A record-breaking year and quarter, leads to profitability in Q4, 2023
Fourth-quarter revenue was
SEK 73.882 million , up 48% year-over-year (YoY).
Full-year revenue was
SEK 236.334 million , up 78% year-over-year (YoY).Adjusted EBITDA totaled
SEK 21.032 million (-16.943).Company is finalizing a
SEK 50 million loan facility extension with existing lenders; thus eliminating the need for capital contributions from shareholders.
Kista,
Fourth quarter October-
- Net sales amounted to
SEK 73.882 M (49.771), equivalent to an increase of 48%. Net sales increased by 42% at constant currency. -
Adjusted EBITDA totaled
SEK 21.032 M (-16.943). -
Profit/loss before depreciation and amortization (EBITDA) amounted to
SEK 13.515 M (-16.112). -
Operating profit/loss (EBIT) was
SEK -33.784 M (-41.842). -
Profit/loss after tax amounted to
SEK -46.382 M (-38.153). -
Earnings per share before and after dilution was
SEK -0.20 (0.18). -
Equity per share amounted to
SEK 5.10 (5.80).
January-
Net sales amounted to
SEK 236.334 M (132.607), equivalent to an increase of 78%. Net sales increased by 71% at constant currency.Adjusted EBITDA totaled
SEK -19.827 M (-75.277).Profit/loss before depreciation and amortization (EBITDA amounted to
SEK -33.654 M (-73.277).Operating profit/loss (EBIT) was
SEK -158.623 M (-185.096).Profit/loss after tax amounted to
SEK -157.384 M (-86.384).Earnings per share before and after dilution was
SEK -0.68 (-0.41).Equity per share amounted to
SEK 5.10 (5.80).
Key performance indicators
2023 Oct-Dec | 2022 Oct-Dec | 2023 Jan-Dec | 2022 Jan-Dec | |
Net sales | 73,882 | 49,771 | 236,334 | 132,607 |
Net sales growth, % | 48% | 113% | 78% | 46% |
Net sales growth, at constant currency, % | 42% | 80% | 71% | 30% |
Adjusted EBITDA | 21,032 | -16,943 | -19,827 | -75,277 |
EBITDA | 13,515 | -16,112 | -33,654 | -73,693 |
EBIT | -33,784 | -41,842 | -158,623 | -185,096 |
Profit/loss for the period | -46,382 | 38,153 | -157,384 | -86,384 |
Earnings per share before and after dilution, SEK | -0,20 | 0,18 | -0,68 | -0,41 |
Equity per share, SEK | 5.10 | 5.80 | 5.10 | 5.80 |
Significant events in the fourth quarter
Significant events after the end of the period
22 January - Sivers Photonics receives follow-up order from US Fortune 100 customer
30 January -
1 February -
An online presentation of the Year-End Report will be held at
Register for the webinar via: https://attendee.gotowebinar.com/register/4798746368595461983
CEO´s Statement
Significantly improved profitability and record year lay the foundation for the future
2023 was a record year. Sales exceeded
For the first time, we also delivered a positive adjusted EBITDA as well as EBITDA result, which for the fourth quarter were
The strong sales were a result of strong growth in Wireless, which increased by 110 percent compared to the corresponding quarter last year.
Photonics' sales cycles in the fourth quarter were temporarily longer than expected, but we are now seeing an increase in order intake and demand for our products from customers who deliver next-generation chips to the AI market, autonomous vehicles and smart sensors. After the end of the quarter, we have received another order from our US Fortune 100 customer, this is very gratifying and this order for new chips means that we feel confident that the project is progressing in a good way. Many of these orders will be delivered in 2024, additionally we see a strong pipeline for 2025.
Wireless' growth continues on a strong path and consistantly add new projects. During the quarter, we received an EU grant from HORIZON Europe of
In January, we also received an order of approximately
In November, for the fourth year in a row, we held a Capital Markets Day. The aim was to increase the understanding of our business and how Sivers contributes to industry trends of upgraded technology and infrastructure through innovative, competitive products. I am very proud that we have customers who see value in presenting with Sivers. This year we were joined by
2023 was an exceptional year of growth and we foresee continued growth for many years to come. During the last 12 months, we reported new orders of
Together with a continued optimization of costs, investments and capital structure, we expect our organic growth to take us to profitability. We are negotiating an extended loan facility of
I look forward to 2024 and especially in the near future when our most important fairs MWC and OFC will take place. I look forward to getting back to you on how these are going and sharing future successes we see coming during the year.
For more information, please contact:
Email: anders.storm@sivers-semiconductors.com
Tel: +46 (0)70 262 63 90
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