NOT FOR DISTRIBUTION IN OR INTO OR TO PERSONS LOCATED IN THE UNITED STATES, ITS TERRITORIES AND POSSESSIONS OR FOR THE ACCOUNT OR BENEFIT OF US PERSONS (AS DEFINED IN REGULATION S UNDER THE US SECURITIES ACT OF 1933) OR IN OR RESIDENCE IN ALL OTHER JURISDICTIONS WHERE SUCH DISTRIBUTION WOULD BE PROHIBITED BY APPLICABLE LAW
ZetaDisplay publishes financial update for Q4 2022 and provides outlook for fiscal year 2023
Stockholm, January 13, 2023
In connection with the ongoing debt refinancing process, ZetaDisplay provides below an update on its financial performance for the fourth quarter of 2022 and provides guidance for 2023.
Key Unaudited Consolidated Financial Information for the three months ended December 31, 2022:
Net sales increased 36.8% yoy to SEK 167.4 (122.4) million, with SaaS revenue growing 10.4% yoy to SEK 49.8 (45.1) million amounted to SEK. Total revenues increased by 34.4% year-on-year and amounted to SEK 167.6 (124.7) million. For the 2022 financial year, net sales increased by 27.1% and amounted to 534.5 (420.5) million
Annually recurring revenues, as presented in the financial reports, showed a growth of 2.3% qoq and amounted to SEK 197.7 (192.2) million, underlining the ability to attract new business during the churn is kept low and thus the recurring revenue base of ZetaDisplay is increased
The EBITDA amounted to SEK 14.1 (15.3) million. Adjusted for one-off items as presented in the financial reports, the EBITDA amounted to SEK 14.1 (15.8) million. The reported EBITDA figures include costs related to strategic and operational initiatives that are expected to benefit the company in the future. Adjusted for these extraordinary costs, the EBITDA for the 2022 financial year amounts to SEK 71.3 million
Gross interest-bearing debt was SEK 319.0 million and cash and cash equivalents was SEK 59.2 million at the end of the year
Guidance for fiscal year 2023 (based on management budget figures for 2023):
Net sales forecast of c. SEK 600 million with SaaS revenues of c. SEK 220 million
EBITDA adjusted for exceptional costs, including those related to strategic and operational initiatives, forecast to be over SEK 80 million
This information is information that ZetaDisplay AB (publ) is obliged to publish the EU Market Abuse Regulation. The information was submitted for publication via the agency of the contacts listed below on 13 January 2023 at 08:00 CET.
For more information please contact:
Per Mandorf, President and CEO
Mobile: +46 704-25 82 34
Michael van Straten, Chief Financial Officer
Mobile: +45-538-482 83
Robert Bryhn, CMO / Head of Communications
Mobile: +46 709-80 20 80
ZetaDisplay is number one in the Nordic region and number two in Europe and we are driving digital transformation in physical environments every day. Our solutions, concepts and software digitize, influence and inform people’s behavior at the time of decision-making in shops, in public environments and in the workplace. Our solutions are known as digital signage, which we develop and offer as SaaS solutions. We are a global leader, actively influencing the development of the international digital signage market organically, through innovation and through acquisitions.
ZetaDisplay is based in Malmö, has a turnover of approx. +500 million SEK and employs 220 people in offices in six European countries. In total, the company manages over 80,000 installations in more than 50 markets. ZetaDisplay is owned by British investment company Hanover Investors. Further information at www.ir.zetadisplay.com and www.hanoverinvestors.com