ZetaDisplay has just published its interim report January-March 2019 which doesn’t say very much new that we haven’t published previously on our blog.
It was described as a “quarter with strong organic growth”. Net sales increased by 43% to SEK 93.3 (65.0) million, EBITDA amounted to 8.1 (6.9) million and Operating profit was 1.9 (2.5) million
During the quarter, Finnish Viral Oy Ab increased its shareholding in the company and is now ZetaDisplay’s largest shareholder which (cynics would say is why Leif Liljebrunn, current President and CEO until they find a new one is stepping aside to become Vice President Mergers & Acquisitions) and in order to part-finance the repayment of the company’s preference shares, the Board of Directors, on the basis of the authorization received at the annual general meeting on 21 May 2018, has decided on a rights issue of 1 600 000 new ordinary shares at a subscription price of SEK 19 per ordinary share. This means that the company has added funds SEK 30.4 million before issue costs.
We note also that Virala Oy AB has increased its holding further and now controls 14.1% of the votes.
Leif Liljebrunn was quoted as saying “We leave the first quarter of 2019 behind us with continued strong organic growth, focus on contracted services and the implementation of strategic initiatives as important success factors. Regarding new customers, we have been able to sign a contract with the public transport company for Oslo and Akershus, Ruter. The deployment of Digital Signage installations at 44 CityGross grocery stores has been finalized in Sweden. Demand in all markets has been good and the organization has worked consistently to increase the proportion of contracted services, which is in line with our strategy”.
“We are growing together with existing and new customers. To meet the demand, we have increased the number of employees. New recruitments have taken place in the business segments in sales and project management. Group-wide functions have also been expanded to drive professionalization, internationalization and harmonization. Today, we are on average 137 employees. We see an increased demand for our offer from internationally established chains and brands. Through our international presence we are uniquely positioned to meet this demand. We are currently concentrating our efforts to scalable turnkey solutions to this customer category, no matter where they are in the world”.
This is information that ZetaDisplay AB is required to publish under the EU Market Abuse Regulation. The information was submitted, on the authority of Leif Liljebrunn for publication at 08:45 A.M CET on May 21, 2019.