In This Article:
STOCKHOLM, Nov. 6, 2024 /PRNewswire/ -- Executing on our efficiency agenda
July – September 2024
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Net sales decreased by 2 percent to SEK 7,150m (7,265).
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Gross profit decreased by 1 percent to SEK 2,406m (2,433).
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EBITDA decreased by 6 percent to SEK 799m (848).
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Adjusted EBITDA decreased by 2 percent to SEK 923m (943).
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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).
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Basic earnings per share were SEK -7.22 (0.05) and diluted earnings per share were SEK -7.22 (0.05).
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Cash flow from operating activities amounted to SEK 437m (862).
January – September 2024
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Net sales decreased by 1 percent to SEK 20,983m (21,213).
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Gross profit grew by 1 percent to SEK 7,103m (7,015).
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EBITDA rose by 5 percent to SEK 2,359m (2,256).
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Adjusted EBITDA decreased by 2 percent to SEK 2,584m (2,642).
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The loss after tax for the period was SEK -6,089m (-102).
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Basic earnings per share were SEK -7.22 (-0.12) and diluted earnings per share were SEK -7.22 (-0.12).
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Cash flow from operating activities amounted to SEK 2,039m (1,061).
Significant events during the quarter
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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).
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Sinch issued a bond of SEK 500m and initiated a call for early redemption of the outstanding bond 2019/2024.
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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
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The new operating model, organization and management team became operational on 1 January 2024.
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Sinch was recognized as a 2024 Gartner Magic Quadrant Leader for CPaaS.
Significant events after the end of the quarter
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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 until March 2025 at the latest. The process of finding a replacement has begun.
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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, 6 November 2024 at 14:00 CET. Watch the presentation at investors.sinch.com/webcast.
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.