222% sales growth with positive result and improved gross margin
Group Financial Summary of first quarter, 1st January -
- Net sales 41,069 KSEK (12,743)
- Order intake 35,417 KSEK (28,291)
- Orders from 21 customers, of which 5 new during the period
- EBITDA 3,874 KSEK (-4,173)
- Operating profit 2,590 KSEK (-5,288)
- Cash flow from operations -7,051 KSEK (-8,215)
- Earnings per share 0,05 (-0,11)
- Life Cycle Assessment -68% kg CO2e during operations of products
CEO’s statement
The group's sales ofSEK 41 million during the quarter are slightly higher than the record sales during Q4 2022. The sales growth is 222% compared to the same period last year. Furthermore, we deliver an all-time high result with an operating profit of approximatelySEK 2.6 million , which gives an operating margin of 6%.The order intake of 35 million comes from 21 different customers, of which 5 are completely new. Compared to the same quarter last year, the number of ordering customers was 12, which is an increase of 75% in the number of ordering customers. The order book at the end of the period isSEK 198 million .The availability of IC components has improved and lead times are also starting to get shorter. With current developments in the component market, lead times for IC components will be halved during the year. With a favorable product mix in the quarter's sales, slightly lower costs for materials and to some extent adjusted product prices, we reach a gross margin of 36%, which is slightly better than expected and clearly higher than the same period last year (28%).The group's expansion continues within existing regions where, in addition to existing framework agreements, we win new customers and projects in more countries. The geographical share of sales is growing in both theMiddle East andAsia . Business development continues in the American market, where projects are now being evaluated with partners and end customers. Our subsidiaryMaven Wireless Inc. is established with its own sales staff, and we have several partner agreements in place to speed up business development. After the end of the period, we have had our TETRA products approved for data centers with Microsoft as the end customer. Rollout has started inEurope withItaly ,Ireland ,Spain andHolland as the first countries. Microsoft has over 200 data centers that we can address with this solution. Furthermore, we have signed a new framework agreement with ONE Nordic and have taken home a first tender order of aroundSEK 9 million for an infrastructure project inSweden . This framework agreement further strengthens our position in the Nordic region. Furthermore, inSweden we have won additional projects both for the correctional service and for hospitals where our digital DAS solution will be used. In addition, orders continue for the mining industry withLKAB as the end customer with expansion in the Kiruna mine. InGermany , we have also won a project for the nationwide TETRA system BOS-NET.In theMiddle East , our local partner continues to expand a modern radio network with our unique Public Safety solution with both TETRA and Public Safety-LTE integrated in the same digital unit. Further inAsia , we have received additional orders forMarina Bay Sands in Singapore.The group's expansion continues at a high pace, primarily through an improved delivery capability and complete product offering with modern products and solutions which are fully digital with support for 5G.Sustainability and cyber security continue to be important areas with increasing focus from both our partners and end customers. Our energy-efficient and maintenance-free solutions are attractive both from an energy and cost perspective, but also from a sustainability perspective. We also offer secure systems that meet the requirements for cyber security in the future where end customers can be confident in meeting local laws on cyber security based around the EU directiveNIS-2 .Finally, our global expansion continues at a high pace according to plan where we continue to digitize society with our climate-smart and secure products with high bandwidth both for 5G and for other critical communications.
Fredrik Ekström - Group CEO
Significant events during the first quarter
With the new EPO approval, the company will validate the same patent in several of the European member states. This new patent protects Maven Wireless' digital DAS products and how the products transport data over the fiber network.
Significant events after the end of the period
The group has had its products approved to establish secure communication in Microsoft's data centres with the first rollout in
8 new patents are validated in
Including the newly granted patents in
The company receives a fourth patent in
Including the newly granted patents in
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