"The fourth quarter and 2023 as a whole are clear proof points in our attractive business model and disciplined approach to cost development. Despite limited revenue growth, our EBITDA margin remained strong with 14.7% in the fourth quarter and 18.0% in 2023 as a whole. Our operating cash flow was also significantly improved in the fourth quarter compared to the same period in 2022. All in all, this means that the financial performance of the company is in line with our long-term aspirations," says Magnus Grenfeldt, Chief Executive Officer of Smartoptics.
Smartoptics reported revenues in the fourth quarter of 2023 of
"As previously communicated, the market sentiment in 2023 was weaker than previous years because of the general economic softness curbing the investment spend in the industry. This particularly affected our business related to 5G roll out in
The market for fiber optical network equipment is worth
In 2024, several factors are expected to contribute to a reinstallation of growth as signals from industry majors and market analysts indicate that the US market is set return to growth, particularly in the second half of 2024. In addition, new product launches and the emergence of new markets will add momentum. The broadened product offering, both software and hardware, will enable Smartoptics to become a much more relevant vendor for large network operators.
"The quality of our dialogue with such major accounts is continuously improving, and we target to secure major accounts in 2024. On this positive backdrop, assuming the market sentiment in our main markets return to normal during 2024, we maintain our long-term ambitions of growing our revenue up to
The Board of Directors proposes to the Annual General Meeting 8
QUARTERLY PRESENTATION:
Smartoptics will host a presentation of the results by CEO
Date: Thursday
Time:
Venue:
Language: English
Link: https://channel.royalcast.com/hegnarmedia/#!/hegnarmedia/20240215_18
A recorded version of the presentation will be available after the live stream is concluded.
Please find the full financial report and presentation enclosed.
*) EBITDA and other alternative performance measures (APMs) are defined and reconciled to the IFRS financial statements as a part of the APM section of the fourth quarter 2023 financial report on page 13.
For further information, please contact:
Magnus Grenfeldt
CEO Smartoptics
+46 73-366 88 77
E-mail: magnus.grenfeldt@smartoptics.com
About Smartoptics:
Smartoptics provides innovative optical networking solutions and devices for the new era of open networking. Our customer base includes thousands of enterprises, governments, cloud providers, Internet exchanges as well as cable and telecom operators. We have an open networking approach in everything we do which allows our customers to break unwanted vendor lock-in, remain flexible and minimize costs. Our solutions are used in metro and regional network applications that increasingly rely on data center services and specifications. Smartoptics is a Scandinavian company founded in 2006. We partner with leading technology and network solution providers such as Brocade,
For additional information about Smartoptics, please visit https://smartoptics.com
This information is considered to be inside information pursuant to the EU Market Abuse Regulation and is subject to the disclosure requirements pursuant to Section 5-12 the Norwegian Securities Trading Act. This
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