"We achieve growth of 11% for the full year of 2023. We strengthen operating income by more than 30% for the full year. We have brought
REVENUES EXCEEDED MSEK 500 FOR THE FIRST TIME (+11%), OPERATING PROFIT INCREASED BY 34% AND RECURRING REVENUES REACHED RECORD-HIGH MSEK 306 FOR THE FULL YEAR 2023
- MSEK 124 Net revenue, +3%
- MSEK 79 Recurring revenue, +11%
- 7.8% EBIT margin (2.9%)
October –
- Net revenue MSEK 123.8 (120.1)
- Recurring revenue MSEK 78.5 (70.8)
- Order intake MSEK 89.6 (109.2)
- EBITDA MSEK 17.8 (-9.6)
- EBITDA margin 14.4% (-8.0%)
- Operating income (EBIT) MSEK 9.6 (-17.7)
- Operating margin 7.8% (-14.8%)
- Operating income (EBIT), adjusted MSEK 9.6 (3.5)
- Operating margin, adjusted 7.8% (2.9%)
- Earnings per share
SEK 0.36 (-1.26) - Cash flow from current operations MSEK 14.4 (9.6)
January –
- Net revenue MSEK 503.5 (455.2)
- Recurring revenue MSEK 306.3 (276.8)
- Order intake MSEK 395.4 (407.6)
- EBITDA MSEK 97.5 (59.8)
- EBITDA margin 19.4% (13.1%)
- Operating income (EBIT) MSEK 64.1 (28.6)
- Operating margin 12.7% (6.3%)
- Operating income (EBIT), adjusted MSEK 66.7 (49.8)
- Operating margin, adjusted 13.2% (10.9%)
- Earnings per share
SEK 2.92 (0.89) - Cash flow from current operations MSEK 62.6 (29.7)
- The Board of directors proposes a dividend of
0,60 SEK per share (0) for 2023
Significant events during the fourth quarter
UNC Health signs framework agreement withQleanAir Scandinavia Inc in the US to provide consulting services for pharmacies.QleanAir delivered 6.96 billion cubic meters of cleaned air in the end of the third quarter.- The election committee has been appointed for the 2024 AGM.
- An extraordinary general meeting has been held in
QleanAir AB , where a partly new board was elected. QleanAir inJapan signs large order for high-performance air cleaners withNEC Networks & System Integration Corporation Huntsville Memorial Hospital inHuntsville, Texas purchases a cleanroom solution fromQleanAir funded byWalker County Hospital District .
Significant events after the end of the period
QleanAir delivered 7,21 billion m3 of cleaned air in the end of the fourth quarter.
A WORD FROM THE CEO
We achieve growth of 11% for the full year of 2023. We strengthen operating income by more than 30% for the full year. We have brought
Operating margin was 7.8% in the quarter and 13.2% for 2023. This is a clear improvement compared to 2022, and our focus is on improving it further. The priority for 2024 is to achieve growth combined with improved profitability. A customer-centric approach and sales efficiency have really taken EMEA to a higher level with momentum going into 2024. APAC is focused on capitalizing on our market position in Cabin Solutions and continuing to grow Air Cleaners. The
POSITIVE TURNAROUND IN
EMEA represented 53% of net revenue and 47% of order intake in the fourth quarter. Activities leads to more activities and in the fourth quarter we see the result of our program for profitable growth. In
FOCUS ON EXPANSION IN
APAC represented 41% of net revenue and 50% of the order intake in the quarter. Focus is on expansion and
FOCUS ON PROFITABILITY IN THE US
GROWTH AND PROFITABILITY
Growth and profitability are our goals and we will achieve this through our three priorities; Customer Focus, Sales Efficiency and Cost Control. We continue to work with these focus areas. Further, we intensify our work with operational efficiency where there is still cost savings to be made. We have gradually during the fourth quarter shifted focus towards the strategic product side.
BUSINESS MODEL
The
As a company, we know where we are going. We have great opportunities to create value. Our business model is circular, i.e. our products have a long life with our customers through our strong service model, and at the end of the contract we recondition the product to give it a new life for the next customer.
We clean indoor air by reducing harmful particles. The working environment for people is improved. Furthermore, the quality of customers' products and the efficiency of their processes is improved. We work systematically on growth combined with profitability.
FUTURE OUTLOOK
In
We expect growth in EMEA in 2024 despite regional uncertainties. We have a strong position in Cabin Solutions, combined with growth in our markets for Air Cleaners.
In APAC, we have positive expectations for 2024 with a clear strategy to broaden sales to small and medium-sized companies within Cabin Solutions and continue to invest heavily in industrial air cleaning with Air Cleaners.
In the
I wish to thank all our dedicated employees, customers and partners for a wonderful collaboration.
Solna,
Sebastian Lindström, CEO
INVITATION TO THE PRESENTATION OT THE FOURTH QUARTER REPORT AND YEAR-END RESULT 2023
Lindström and CFO,
Link to watch the presentation online: https://ir.financialhearings.com/qleanair-q4-report-2023
Telephone number to dial-in and follow the presentation and ask questions: https://conference.financialhearings.com/teleconference/?id=50046667
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