Sinch AB: Interim report, January - September 2024
July –
- Net sales decreased by 2 percent to SEK 7,150m (7,265).
- Gross profit decreased by 1 percent to SEK 2,406m (2,433).
- EBITDA decreased by 6 percent to SEK 799m (848).
- Adjusted EBITDA decreased by 2 percent to SEK 923m (943).
- An impairment of goodwill of SEK 6,000m had negative impact on quarterly results and Sinch is reporting a loss after tax of SEK -6,095m (46).
- Basic earnings per share were SEK -7.22 (0.05) and diluted earnings per share were SEK -7.22 (0.05).
- Cash flow from operating activities amounted to SEK 437m (862).
January –
- Net sales decreased by 1 percent to SEK 20,983m (21,213).
- Gross profit grew by 1 percent to SEK 7,103m (7,015).
- EBITDA rose by 5 percent to SEK 2,359m (2,256).
- Adjusted EBITDA decreased by 2 percent to SEK 2,584m (2,642).
- The loss after tax for the period was SEK -6,089m (-102).
- Basic earnings per share were SEK -7.22 (-0.12) and diluted earnings per share were SEK -7.22 (-0.12).
- Cash flow from operating activities amounted to SEK 2,039m (1,061).
Significant events during the quarter
- Sinch updated it's leverage policy to: Net debt over time shall be below 2.5 times Adjusted EBITDA (measured on a rolling twelve-months basis).
- Sinch issued a bond of SEK 500m and initiated a call for early redemption of the outstanding bond 2019/2024.
- Impairment testing of goodwill resulted in a total impairment of SEK 6,000m. The charge is attributable to the product category Applications and primarily relates to MessageMedia.
Significant events earlier this year
- The new operating model, organization and management team became operational on
1 January 2024 .
- Sinch was recognized as a 2024 Gartner Magic Quadrant Leader for CPaaS.
Significant events after the end of the quarter
- CFO
Roshan Saldanha will be leaving Sinch for a similar position in another industry. He will continue in his current role until a successor has taken over or untilMarch 2025 at the latest. The process of finding a replacement has begun.
- Sinch informed about goodwill impairment and preliminary results for the third quarter.
Invitation to webcast and phone conference
Sinch will present the interim report in a webcast and phone conference on Wednesday,
To participate via phone conference, register using the following link: https://conference.financialhearings.com/teleconference/?id=50048793.
After you register, you will be given a phone number and conference ID to log into the conference.
For additional information, please contact:
Ola Elmeland, Investor Relations
+46 72 143 34 59
investors@sinch.com
+46 72 245 50 55
investors@sinch.com
+46 73 660 24 19
investors@sinch.com
About Sinch
Sinch is pioneering the way the world communicates. More than 150,000 businesses – including many of the world's largest tech companies – rely on Sinch's Customer Communications Cloud to improve customer experience through mobile messaging, voice and email. Sinch has been profitable and fast-growing since it was founded in 2008. It is headquartered in
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.
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https://news.cision.com/sinch-ab/r/interim-report--january---september-2024,c4061796
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