InCoax's sales growth continued during the fourth quarter, and for the full year 2023, the financial goal of doubling sales compared to 2022 was exceeded with a margin. The MoU with Nokia during the fourth quarter lays the groundwork for continued strong growth.
Financial performance
October -
- Net sales amounted to
SEK 22,650,678 (14,611,207), the turnover, which positively contributed to exceeding the originally communicated target for the full year and was driven partly by sales to a US-based FiberLAN operator and partly by sales of home network solutions. -
Operating profit amounted to
SEK -5,484,604 (-3,254,341), a change driven by an increase in variable OPEX cost. -
Earnings after tax amounted to
SEK -5,375,025 (-3,629,222), and earnings per share amounted toSEK -0.07 (-0.05). -
The period's cash flow incl. financing activities was
SEK 5,199,465 (34,718,500).
Full-year 2023
- Net sales amounted to
SEK 59,619,447 (25,922,260), the turnover, which surpassed the originally communicated goal and was driven partly by sales to a US-based FiberLAN operator and partly by sales of home network solutions. -
Operating profit amounted to
SEK -16,729,885 (-22,629,647). -
Earnings after tax amounted to
SEK -16,908,631 (-22,815,010), and earnings per share amounted toSEK -0.23 (-0.32). -
The cash flow incl. financing activities for the full year was
SEK -21,306,144 (2,012,771).
Significant events during the quarter
InCoax Networks AB (publ) publishes appointed Nomination Committee.InCoax Networks AB Interim Report, July -September 2023 .-
InCoax receives an order of
1.8 million USD (19.9 million SEK ) from the US-based FiberLAN operator. -
InCoax receives add-on order of
USD 685k (SEK 7.2M ) from the US based FiberLAN operator. InCoax Networks AB communicates 2023 net sales are expected to exceed the financial target.InCoax Networks signs MoU with Nokia.-
InCoax announces a rights issue of approximately
SEK 52.6 million before issue costs. -
Notice of extraordinary general meeting in
InCoax Networks AB , 2023-12-19.
Significant events after the end of the quarter
- Bulletin from the extraordinary general meeting in
InCoax Networks AB . - InCoax publishes prospectus in connection with rights issue.
- InCoax secures orders of 545 kUSD (5.4 MSEK) from US-Based FiberLAN operator.
- InCoax publishes supplementary prospectus.
- InCoax announces outcome in rights issue, which was subscribed to 123%.
-
InCoax receives orders totaling
2 million USD (current value approximately21 million SEK ) from the US-based FiberLAN operator. -
From
March 1, 2024 ,Andreas Bergman has been appointed Chief Commercial Officer (CCO) and member of the management team of InCoax.Helge Tiainen remains in the InCoax management team as responsible for Business Development and Standardization.
Full the full report, please download the attached PDF. The full report is also available at incoax.com.
This information is such information as
For additional information, please contact:
jorgen.ekengren@incoax.com
+46 73 899 55 52
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https://news.cision.com/incoax-networks-ab/r/incoax-networks-ab-year-end-report-2023,c3942770
https://mb.cision.com/Main/15562/3942770/2656010.pdf
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