GlobeNewswire by notified

Third quarter report 2023



  • Net sales amounted to KSEK 13 593 (3 125), an increase of 335%.
  • EBITDA amounted to KSEK -329 (-2 957), corresponding to an EBITDA margin of -2%.
  • EBIT amounted to KSEK -3 333 (-4 637), corresponding to an EBIT margin of -25%.
  • Cash flow from operating activities amounted to KSEK 12 719 (1 574).
  • Earnings per share amounted to SEK -0.02 (-0.06).
  • Earnings per average number of shares amounted to SEK -0.02 (-0.06).


  • Net sales amounted to KSEK 58 704 (13 624), an increase of 331%.
  • EBITDA amounted to KSEK 17 146 (-8 061), corresponding to an EBITDA margin of 29%.
  • EBIT amounted to KSEK 8 215 (-13 099), corresponding to an EBIT margin of 14%.
  • Cash flow from operating activities amounted to KSEK 2 964 (-11 767).
  • Earnings per share amounted to SEK 0.04 (-0.16).
  • Earnings per average number of shares amounted to SEK 0.05 (-0.16).

Comments from the CEO

Net sales grew by 335% in the third quarter and the operational cashflow was positive by 2.9 MSEK for the nine-month period. Given the high EBITDA result from the first nine months, we expect that we will be EBITDA positive for the full year 2023, for the first time ever. The strong sales are driven by both the war in Ukraine and the increasing demand for narcotics identification within law enforcement. We expect the high demand to remain for at least the next few years.

Most of our sales so far this year have come from three large orders, but we also see a strong increase in the run-rate business, i.e. the many small orders that we receive from our partners without our direct involvement. The high number of smaller orders are both proof that our partner network is performing well and that the demand is not limited to a few geographical markets. As our partner network evolves and becomes more capable, our direct involvement in each business opportunity decreases, allowing our sales team to focus on the larger opportunities and business development.

The two orders we received from our partner Kaiser in Singapore were significant not only for their size. The July order was the first time we receive a second larger order from the same end-customer, who has indicated that we should continue to expect repeat orders over the coming years. The end-user is within narcotics law enforcement, which remains our largest customer segment and for which our Serstech Arx and Serstech ChemDash are perfectly suited.

For more than a year, our R&D team has been fully occupied with the electronics and software upgrade of our Serstech Arx product. The work is going according to plan, and we expect the project to be completed during the fourth quarter. After the upgrade, Serstech Arx will be built with only components that are readily available, which will allow us to scale up production as needed. So far in 2023, we have managed to deliver our products either on time or before the requested delivery date in all cases. Our delivery precision has been made possible thanks to the build-up of inventory and other preparations we did in 2022 and early 2023. With the soon finished electronics upgrade, we expect deliveries to go smoothly also in the coming year.

The outlook for the coming years remains positive, both due to our strong technical and sales capabilities and to the high demand in the market. As always, we will continue to see a large variation between individual quarters, but we remain confident in our longer-term growth target of 50% per year on average.

For further information, please contact:

Stefan Sandor,
CEO, Serstech AB Phone: +46 739 606 067
Thomas Pileby,
Chairman of the Board, Serstech AB Phone: +46 702 072 643
or visit:
This is information that Serstech AB (publ.) is obliged to make public pursuant to the EU Market Abuse Regulation. The information was submitted for publication, through the agency of the contact person set out above at 08:47 CET on September 9, 2023.
Certified advisor to Serstech is Svensk Kapitalmarknadsgranskning AB (SKMG).
About Serstech
Serstech delivers solutions for chemical identification and has customers around the world, mainly in the safety and security industry. Typical customers are customs, police authorities, security organizations and first responders. The solutions and technology are however not limited to security applications and potentially any industry using chemicals of some kind could be addressed by Serstech’s solution. Serstech’s head office is in Sweden and all production is done in Sweden.
Serstech is traded at Nasdaq First North Growth Market and more information about the company can be found at


To view this piece of content from, please give your consent at the top of this page.
To view this piece of content from, please give your consent at the top of this page.

About GlobeNewswire by notified

GlobeNewswire by notified
GlobeNewswire by notified
One Liberty Plaza - 165 Broadway
NY 10006 New York

GlobeNewswire by notified is one of the world's largest newswire distribution networks, specializing in the delivery of corporate press releases financial disclosures and multimedia content to the media, investment community, individual investors and the general public.

Subscribe to releases from GlobeNewswire by notified

Subscribe to all the latest releases from GlobeNewswire by notified by registering your e-mail address below. You can unsubscribe at any time.

Latest releases from GlobeNewswire by notified

Oxurion Receives Transparency Notifications from Atlas Special Opportunities LLC1.12.2023 19:00:00 CET | Press release

Regulated Information Leuven, BELGIUM, Boston, MA, US – December 1, 2023 – 7.00 PM CET Oxurion NV (Euronext Brussels: OXUR), a biopharmaceutical company developing next generation standard of care ophthalmic therapies, with clinical stage assets in vascular retinal disorders, today announced that, pursuant to Belgian Transparency legislation1 it has received transparency notifications as follows: Oxurion received a first transparency notification on November 22, 2023, from Atlas Special Opportunities, LLC indicating that as of November 13, 2023, it held 0 shares of the then outstanding 3,112,043,514 shares, and therefore crossed below the threshold (3%) by virtue of the sale of voting securities. See Annex 1. Oxurion received a second transparency notification on November 29, 2023, from Atlas Special Opportunities, LLC indicating that as of November 17, 2023, it held 241,545,893 shares of the then outstanding 3,489,458,972 shares, and therefore crossed above the threshold (5%) by virtu

Havila Kystruten AS: Regnskap for tredje kvartal 20231.12.2023 18:34:33 CET | Pressemelding

September var første måned med full drift av alle fire skip. Til tross for forsinkelse av Havila Polaris og Havila Pollux i Q3, ble gjennomsnittlig belegg 70 % og gjennomsnittlig lugarrate kr 4 466. Inntektene er naturligvis preget av forsinkelsene og lavere enn forventet, men selskapet ser en positiv inntektsutvikling fra 2. kvartal og videre ut året. I forbindelse med refinansiering er driftskostnadene påvirket av ekstraordinære kostnader knyttet til juridiske og finansielle rådgivere. Regnskap og balanse påvirkes av valutasvingningene, og selskapet sikrer sine valutaforpliktelser med salg i valuta. Selskapet legger til grunn en normalisert drift av fire skip fremover, uten ekstraordinære kostnader. Selskapet har ambisjoner om et gjennomsnittlig belegg på 80 % for 2024, hvorav 45 % av all kapasitet allerede er solgt. Interessen for Havila Kystruten øker stadig i både inn- og utland, og positive tilbakemeldinger om produkt og konsept mottas på daglig basis. Resultat for 3. kvartal 202

Havila Kystruten : Third quarter 2023 accounts1.12.2023 18:34:33 CET | Press release

September marked the first month of full operation for all four ships. Despite the delays with Havila Polaris and Havila Pollux in Q3, the average occupancy rate reached 70%, with an average cabin rate of NOK 4,466. Revenues are naturally affected by the delays and lower than expected, but the company sees a positive revenue trend from the 2nd quarter and onward throughout the year. In connection with refinancing, operating costs were affected by extraordinary expenses related to legal and financial advisors. Currency fluctuations have had an impact on the financial statements and balance sheet, and the company is hedging its currency commitments through currency sales. The company assumes normalized operation of four ships going forward, without extraordinary costs. The company aims for an average occupancy rate of 80% for 2024, with 45% of all capacity already sold. Interest in Havila Kystruten is continually growing both domestically and internationally, with positive feedback on th

Resultat af aktietilbagekøb1.12.2023 17:41:01 CET | pressemeddelelse

Selskabet meddelte i selskabsmeddelelse 30/2023, at man havde besluttet at iværksætte et aktietilbagekøb på køb af optil 1.000.000 aktier til kurs 2.50 svarende til maksimalt DKK 2.5 mio. i perioden 22. november – 1. december 2023, begge dage inklusive. I hele perioden har der været indlagt en synlig stående budordrer i kurs 2.50, så markedet løbende har kunne følge tilbagekøbets udvikling, og som det også fremgik af selskabsmeddelelse 30/2023, så stod alle insidere tilbage for selskabets aktionærer, så insidere som ønskede at sælge aktier kun kunne tilbagesælge aktier den sidste dag, dvs. fra og med fredag d. 1. december 2023 kl. 09.00. Resultatet af insidernes evt. frasalg vil fremgå af en separat meddelelse. Resultatet af aktietilbagekøbsprogrammet blev at selskabet har tilbagekøbt 19.687 aktier til kurs 2.50 svarende til DKK 49.217,50. Selskabet ejer pr. dags dato totalt 4.854.063 egne aktier svarende til 9,06 % af selskabets aktiekapital. Det samlede antal aktier i virksomheden er

Registration of share capital increase in IDEX Biometrics 1 Dec 20231.12.2023 17:30:00 CET | Press release

Reference is made to the notice on 21 November 2023 regarding employees having exercised 389,608 incentive subscription rights at NOK 0.15 per share. The capital increase has been registered and the shares will be delivered soonest. Following the issue, the company's share capital is NOK 209,551,597.20 divided into 1,397,010,648 shares, each with a nominal value of NOK 0.15. For further information contact: Marianne Bøe, Investor Relations E-mail: Tel: +47 918 00186 About IDEX Biometrics IDEX Biometrics ASA (OSE: IDEX) is a global technology leader in fingerprint biometrics, offering authentication solutions across payments, access control, and digital identity. Our solutions bring convenience, security, peace of mind and seamless user experiences to the world. Built on patented and proprietary sensor technologies, integrated circuit designs, and software, our biometric solutions target card-based applications for payments and digital authentication. As