Third quarter 2021:
- Revenue amounted to
SEK 26.511 M (22.208), an increase of 19% - Profit before depreciation and amortization (EBITDA) amounted to
SEK -45.911 M (-38.699) - Operating profit/loss (EBIT) for the period was
SEK -53.906 M (-46.030) - Profit/loss after tax was
SEK -53.466 M (-151.610) - Earnings per share before and after dilution was
SEK -0.34 (-1.07) - Equity per share amounted to
SEK 2.75 (2.51) - Profit for the quarter was negatively affected by acquisition costs of
SEK 37.371 M relating to the acquisition of MixComm
January-
- Revenue amounted to
SEK 67.261 M (66.463), an increase of 1% -
Profit before depreciation and amortization (EBITDA) amounted to
SEK -83.762 M (-58.769) -
Operating profit/loss (EBIT) for the period was
SEK -107.717 M (-81.078) -
Profit/loss after tax was
SEK -108.596 M (-195.219) -
Earnings per share before and after dilution was
SEK -0.70 (-1.40) -
Equity per share amounted to
SEK 2.75 (2.51) -
Profit for the quarter was negatively affected by acquisition costs of
SEK 37.371 M relating to the acquisition of MixComm
Significant events in the third quarter:
- On
August 5 ,Sivers Semiconductors AB issued 3,300,000 Class C shares, which were subsequently repurchased by the Company. The purpose was to ensure delivery of shares to participants under the Company's outstanding incentive program and to secure liquidity for payment of social security contributions charges attributable to such incentive programs. -
On
August 30 ,Sivers Semiconductors announced the establishment of its first US office, employing its first localemployee inCalifornia , US. -
On
September 17 ,Sivers Semiconductors announced that its Japanese lead customer Fujikura, following several successful customer trials, is now preparing to start signing agreement for the start of full-scale volume production of its 60 GHz communication module. -
On
September 20 , Håkan Rippe was appointed new Chief Financial Officer (CFO) for the Group. -
On
September 22 ,Sivers Semiconductors announced thatSivers Wireless is launching the new highly integrated, 5G-NR-RFIC chip, TRB02801 and TRB03901, together with RFIC and RF antenna modules, BFM02801 and BFM03901, which cover all licensed 5G mmWave bands. -
On
September 30 ,Sivers Semiconductors announced that Sivers Photonics will develop CW-WDM MSA compatible laser arrays that supportAyar Labs' optical I/O solution.Ayar Labs is the leader in integrated optical I/O and is pushing the boundaries for AI, cloud, high performance computing, 5G and LIDAR.
Significant events after the end of the period:
- On
October 14 ,Sivers Semiconductors announced that it had signed an agreement relating to the acquisition of all the shares inMixComm, Inc , a US challenger in the development of chips for mmWave technology, for a purchase consideration ofUSD 135 M (approx.SEK 1,173 M). The seller is also entitled to a performancebased purchase consideration of a maximum ofUSD 20 M (approx.SEK 174 M) provided that certain commercial milestones relating to customers are reached. -
On
October 14 ,Sivers Semiconductors completed a directed new issue of 17,021,277 ordinary shares, raising someSEK 400 M for the Company. The subscription price in the directed new issue wasSEK 23.5 per share. Sivers Semiconductors AB held an Extraordinary General Meeting onNovember 11, 2021 . The EGM resolved to authorize the Board to complete a non-cash issue of a maximum of 39,405,594 ordinary shares (including an additional maximum of 70,000 ordinary shares from adjustments for net cash position) against settlement in the form of shares in MixComm and departing from shareholders' preferential rights, offset issue of a maximum 6,993,007 ordinary shares for payment of performance-based compensation in connectionwith the acquisition of MixComm. In addition, Todd Thomson (Chief Operating and Financial Officer of US venture capitalistsKairos Ventures ), was appointed to the Board ofSivers Semiconductors AB .
Key performance indicators
2021 Jul-Sep | 2020 Jul-Sep | 2021 Jan-Sep | 2020 Jan-Sep | 2020 Jan-Dec | |
Revenue | 26,511 | 22,208 | 67,261 | 66,463 | 96,170 |
EBITDA | -45,911 | -38,699 | -83,762 | -58,769 | -55,661 |
EBIT | -53,906 | -46,030 | -107,717 | -81,078 | -85,710 |
Profit/loss for the period | -53,466 | -151,610 | -108,596 | -195,219 | -195,782 |
Earnings per share before and after dilution, SEK | -0.34 | -1.07 | -0.70 | -1.40 | -1.37 |
Equity per share, SEK | 2.75 | 2.51 | 2.75 | 2.51 | 3.44 |
An online presentation of the Interim Report will be held at
Register for the webinar via: https://attendee.gotowebinar.com/register/1873434091805039628
CEO's Statement
Shortly after the end of the third quarter,
Our joint IP portfolio will cover the entire spectrum of potential areas of use for mmWave, such as unlicensed 5G, licensed 5G infrastructure, fixed wireless access (FWA), customer premises equipment (CPE) and satellite communication (
We made positive progress in the third quarter. We continued to expand the customer base and maintained an excellent dialog with new and existing customers and partners. We are seeing positive signs that the pandemic is easing its grip, although it still has an inhibitory effect on growth. Net sales were
Profit was negatively affected by non-recurring transaction costs attributable to acquisition costs. Last year we had provisions for social security expenses for employee stock options of a similar scale. Adjusted for these items, profit decreased slightly compared to the previous year, mainly due to planned increased personnel costs. To secure future growth, total staff reached 126 at the end of the quarter, an increase of 23 in year-on-year terms. We opened the first office on our largest market in the US in the quarter, where our first Photonics sales executive in this market is now based, in addition to 20 new colleagues at MixComm in the US who will soon be part of the family.
Activity was high in the quarter and we made several important announcements. This included our Japanese lead customer Fujikura preparing to start signing agreement for the start of full-scale, high-quality volume production of its 60 GHz communication module including a baseband modem, antenna and 5G chips (RFIC TRX BF/01) sourced from us. Alongside MixComm, we have 44 design wins including 16 expected to enter volume production within the coming 12 months. Fujikura is now preparing for large-scale production, which is an important milestone.
We also made advances in Photonics. For example, we will develop laser arrays that support
In connection with signing the acquisition agreement with MixComm, we completed a directed new issue of some
expansion.
Many of our customers are moving towards volume production and we areconfident about the future. As societies start to open up again, we foresee considerable potential to capitalize on the hard work we have put into the company. Our competitive products and strong global network and the acquisition of MixComm ensure that we are well equipped for the future. We are in an excellent position and I remain optimistic about the future.
For more information, please contact:
Tel: +46 (0) 702 62 63 90
E-mail: anders.storm@sivers-semiconductors.com
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