Press release,
Continued business focus and efficiency in combination with strategic acquisitions provide growth and profitability
October-
- Net sales increased during the quarter by 19,7 % to 125,3 MSEK (104,6). The organic and currency adjusted growth amounted to 2,5 %.
- Adjusted EBITDA increased during the quarter by 54,4 % and amounted to 22,7 MSEK (14,7) corresponding to an adjusted EBITDA margin by 18,1 % (14,0).
- Operating profit was 7,3 MSEK (2,6), corresponding to an operating margin of 5,8 % (2,4).
- Profit/loss for the quarter was 6,8 MSEK (38,0).
-
Result per share basic and diluted was
0,47 SEK (2,59). - Cash flow from operating activities for the period was 3,4 MSEK (1,2).
January-
- Net sales increased during the year by 12,9 % to 404,7 MSEK (358,6). The organic and currency adjusted growth amounted to 3,4 %.
- Adjusted EBITDA increased during the year by 112,0 % and amounted to 57,2 MSEK (27,0) corresponding to an adjusted EBITDA margin by 14,1 % (7,5).
- Operating profit/loss was 15,3 MSEK (-7,1), corresponding to an operating margin of 3,8 % (-2,0).
- Profit/loss for the year was 13,7 MSEK (24,2).
-
Result per share basic and diluted was
0,93 SEK (1,65). - Cash flow from operating activities for the year was 28,5 MSEK (-6,7).
-
On
August 31 stTagMaster , through its US subsidiarySensys Networks , acquired the radar division (RTMS) from Image Sensing Systems (ISS). The purchase price was 4,8 MUSD (51,5 MSEK). - The board does not propose dividends for 2023.
Amounts in TSEK | 2023 Oct-Dec | 2022 Oct-Dec | 2023 Full Year | 2022 Full Year |
Net sales | 125 260 | 104 602 | 404 711 | 358 603 |
Net sales growth, % | 19,7 | 25,2 | 12,9 | 9,7 |
Gross margin, % | 61,4 | 68,5 | 68,5 | 68,3 |
Adjusted gross margin, % | 66,7 | 68,5 | 70,1 | 68,3 |
Adjusted EBITDA | 22 662 | 14 677 | 57 174 | 26 970 |
Adjusted EBITDA margin, % | 18,1 | 14,0 | 14,1 | 7,5 |
EBITDA | 16 029 | 10 871 | 48 296 | 23 164 |
EBITDA margin, % | 12,8 | 10,4 | 11,9 | 6,5 |
Equity ratio, % | - | - | 60,5 | 60,9 |
Cash flow from operating activities, MSEK | 3,4 | 1,2 | 28,5 | -6,7 |
Net debt/EBITDA, R12M | - | - | 0,9 | 0,8 |
Number of employees at end of period | - | - | 115 | 120 |
Comments by the CEO
During the fourth quarter, we saw further evidence that our strategic investment in a combination of organic and acquired growth is working well. Turnover for
At group level, the fourth quarter produced record high sales combined with cost control and thus an improved adjusted EBITDA result that was 54 percent better compared to the same period in 2022. For the full year 2023, the improvement compared to 2022 was also good and the group's total turnover was
The good development for both growth and results during the fourth quarter and the full year 2023 is very gratifying and shows that our hard and focused work is paying off. It also gives us high hopes for continued success in the new year.
With our latest acquisition, we strengthen our American operations' offering by being able to offer both sensor solutions for ground installation and a series of high-performance radar-based sensor solutions for installation above ground. We are therefore better positioned to meet the growing demand for multi-sensor solutions. We also see great potential in continuing to develop products and sales in both the American market and through our global partner network.
During the quarter, we continued to invest in the sales organization and further integration of our operations. By building ONE TagMaster, we simplify and speed up processes with the aim of being able to better scale up our commercial offer within the various sales units. In concrete terms, it is about advancing our commercial position in sales and marketing, developing our sales work and spending more time with our prospective and existing customers both digitally and physically.
The group's sales during the fourth quarter amounted to
The adjusted gross margin at group level during the quarter landed at 66.7 percent with an adjusted EBITDA result of
Sequentially, our stock has decreased by approximately 13 percent, but compared to the corresponding quarter of the previous year, it has increased by 55 percent. In this increase, the acquisition of ISS radar operations is included with approximately 25 percent.
Today,
Financial calendar
This report and previous reports and press releases are found at the company home page www.tagmaster.com.
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