In This Article:
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Net Sales: SEK 117.7 million, a significant decrease compared to Q3 last year.
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Gross Margin: Improved from 43.4% to 50.3%.
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EBITDA: SEK 40.5 million, down from SEK 48.4 million last year.
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EBIT: SEK 30.3 million, compared to SEK 38.9 million last year.
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Profit After Tax: SEK 24.2 million, up from SEK 22 million last year.
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Earnings Per Share: SEK 0.99, compared to SEK 0.90 last year.
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Cash Flow from Operating Activities: SEK 46.8 million, compared to SEK 73.8 million last year.
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Free Cash Flow: SEK 37.5 million, compared to SEK 65.8 million last year.
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Cash and Cash Equivalents: SEK 215 million, up from SEK 167.4 million last year.
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Equity Ratio: 58.5%, compared to 55.9% last year.
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Net Cash Position: SEK 200.2 million, an increase from SEK 163.7 million in the previous quarter and SEK 135.3 million last year.
Release Date: October 25, 2024
For the complete transcript of the earnings call, please refer to the full earnings call transcript.
Positive Points
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Doro AB (STU:DR8A) increased its market share in Q3 compared to Q2, outperforming the market in feature phones.
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The company has started shipping its new lever range of products and is planning a media campaign to support the launch.
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Doro AB (STU:DR8A) reported a robust business performance with over 50% gross margin for the quarter, indicating structural improvements.
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The company is seeing strong growth in its Direct-to-Consumer (D2C) business, contributing to long-term margin improvements.
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Doro AB (STU:DR8A) ended the quarter with a strong cash position, with cash and cash equivalents at 215 million SEK, up from 167.4 million SEK last year.
Negative Points
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Q3 was challenging for Doro AB (STU:DR8A) in terms of top-line sales, partly due to stock sell-through ahead of new product launches.
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The company faced headwinds from exceptional sales in Q3 of the previous year, making year-over-year comparisons difficult.
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Sales in the Nordics dropped by 30% compared to last year due to a one-off event in Q3 2023.
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Net sales decreased significantly to 117.7 million SEK compared to the same quarter last year.
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The transition to new product categories was more complex this year, affecting inventory management and sales.
Q & A Highlights
Q: Will the new level feature phones be available with all partners ahead of Black Week and the Christmas holidays in all regions? A: Julian Read, CEO: The product should be out with all customers by then. However, some factors are beyond our control, such as operators needing to certify our products. Our confidence remains high that it will be ready for Black Friday.