Strong growth in the third quarter, followed by a big agreement in 5G synchronization
“Q3 was the strongest in terms of revenue since Q2 2019, and sales in the period of SEK 101 million were up by just over 30% year-on-year and by 13% compared to the same period in 2019. All regions exceeded last year’s sales figures, contributing to the increase, alongside increased sales for the Aperi portfolio. Agreement in 5G synchronization totaling SEK 220 million with Türk Telekom after the end of the reporting period.”
Crister Fritzson, CEO of Net Insight
July – September 2021
- Net sales amounted to SEK 100.8 (77.2) million, an increase of 30.6% year-on-year. In comparable currencies net sales increased by 34.1%.
- Operating earnings amounted to SEK 11.8 (-4.1) million, corresponding to an operating margin of 11.7% (-5.3%). Excluding foreign exchange rate differences of SEK -0.2 (0.1) million, operating earnings were SEK 12.0 (-4.2) million.
- Net income for the period for continuing operations was SEK 10.1 (-3.9) million and for the Group, including discontinued operations, SEK 10.1 (-5.9) million.
- Earnings per share diluted for the Group was SEK 0.03 (-0.02).
- Total cash flow for the Group was SEK 25.1 (-21.1) million. Excluding the cash impact of the divestment of operations, cash flow was SEK -6.4 (-21.1) million.
January – September 2021
- Net sales amounted to SEK 272.8 (241.4) million, an increase of 13.0% year-on-year. In comparable currencies net sales increased by 19.5%.
- Operating earnings amounted to SEK 23.5 (-0.9) million, corresponding to an operating margin of 8.6% (-0.4%). Excluding foreign exchange rate differences of SEK 8.2 (1.9) million, operating earnings were SEK 15.3 (-2.8) million.
- Net income for the period for continuing operations was SEK 21.0 (-2.8) million. Net Income for the Group, including discontinued operations, was SEK -16.0 (244.2) million. This includes capital loss on disposal of discontinued operations of SEK -35.9 (246.4) million.
- Earnings per share diluted for the Group was SEK -0.04 (0.64).
- Total cash flow for the Group was SEK 55.9 (214.0) million. Excluding the cash impact of the divestment of operations, cash flow was SEK 9.3 (-88.4) million.
For the complete interim report, please refer to the attached PDF.
A conference call with web presentation for media and the financial community will take place at 9:30 am CET on November 9, 2021
CEO Crister Fritzson and CFO Joakim Schedvins will present and comment on the interim report https://financialhearings.com/event/13316
For further information, please contact:
Crister Fritzson, CEO of Net Insight AB, +46 8 685 04 00, crister.fritzson@netinsight.net
About Net Insight
Net Insight (NASDAQ: NETI B) is defining new ways to deliver media, opening up opportunities for content owners, broadcasters, production companies, service providers and enterprises to produce and deliver the future of live sport, news and online content. The company is driving the transformation to IP, virtualization and cloud workflows and has built the market’s most open and cloud-ready media delivery platform for contribution, distribution, live production, and orchestration.
For over 20 years the world’s leading media brands have trusted Net Insight and the company is recognized for having set the benchmark for media transport. Now Net Insight is combining its broadcast heritage and R&D expertise with the deep IP knowledge gained from developing its own streaming solution to evolve Nimbra, its Emmy® Award winning video transport solution, for the new media era. With a strong vision for the future of IP and cloud, Net Insight is helping the world’s leading media brands to simply and cost-effectively produce and deliver content to viewers anywhere.
For more information, please visit netinsight.net
Twitter: @NetInsight, twitter.com/NetInsight
LinkedIn: @Net Insight, www.linkedin.com/company/net-insight/
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