Second quarter 2021 Revenue amounted to SEK 26.911 M (21.445), an increase of 25% Profit before depreciation and amortization (EBITDA) amounted to SEK -20.080 M (-9.068) Operating profit/loss (EBIT) for the period was SEK -28.009 M (-16.590) Profit/loss after tax was SEK -28.897 M (-22.392) Earnings per share before and after dilution was SEK -0.19 (-0.16) Equity per share amounted to SEK 3.13 (2.15)
Significant events during the second quarter:
Significant events after the end of the period:
Key performance indicators
|Profit/loss for the period||-28,897||-22,392||-55,130||-43,609||-195,782|
|Earnings per share before and after dilution, SEK||-0.19||-0.16||-0.36||-0.32||-1.37|
|Equity per share, SEK||3.13||2.15||3.13||2.15||3.44|
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As expected, we took the first step out of the pandemic in the second quarter, which contributed to the company’s positive progress, and with Wireless in particular returning to growth. We also successfully completed the move to Nasdaq’s main list as planned. We continued to expand the customer base and maintained an excellent dialog with new and existing customers and partners. Sales were SEK 27 million in the second quarter, an increase of 25% year-on-year. Wireless’ sales returned an increase of 118%.
We continued our growth investments in the quarter, including production capacity, customer support, sales and marketing. EBIT was SEK -28 million, down by almost SEK 11 million year-on-year. The cost increase is according to plan and has multiple causes. These include the non-recurring costs associated with the Nasdaq listing process of approximately SEK 8 million. Increased personnel costs are a result of recruitments to ensure strong future growth. We had 117 employees at the end of the quarter, an increase of 18 in year-on-year terms.
During the quarter, the Wireless business area made several important announcements, including new design wins, one with TMYTEK in Taiwan and one with a North American telecom company that will develop products for unlicensed 5G. We now have a total of 26 design wins. Our market leading 60 Ghz technology is the foundation for our agreement with Lithuanian high-tech company 8devices. In the quarter, 8devices increased its estimated demand for equipment from us by 30–50% in 2021– 2024, corresponding to estimated sales of SEK 90–150 million.
Photonics also made advances, winning another follow-up order of SEK 14 million for optical sensing from our largest Fortune 100 customer, who we have now collaborated with for nearly three years. The total order value during these years was just under SEK 100 million, and each new order increases our chances of playing a part in the future volume production of the customer’s sensors. Alongside our partners Imec and ASM AMICRA, we also successfully integrated lasers from our platform with Imec’s Silicon photonics platform in the quarter, which will accelerate the use of silicon photonics in many new applications.
We had a strong cash position at the end of the quarter, which we will continue to use for our organic and international expansion.
We reached an important milestone in the second quarter with the listing of the share on Nasdaq Stockholm’s main list. The listing is a quality stamp and another important piece of the puzzle in the continued expansion and progress of the company. It strengthens our profile and brand with customers and investors, and improves our access to the Swedish and international capital markets. It also improves our ability to attract and retain qualified staff. Overall, the listing is an important step towards creating increased long-term shareholder value.
Everyone at Sivers has worked hard to get where we are today. Many of our customers are moving towards volume production and we foresee considerable potential to capitalize on the hard work we have put into the company when societies are able to open up again. Our competitive products and global network make us well equipped to capture our market opportunities, hence I continue to stay very optmistic about the 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]
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 19 August, 2021.