First quarter 2021 Revenue amounted to SEK 13.840 M (22.810), a decrease of 39% Profit before depreciation and amortization (EBITDA) amounted to SEK -17.771 M (-11.001) Operating profit/loss (EBIT) for the period was SEK -25.802 M (-18.459) Profit/loss after tax was SEK -26.233 M (-21.217) Earnings per share before and after dilution was SEK -0.17 (-0.16) Equity per share amounted to SEK 3.32 (2.34)
Significant events in the first quarter:
Significant events after the end of the period:
Key performance indicators
|Profit/loss for the period||-26,233||-21,217||-195,782|
|Earnings per share before and after dilution, SEK||-0.17||-0.16||-1.37|
|Equity per share, SEK||3.32||2.34||3.44|
An online presentation of the Interim Report will be held at 10:00 AM (CET) Thursday, May 20, 2021.
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In the first quarter, the second and third waves of the pandemic slowed the positive growth from the fourth quarter, which affected first quarter sales negatively. Although this did not lead to any order or customer losses, revenue was pushed forward into the future for both Photonics and Wireless. Now that the vaccination roll-out has gathered pace on many of our main markets, we are observing increased activity in both business areas, which indicates that growth has started to increase again.
Digital customer meetings and design-wins
We continue to prepare for the future with new design wins and productive digital customer meetings, which are set to generate new business during the year. The planned list change to Nasdaq’s main list during June 2021 has also been in focus during the quarter. We are ensuring that we are able to manage our future growth by investments in new production capacity and recruitment of new personnel. In the quarter, we employed 14 new members of staff who will start over the coming six months. At the end of the first quarter, we retained our strong cash position of approximately SEK 197 M that will be used for future investments in growth. Net sales totaled SEK 14 M in the first quarter, a decrease of 39% year-on-year. As we have previously indicated, in this phase quarterly sales can be irregular depending on when orders are delivered. The agreement signed in the closing days of the quarter provides one example, as major parts were postponed to the second quarter.
Photonics participates in many promising processes
In the first quarter, we received another optical recognition order worth approximately SEK 11 M from our largest Fortune 100 customer. Part of the order was delivered and invoiced in the first quarter, with the remainder due in the second quarter. This means that this customer has placed orders totaling SEK 85 M since October 2018. We continue to focus on the next step with this Fortune 100 customer, and our other Fortune 100 customer. We are also in dialog with other potential major customers.
Wireless advances in the US and Asia
Wireless continued to advance. In the first quarter, Wireless signed three new designs wins and received two US volume orders totaling SEK 7 M, of which the majority will be delivered in the second quarter. As soon as the pandemic loosens its grip I am convinced that several of Wireless’ customers will pick up speed in their external test networks, resulting in many more end customers. In the quarter, we also received an order for BFIC1 components from TMYTEK in Taiwan. This is a new product that we have developed alongside Ampleon. Although the value of TMYTEK’s order is not significant at present, we believe that the order can open up new opportunities on the Asian market as the company is an important Taiwanese operator in 5G millimeter wave solutions and satellite communication . At the end of the quarter, we had sold a total of 13 evaluation kits and signed three new design wins, which means that we now have a total of 24 design wins. This is eight more than a year ago and we anticipate more design wins in 2021.
Strong future optimism
We are continuing to expand our customer base and are involved in multiple talks with old and new customers and partners. Many of our customers are moving towards volume production and we are confident about the future. Our competitive products and global network mean that we are well equipped to take advantage of strong underlying market growth. We are in an excellent position in terms of customers, our Balance Sheet and new products. This means that I am very optimistic about our future.
Anders Storm, President and CEO
For more information, please contact:
Anders Storm, Group CEO
Tel: +46 (0) 702 62 63 90
E-mail: [email protected]
Erik Penser Bank is appointed Sivers IMA Holding AB’s Certified Advisor at Nasdaq First North Growth Market.
Tel: +46 (0) 8 463 80 00
E-mail: [email protected]
This is information that Sivers Semiconductors AB (publ) is obliged to make public pursuant to the EU Market Abuse Regulation. The information was submitted for publication, through the contact person set out above at 08:00 (CET) on May 20, 2021.