SinchAB: Interim Report, January - June 2024

STOCKHOLM, July 19, 2024 /PRNewswire/ -- 

Stable performance and strong cash flow

April – June 2024           

• Net sales increased marginally to SEK 7,041m (7,021).
• Gross profit increased by 3 percent to SEK 2,386m (2,322).
• EBITDA rose by 11 percent to SEK 792m (715).
• Adjusted EBITDA increased slightly to SEK 867m (865).
• Profit after tax for the quarter was SEK 95m (-70).
• Basic earnings per share were SEK 0.11 (-0.08) and diluted earnings per share were SEK 0.11 (-0.08).
• Cash flow from operating activities was SEK 1,049m (-13).

January – June 2024

• Net sales decreased by 1 percent to SEK 13,833m (13,948).
• Gross profit increased by 3 percent to SEK 4,698m (4,582).
• EBITDA rose by 11 percent to SEK 1,560m (1,408).
• Adjusted EBITDA decreased by 2 percent to SEK 1,661m (1,698).
• Profit after tax for the period was SEK 5m (-148).
• Basic earnings per share were SEK 0.01 (-0.18) and diluted earnings per share were SEK 0.01 (-0.18).
• Cash flow from operating activities amounted to SEK 1,602m (199).

Significant events during the quarter

• Sinch implemented new segment reporting and released restated historical segment reporting.
• Sinch established an MTN program for borrowing on the capital market with a framework amount of SEK 6bn. The base prospectus has been approved and registered by Finansinspektionen.
• Johan Stuart stepped down from the board of directors for personal reasons.
• Sinch was recognized as a 2024 Gartner Magic Quadrant Leader for CPaaS.

Significant events earlier this year

• The new operating model, organization and management team became operational on 1 January 2024.

Significant events after the quarter

• Sinch's IT organization will be brought together under Chief Data and Transformation Officer Sibito Morley. The change means that Sinch's CIO Cristina David will leave the Global leadership team on 12 August.
• Sinch plans to hold a Capital Markets Day for investors on 20 November at which management will provide in-depth information about the business, growth opportunities and the market. The event will be held in Stockholm and available via webcast. Further information will be provided in Q3.

Invitation to webcast and phone conference

Sinch will present the interim report in a webcast and phone conference on Friday, 19 July 2024 at 14:00 CEST. Watch the presentation at investors.sinch.com/webcast.

To participate via phone conference, register using the following link: https://conference.financialhearings.com/teleconference/?id=50048792.

After you register, you will be given a phone number and conference ID to log into the conference.

For additional information, please contact

Ola Elmeland, Investor Relations
+46 72 143 34 59
investors@sinch.com
Thomas Heath, Chief Strategy Officer and Head of Investor Relations
+46 72 245 50 55
investors@sinch.com
Roshan Saldanha, Chief Financial Officer
+46 73 660 24 19
investors@sinch.com 

About Sinch

Sinch is pioneering the way the world communicates. More than 150,000 businesses – including many of the world's largest tech companies – rely on Sinch's Customer Communications Cloud to improve customer experience through mobile messaging, voice and email. Sinch has been profitable and fast-growing since it was founded in 2008. It is headquartered in Stockholm, Sweden, with shares traded on NASDAQ Stockholm: XSTO:SINCH. Read more at sinch.com.

Note: Sinch AB (publ), is required to publish the information in this interim report pursuant to the EU Market Abuse Regulation and the Swedish Securities Market Act. The information was released for publication by the contact person above on 19 July 2024 at 07:30 CEST.

This report is published in Swedish and English. In case of any differences between the English version and the Swedish original text, the Swedish version shall apply. 

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