Sinch AB Interim report, January-September 2023

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STOCKHOLM, Nov. 7, 2023 /PRNewswire/ -- July–September 2023

  • Net sales increased by 1 percent to SEK 7,265m (7,196).

  • Gross profit increased by 3 percent to SEK 2,433m (2,361).

  • EBITDA rose by 5 percent to SEK 848m (808).

  • Adjusted EBITDA1 increased by 5 percent to SEK 943m (901).

  • Profit after tax for the quarter was SEK 46m (-4,765).

  • Basic earnings per share were SEK 0.05 (-5.69) and diluted earnings per share were SEK 0.05 (-5.69).

  • Cash flow from operating activities was SEK 862m (727).

January–September 2023

  • Net sales increased by 4 percent to SEK 21,213m (20,361).

  • Gross profit increased by 10 percent to SEK 7,015m (6,394).

  • EBITDA rose by 14 percent to SEK 2,256m (1,984).

  • Adjusted EBITDA1 increased by 22 percent to SEK 2,642m (2,165).

  • The loss after tax for the period was SEK -102m (-4,717).

  • Basic earnings per share were SEK -0.12 (-5.81) and diluted earnings per share were SEK -0.12 (-5.81).

  • Cash flow from operating activities was SEK 1,061m (1,535).

"With stable margins and strong cash flow, we can again turn our focus towards growth ."
                                        – Laurinda Pang, CEO

Significant events during the quarter

  • Sinch was named as a leader in the first-ever Gartner Magic Quadrant for CPaaS.

  • Sinch MessageMedia announced that two-way SMS capabilities have been integrated with Zoho Desk and the HubSpot Service Hub.

  • Sinch partnered with the American Automobile Association to develop a new service that makes it possible for AAA members in need of road assistance to use satellite connections for chat services when they are out of cellular range.

  • Sinch launched a new product for Elastic SIP Trunking that is now available in an open beta version. A complement to existing Sinch voice services, the product allows business customers to easily buy flexible voice capacity via sinch.com.

Significant events earlier this year

  • On January 12, 2023, credit facilities of SEK 6,500m and USD 110m were extended by one year. The new maturity date is February 2026.

  • Sinch launched "Operator Connect for Partners" on 23 March, which makes it possible for service providers and other partners to offer voice calling services via Microsoft Teams.

  • It was announced on May 25 that Sinch was named a leader in IDC MarketScape for CPaaS.

  • The cost reduction program that was announced in mid-2022 achieved the announced reduction targets in Q2 2023.

Significant events after the end of the quarter

  • Sinch announced a new operating model to accelerate its organic growth. The new model increases the focus on customers, unlocks cross- and upselling, and leverages the company's global scale in Product and R&D. Implementation of the new model implies thorough integration of multiple acquired entities into joint organizations so that efficiency gains and cost synergies can be reinvested into initiatives that drive growth. See the press release for more information.

1) Adjusted EBITDA is reported to clarify performance in underlying operations. See Note 2.

Invitation to webcast and phone conference

Sinch will present the interim report in a webcast and phone conference on Tuesday, 7 November 2023 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=2001051.
After you register, you will be given a phone number and conference ID to log into the conference.

For additional information, please contact:

Ola Elmeland, Investor Relations
+46 72 143 34 59
investors@sinch.com

Thomas Heath, Chief Strategy Officer and Head of Investor Relations
+46 72 245 50 55
investors@sinch.com

Roshan Saldanha, Chief Financial Officer
+46 73 660 24 19
investors@sinch.com

About Sinch

Sinch helps businesses engage with their customers through cloud services for customer communications. More than 150,000 customers, including many of the biggest tech companies in the world, use the Sinch Customer Communications Cloud and the secure and reliable Sinch Supernet for messaging, voice calls and email. Sinch has delivered profitable growth since the company was founded in 2008. The company is headquartered in Stockholm, Sweden and its stock is traded on Nasdaq Stockholm: XSTO:SINCH.

CONTACT:

Ola Elmeland
Investor Relations
Directorinvestors@sinch.com

The following files are available for download:

https://mb.cision.com/Main/22250/3870450/2411261.pdf

Sinch_2023Q3_ENG

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SOURCE Sinch AB

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