Adrian J Cotterill, Editor-in-Chief
ZetaDisplay AB (publ) (Nasdaq Stockholm: ZETA) brought forward the publication of its interim report for January-March 2021, following the we might be up for sale press release from them back in March, 2021 (the board of directors announced that they had decided to conduct a review of strategic alternatives for ZetaDisplay with the purpose of creating best possible value for the shareholders, blah blah blah).
In the interim report Per Mandorf, ZetaDisplay President and CEO said “We expect a gradual normalisation of demand in 2021. The first quarter has shown that decision-making processes are still longer than normal, however, we see clear indicators that demand is returning. We participate in several major international tenders and believe that the ongoing digitalization in society will accelerate once restrictions are removed. We maintain our positive view of a growing recovery in project sales during the second half of the year. Our improved international delivery capabilities are well in line with the digital transformation in society, and through the acquisition of Nordland we have opened for expansion in German-speaking markets (DACH). We continuously follow up our long-term financial targets, where the goal is to achieve SEK 200 million in SaaS revenues and SEK 100 million in EBIT by the end of 2022. These objectives remain within reach”.
First quarter – January – March 2021
- Net sales decreased by 14.3% to SEK 87.8 (102.4) million
- SaaS revenues amounted to SEK 40.1 (39.5) million. Organically, SaaS revenues increased by 2.2% at constant exchange rates
- EBITDA amounted to SEK 11.4 (-6.2) million. Adjusted for acquisition cost, EBITDA for the first quarter amounted to SEK 13.3 million
- ARR amounted to SEK 173.5 million compared to SEK 160.3 million in the previous quarter
- Operating profit amounted to SEK 3.1 (-15.5) million
- Earnings per share before and after dilution amounted to SEK 0,08 (-0,56) and SEK 0,08 (-0,56) SEK respectively
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