Third quarter 2018 Operating income for the period amounted to SEK 34,624 thousand (24,752), an increase of 40 percent Net sales for the period amounted to SEK 25,217 thousand (15,016), an increase of 68 percent Earnings before depreciation (EBITDA) for the period amounted to SEK -3,301 thousand (-10,508) Result for the period amounted to SEK -19,276 thousand (-22,031) Earnings per share amounted to SEK -0.17 (-0.22) Equity per share amounted to SEK 2.09 (2.24)
3rd quarter – a strong quarter with two new 5G customers and improved EBITDA results compared with both 2017 and the 2nd quarter 2018.
The second half of 2018 had a very positive start due to increased net sales growth (+68%) and two new 5G customer agreements. In addition, we signed an important framework agreement of SEK 21.5 million in the beginning of the fourth quarter, with a high-profile American Fortune 100 company. Our investments over the last year in the photonics sector have increased our capacity at our factory in Scotland during 2018.
In the third quarter, we had a very positive net sales of SEK 25 million (15 million), which is equivalent to +68% compared with the same quarter in 2017. Thanks to this positive development together with an improved gross margin, we see a clear improvement in the company’s EBITDA result for the period, which amounted to SEK -3 million (SEK -10 million), equivalent to an improvement of SEK 7 million compared with the same quarter in 2017, and
an improvement of SEK 15 million compared with the second quarter of 2018. The negative operating profit for the period decreased by SEK 6 million to SEK -14 million (SEK -20 million), where most of the negative result is due to goodwill amortization of the corresponding SEK 11 million during the third quarter. Most of this depreciation is related to the acquisition of CST Global.
As previously announced, we are investigating the possibility to move from First North to Nasdaq’s main list. We have started our work to meet with the requirements of the Exchange auditors and the audit review that proceeds the decision by the Listing Committee. The requirements involve, among other things, IFRS accounting standards as well as complying with the Swedish Corporate governance Our ambition is set high regarding our preparations and we intend to disclose more detailed information during the first half of 2019.
We have begun the fourth quarter in the best possible way with a major framework order to supply a well-established American Fortune 100 company. In connection with this, a new rights issue was implemented to secure new capital for future investments in growth. Via this new issue, we also have the great pleasure of welcoming AMF Aktiefond småbolagsfond as a new shareholder. We are also delighted that both Swedbank Robur Ny Teknik and Nordic Cross Small Cap Edge have increased their holdings in the company. We continue to implement our strategic business plan focusing on our business areas Wireless and photonics. We see a strong demand for our products and we are confident we can offer world-class chips and components. Customers who use our chips and components know who we are and what we can offer, which means we are in a good position to win even more customers in the future.
Anders Storm, CEO of Sivers IMA
A web-based presentation of the third interim report will be held at 10:00 Friday, November 16, 2018. Please register for the webinar via the link: https://attendee.gotowebinar.com/register/4616721076859964675
For more information, please contact:
Anders Storm, CEO
Tel: +46 70 262 6390
Erik Penser Bank is appointed Sivers IMA Holding ABs Certified Adviser on Nasdaq First North.
Tel: +46 8 463 80 00
This information is insider information that Sivers IMA is obliged to make public pursuant to the EU Market Abuse Regulation. The information was submitted for publication trough the agency of the contact person set out above, on Novembber 16, 2018, at 08:00 CET.
Sivers IMA Holding AB is a leading and internationally renowned supplier, publicly traded under SIVE at Nasdaq First North Stockholm. The wholly owned subsidiaries Sivers IMA and CST Global develop, manufacture and sell cutting-edge chips, components, modules and subsystems based on proprietary advanced semiconductor technology in microwave, millimeter wave and optical semiconductors. Headquarters in Stockholm, Sweden. Learn more at http://siversima.com.