisplay.com

About ZetaDisplay

ZetaDisplay is a leader in the Nordic region and second in Europe and we drive the digital transformation in physical environments on a daily basis. Our solutions, concepts and software digitize, influence and inform people's behavior at the time of decision-making in stores, in public environments and in workplaces. Our solutions are known as Digital Signage which we develop and offer as SaaS solutions. We are a global leader that actively influences the development of the international Digital Signage market organically, through innovation and through acquisitions.
ZetaDisplay is based in Malmö, has a turnover of approximately SEK +500 million and employs 220 employees in offices in six European countries. In total, the company manages over 80,000 installations in more than 50 markets. ZetaDisplay is owned by the British investment company Hanover Investors. More information at www.ir.zetadisplay.com and www.hanoverinvestors.com

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