ZETADISPLAY AB (publ) INTERIM REPORT 1 JANUARY – 30 SEPTEMBER 2023
November 30 2023 - 2:00AM
ZETADISPLAY AB (publ) INTERIM REPORT 1 JANUARY – 30 SEPTEMBER 2023
Continued SaaS growth in the third
quarter
July – September 2023
• SaaS revenues increased by 14.3% to SEK 55.3
(48.4) million• ARR amounted to SEK 219.7 (192.2) million compared
to last year• Net sales were SEK 115.4 (129.9) million, 11.2%
behind last year• Gross margin strengthened to 63.0% (57.0%)•
Adjusted EBITDA was SEK 17.4 (21.5) million• Operating loss was SEK
-15.8 (-7.6) million
January – September 2023
• SaaS revenues increased by 11.6% to SEK 159.0
(142.5) million• Net sales remained broadly flat year on year, SEK
359.9 (367.1) million• Gross margin improved to 61.3% (58.1%)•
Adjusted EBITDA was lower than the prior year at SEK 42.8 (50.4)
million• Operating loss was SEK -22.5 (profit 1.9) million
CEO comment Q3
Continued SaaS growth in the third quarter
Net sales for the quarter amounted to SEK 115.4 (129.9) million.
SaaS revenues were SEK 55.3 (48.4) million and represented 47.9%
(37.3%) of net sales. Reported EBITDA was SEK -3.8 (17.2) million.
Adjusted for Hanover costs and non- recurring items, EBITDA
amounted to SEK 17.4 (21.5) million.
Our third quarter was characterized by a continued growth in
SaaS revenues. During the quarter we have successfully concluded
the acquisition of PeakMedia Digital Signage GmbH in Austria,
expanding our European footprint and supporting our growth ambition
in the DACH region. We’ve seen steady activity from our
international customer base, but simultaneously noted on-going
customer project delays given the market backdrop. We also
continued to evolve our organizational structure with positive
early results. During the quarter, we have continued to expand our
strategic commercial work across the group with enterprise customer
development to further scale our international service and product
range.
Outlook
Our long-term plan and investment initiatives for growth are
further strengthening our market position. The recent acquisition
of PeakMedia will further support both short- and long-term growth.
At the same time, we continue to see some uncertainty in the short-
term market conditions as well as temporary delays in some customer
projects. We’re effectively handling delayed lead times in some
customer projects.
As before we continue to actively monitor market development and
to manage costs diligently whilst prioritizing key investments for
long-term growth and customer focus.I would like to thank all our
co-workers for their tireless commitment and thank our customers
for their continued trust as well as thank Per Mandorf as he now
steps down and hands over the CEO role.
Malmö, November 30, 2023
Anders Olin
President and CEO
Full Q3 report attached and available
on https://ir.zetadisplay.com/
This report has not 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 Anders Olin, at 08.00
CET on 30 November 2023.
For further information please contact:
Anders Olin, President & CEOMobile: +46 761-01 14
88E-Mail: anders.olin@zetadisplay.com
Jog Dhody, Interim CFOMobile: +44 778 652
0802E-Mail: jog.dhody@zetadisplay.com
Robert Bryhn, CMO / Head of CommunicationMobile: +46 709-80 20
80E-Mail: robert.bryhn@@zetadisplay.com
ABOUT ZETADISPLAY
Founded in 2003, 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 and
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 SEK
+500 million and employs approx. 220 co-workers in offices
in seven European countries. In total, the company
manages more than 100.000 licensed installations globally in
more than 50 markets. ZetaDisplay is owned by the investment
company Hanover Investors. More investor related information
at www.ir.zetadisplay.com and www.hanoverinvestors.com
- Interim Report January - September 2023
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