April -
Net sales increased by 6 percent to
SEK 7,021m (6,615).Gross profit increased by 20 percent to
SEK 2,322m (1,937).EBITDA rose by 36 percent to
SEK 715m (528).Adjusted EBITDA1 increased by 72 percent to
SEK 865m (503).The loss after tax for the quarter was
SEK -70m (-40).Basic earnings per share were
SEK -0.08 (-0.05) and diluted earnings per share wereSEK -0.08 (-0.05).Cash used in operating activities was
SEK -13m (668).
"The second quarter marks improvement throughout our business with robust profitability and improved organic growth in both revenues and gross profit." - Laurinda Pang, CEO
January -
Net sales increased by 6 percent to
SEK 13,948m (13,164).Gross profit increased by 14 percent to
SEK 4,582m (4,033).EBITDA rose by 20 percent to
SEK 1,408m (1,176).Adjusted EBITDA1 increased by 34 percent to
SEK 1,698m (1,264).The loss after tax for the period was
SEK -148m (48).Basic earnings per share were
SEK -0.18 (0.06) and diluted earnings per share wereSEK -0.18 (0.06).Cash flow from operating activities amounted to
SEK 199m (809).
Significant events during the quarter
Laurinda Pang acceded as the new CEO of Sinch on 17 April.
The Annual Report for 2022, including the company's Sustainability Report was published on the company's website on 21 April.
It was announced on 25 May that Sinch was named a leader in IDC MarketScape for CPaaS.
Sibito Morley was appointed the new Chief Data and Transformation Officer on 6 June.
Sinch launched AI-powered Smart Conversations that provides business customers with invaluable insights into customer journeys and customer intent.
As an element of the branding process, Inteliquent was replaced with "Sinch" and MessageMedia with "Sinch MessageMedia."
The cost reduction program initiated in
July 2022 has achieved the savings target communicated when the program was announced. Gross savings total approximatelySEK 360m on an annual basis, exceeding the target ofSEK 300m .
Significant events earlier this year
On
12 January 2023 , credit facilities ofSEK 6,500m andUSD 110m were extended by one year. The new maturity date isFebruary 2026 .Sinch launched "Operator Connect for Partners" on 23 March, which makes it possible for service providers and other partners to offer voice calling services via Microsoft Teams.
1) Adjusted EBITDA is reported to clarify performance in underlying operations. See Note 2.
Invitation to webcast and phone conference
Sinch will present the interim report in a webcast and phone conference on Friday,
Follow the link below to register to participate via phone conference. After you register, you will be given a phone number and conference ID to log into the conference. https://conference.financialhearings.com/teleconference/?id=200888
For additional information, please contact:
Ola Elmeland
Investor Relations
+46 72 143 34 59
investors@sinch.com
Thomas Heath
Chief Strategy Officer and Head of Investor Relations
+46 72 245 50 55
investors@sinch.com
Roshan Saldanha
Chief Financial Officer
+46 73 660 24 19
investors@sinch.com
About Sinch
Sinch powers meaningful conversations between businesses and their customers through its Customer Communications Cloud. More than 150,000 businesses - including many of the world's largest tech companies - rely on Sinch and its global super network, which is the most secure and reliable network for messaging, voice and email. Sinch has been profitable and fast-growing since it was founded in 2008. It is headquartered in Stockholm, Sweden, with shares traded at NASDAQ Stockholm: XSTO:SINCH. Learn more at sinch.com.
Note:
This report is published in Swedish and English. In case of any differences between the English version and the Swedish original text, the Swedish version shall apply. This report has not been subject to review by the company's independent auditors.
https://news.cision.com/sinch-ab/r/interim-report--january-june-2023,c3807987
https://mb.cision.com/Main/22250/3807987/2198661.pdf
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