Interim-Report April - June 2021: Increased profit for the first six months but lower sales
January - June
- Net sales decreased with -23.0 procent to SEK 64.6 (83.9) million (-18 percent in local currencies).
- EBIT amounted to SEK -1.9 (12.1) million.
- EBIT margin was -2.9 (14.4) percent.
- Profit after tax amounted to SEK -2.9 (10.4) million.
- Earnings per share before/after dilution amounted to SEK -0.16 (0.56).
- Cash flow from operating activities amounted to SEK 1.1 (-1.6) million.
- Cash and cash equivalents at the end of the period amounted to SEK 70.8 (64.8) million.
Comments from the CEO
Increased profit for the first half of the year but sales decreased slightly. The result of a couple of unfortunate, coinciding factors.
The decline in sales is foremost attributable to North America. The major reorganisation that we implemented in the USA in the end of last year is starting to yield results and we have high hopes for the important US market going forward. We are doing the right things and winning the confidence of additional customers, although this is not yet reflected in our reported figures.
We are continuing to increase new sales in several important countries, and we have a very high degree of license renewals.
MSAB is a global company that helps improve the efficiency of law enforcement agencies. Simultaneously, conditions world-wide are in a constant state of flux. Our products are extremely powerful, which means we must be selective about who we sell to.
We follow an ethical policy which means that we continually evaluate which countries and organisations we can deliver our solutions to. As a result, we are delivering to fewer regions than previously. This carries a negative impact on our sales in the short-term.
At the same time, we are entirely convinced that this is the correct decision and that it will benefit the Company long-term since this is something we know that the absolute majority of our customer base, law enforcement agencies globally, is putting an increased emphasis on. As we have always done.
The pandemic continues to affect MSAB.
Our experience of working under pandemic conditions has been both good and bad. One positive effect has been that the pandemic has taught us and our customers to work more efficiently in the digital environment, and we have become quite accomplished at working via webinars, and on-line conferences and meetings using Teams and other tools.
Our experience from the pandemic has been less positive when it comes to major system solutions. Our customers experience no problems buying or renewing licenses, complementing with new systems, etc. However, decisions for major integration solutions take time. We still have several customers who cannot execute their plans because of the pandemic. This is especially true for rollout of kiosk solutions.
Two years ago, we decided to improve our success in Japan. We hired a sales representative to start working the market.
Japan is probably the most detail-oriented culture we have worked in thus far. The Japanese have a reputation for not making hasty decisions and their review has been thorough. The police have gone through everything down to the tiniest detail. It is therefore especially gratifying that they have now placed a larger, initial order, one which gives the police throughout Japan access to XRY.
With XRY, they will be able to work smarter and more effectively, and above all they gain access to our unique features.
Japan exemplifies well that what we are doing on this market is right and unique. We know that customers that use our solutions become more efficient. We also know that it can take time for our customers to make decisions and cross the start line, but once the decision is made, it is highly likely that they will be customers for a long time. We have many customers today who made their original investments in XRY more than 15 years ago, and who remain loyal and steadfast customers.
A powerful motivating factor for the whole Company is the fantastic feedback we receive from customers who see us as a partner they can trust. Over time, we deliver pivotal value to our customers, and we are world leaders at much of what we do.
I am convinced that MSAB will continue to grow, and that our solutions will be a critical component in ensuring our customers’ success in their work, and for making our societies safer around the world.
We will continue to work hard, and focus on the future, and we know we are on the right path – not because we think so ourselves – but because our customers tell us we’re good at what we do, that we are easy to work with, and that our products relative to our competitors are constantly improving. Our customers are, like us, looking forward to the pandemic ending soon so that together we can accelerate the pace on several new and exciting, major projects.
I am incredibly proud of the outstanding work MSAB does to contribute to a safer and more secure world, and our ambition will always be to continue to be world leaders at what we do.
Stockholm, July 2021
Joel Bollö, Chief Executive Officer
The information in this report is such that MSAB, Corporate ID number 556244-3050, is required to disclose in accordance with the EU’s Market Abuse Regulation. The information in this report was submitted for publication on 22 July, 2021 at 08:00 CEST.
Questions should be addressed to:
Chief Executive Officer Joel Bollö
Tel. +46 8 739 0270
MSAB in brief
MSAB is a world leader in mobile forensics technology with the aim of extracting and analysing data from confiscated mobile devices, mainly from mobile phones. The Company has its own sales offices and sales representatives in Europe, North America, South America, Australia, Singapore, Japan, India and Russia, and together with a number of distributors, covers most of the world. The proprietary products have become a de facto standard in the field and are used for securing evidence in more than 100 countries. These products are complemented by a wide range of training courses with the possibility of becoming certified in a forensically sound methodology. Customers are primarily law enforcement agencies, such as police, military and customs. MSAB is listed on NASDAQ Stockholm under the ticker symbol: MSAB B.
AttachmentTo view this piece of content from www.globenewswire.com, please give your consent at the top of this page.
To view this piece of content from ml-eu.globenewswire.com, please give your consent at the top of this page.
One Liberty Plaza - 165 Broadway
NY 10006 New York
GlobeNewswire 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
Subscribe to all the latest releases from GlobeNewswire by registering your e-mail address below. You can unsubscribe at any time.
Latest releases from GlobeNewswire
Synchronoss Names Christina Gabrys Chief Legal Officer27.7.2021 22:05:00 CEST | Press release
BRIDGEWATER, N.J., July 27, 2021 (GLOBE NEWSWIRE) -- Synchronoss Technologies, Inc. (NASDAQ: SNCR), a global leader and innovator of cloud, messaging and digital products and platforms, today announced the appointment of Christina “Chrissy” Gabrys as Chief Legal Officer. Gabrys succeeds Ronald Prague who is stepping down after 15 years with the company to pursue other interests. In her new role, Gabrys will oversee all legal affairs for the company. “Ron has played a significant role in shaping the Synchronoss that we are today. His leadership in negotiating and closing customer agreements, completing acquisitions and the company’s other financial endeavors – including his contribution to the successful recent recapitalization of the company – has been invaluable and he will be greatly missed,” said Jeff Miller, President and CEO of Synchronoss. “I would like to thank Ron for all he’s contributed to the business. We will always consider him part of the Synchronoss family and wish him w
SBM Offshore signs FPSO Almirante Tamandaré contracts27.7.2021 18:37:16 CEST | Press release
July 27, 2021 SBM Offshore is pleased to announce it has signed contracts with Petróleo Brasileiro S.A. (Petrobras) for the 26.25 years lease and operation of FPSO Almirante Tamandaré. These contracts follow the signing of the binding Letter of Intent as announced on February 25, 2021. FPSO Almirante Tamandaré will be deployed at the Búzios field in the Santos Basin approximately 180 kilometers offshore Rio de Janeiro in Brazil. SBM Offshore is progressing with the design and construction using its industry leading Fast4Ward® program. Delivery of the FPSO is expected in the second half of 2024. CorporateProfile The Company’s main activities are the design, supply, installation, operation and the life extension of floating production solutions for the offshore energy industry over the full lifecycle. The Company is market leading in leased floating production systems, with multiple units currently in operation. As of December 31, 2020, the Company employs approximately 4,570 people worl
Exel Industries :Third quarter 2020-2021 revenue : A sustained growth rate of 18.4%, in line with our expectations.27.7.2021 18:00:00 CEST | Press release
PRESS RELEASE July 27, 2021 Third quarter 2020-2021 revenue A sustained growth rate of 18.4%, in line with our expectations. Q3 revenue in €m2019 ‐ 20202020 - 2021Change in valueChange in %ReportedReportedReported* like‐for‐likeReported* like‐for‐likeAgricultural Spraying99.6113.814.216.414.3%16.4%Sugar Beet Harvesters222.214.171.1249.3%39.9%Garden Watering and Spraying50.149.8-0.3-0.8-0.6%-1.6%Industrial Spraying38.85516.217.941.9%46.2%EXEL Industries Group210.4249.238.842.218.4%20.1% *like‐for‐like = at constant foreign exchange rates and scope 9-month revenue in €m2019 - 20202020 - 2021Change in valueChange in %ReportedReportedReported* like‐for‐likeReported* like‐for‐likeAgricultural Spraying255.729236.342.114.2%16.5%Sugar Beet Harvesters53.863.81010.918.7%20.2%Garden Watering and Spraying89.3109.420.120.322.4%22.7%Industrial Spraying125.8169.243.43834.5%30.2%EXEL Industries Group524.7634.4109.8111.320.9%21.2% *like‐for‐like = at constant foreign exchange rates and scope Third quarte
Leasinvest Real Estate SA: Publication of a transparency notification27.7.2021 18:00:00 CEST | Press release
PUBLICATION OF A TRANSPARENCY NOTIFICATION IN ACCORDANCE WITH THE LAW OF 02/05/2007 ON THE DISCLOSURE OF IMPORTANT PARTICIPATIONS A notification of 27 July 2021 issued by AXA, shows a passive threshold overrun, following the introduction of the double voting rights and a capital increase by contribution in kind from a/o Extensa Group, as approved at the extraordinary general meeting of Leasinvest Real Estate on 19 July 2021. The total number of voting rights of AXA in Leasinvest Real Estate has decreased to 13.44% of the voting rights in Leasinvest Real Estate NV (hereinafter the "Company”). The notification comprises the following information: REASON FOR THE NOTIFICATION: Passive threshold overrun NOTIFICATION: by the parent company or controlling person. PERSON(S) SUBJECT TO THE NOTIFICATION REQUIREMENT Name and legal formAddress AXA SA 25, Avenue Matignon, 75008 Paris, France TRANSACTION DATE: 19 July 2021 THRESHOLD DROPPED BELOW: 15% DENOMINATOR: 11,804,919 DETAILS OF THE NOTIFICAT
ASM INTERNATIONAL N.V. REPORTS SECOND QUARTER 2021 RESULTS27.7.2021 18:00:00 CEST | Press release
Almere, The Netherlands July 27, 2021, 6 p.m. CET Continued robust market demand fuels strong quarterly performance ASM International N.V. (Euronext Amsterdam: ASM) today reports its second quarter 2021 operating results (unaudited) in accordance with IFRS. FINANCIAL HIGHLIGHTS EUR million Q2 2020 Q1 2021 Q2 2021 New orders 298.0 410.6 515.7 Revenue 341.8 394.0 411.7 Gross profit margin % 48.3 49.5 48.1 Operating result 87.6 124.5 118.4 Operating result margin % 25.6 31.6 28.7 Result from investments (excluding amortization intangible assets resulting from the sale of ASMPT stake in 2013) 10.7 13.9 19.3 Amortization intangible assets (resulting from the sale of ASMPT stake in 2013) (3.3) (3.0) (3.0) Net earnings 74.1 122.5 108.4 Normalized net earnings (excluding amortization intangible assets resulting from the sale of ASMPT stake in 2013 and result from sale of ASMPT shares) 77.4 125.5 111.4 New orders of €516 million for the second quarter 2021 increased by 73% compared to the same
Vastned Belgium: Interim half-yearly report for the first half of 202127.7.2021 18:00:00 CEST | Press release
High stable collection rate (97.9%) of rental income during the first half of 2021. Occupancy rate during the first half of 2021 (97.4%) increased by 1.2% compared to 31 December 2020. Limited debt ratio of 28.6%, in line with 31 December 2020 (28.5%). € 34.7 million of unused credit facilities available. Decrease in the fair value of the existing real estate portfolio (-2.2%) compared to the previous financial year. Management focus in 2021 mainly on the timely collection of rental income and maintaining a strong occupancy rate. Full press release: Attachment VB_Interim half-yearly report for the first half of 2021
ASM INTERNATIONAL N.V. NOMINATES TWO NEW SUPERVISORY BOARD MEMBERS27.7.2021 17:45:00 CEST | Press release
Almere, The Netherlands July 27, 2021, 5.45 p.m. CET ASM INTERNATIONAL N.V. NOMINATES TWO NEW SUPERVISORY BOARD MEMBERS ASM International N.V. (Euronext Amsterdam: ASM) today announces the nomination of Pauline van der Meer Mohr and Adalio Sanchez for appointment to its Supervisory Board. The Supervisory Board proposes to appoint Mrs. Pauline van der Meer Mohr and Mr. Adalio Sanchez as members of the Supervisory Board. Their appointment will be proposed to shareholders during an Extraordinary General Meeting (EGM). The EGM is planned for September 29, 2021, and further details of the EGM will be announced in due course. Pauline van der Meer Mohr (1960) is a seasoned non-executive director and brings over 35 years of experience in leadership positions in multinational businesses and academia. She started her career as a lawyer before making a career at the Royal Shell group from 1989 to 2004. After that she became the Group HR Director of TNT N.V. followed by fulfilling the role of Seni