January-March 2022
- Net sales increased by 96 percent to SEK 6,550m (3,350).
- Gross profit grew by 156 percent to SEK 2,096m (820).
- EBITDA rose by 237 percent to SEK 648m (192).
- Adjusted EBITDA1 increased by 183 percent to SEK 760m (269).
- Profit after tax for the quarter amounted to SEK 88m (141).
- Basic earnings per share were SEK 0.11 (0.42) and diluted earnings per share were SEK 0.11 (0.41).
"Businesses can now use our best-of-breed offering to engage with customers through both mobile messaging, voice and email - and we have the expertise to serve both enterprise customers, developers, as well as small and medium sized businesses." - Oscar Werner, CEO
Significant events during the quarter
- Sinch announced (https://investors.sinch.com/sv/news-releases/news-release-details/sinch-infor-ny-verksamhetsmodell-och-forandrar-ledningsgruppen) on 3 February that the company will be organized into five business units: Enterprise & Messaging, Voice, Developer & Email, Applications and SMB. In conjunction, changes were made to the Sinch management team, including the addition of Ed O'Hara, former CEO of Inteliquent, Will Conway, former CEO of Pathwire and Paul Perrett, former CEO of MessageMedia.
- Sinch announced (https://investors.sinch.com/sv/news-releases/news-release-details/sinch-beslutar-om-apportemission-av-aktier-till-saljarna-av) on 10 February that the board of directors, as per the press release dated 7 December 2021, had decided to execute a non-cash issue of 25.5 million shares to the sellers of Pathwire. The remaining 25.5 million shares will be issued in May 2022.
- Sinch announced on 17 February that the company had entered into a 3+1+1 year credit agreement for approximately SEK 7,500m with a syndicate of nine banks. The agreement replaces a facility agreement from November 2016 and part of the bridge loan raised in connection with acquisitions in 2021. On the same date, Sinch notified the market that it had made a three-year loan agreement with the Swedish Export Credit Corporation in the amount of USD 110m. The new credit facilities have strengthened Sinch's financial position and further diversified the company's sources of financing.
Significant events after the end of the quarter
- The Sinch Annual Report 2021 was published on 22 April.
Invitation to webcast and phone conference
Sinch will present the interim report in a webcast conference on Thursday, 28 April at 14:00 CET. Watch the presentation at investors.sinch.com/webcastor call and register a couple of minutes in advance.
Sweden: +46 8 506 92 180
United Kingdom: +44 2071 928 000
USA: +1 631 510 7495
Access code: 887 7308
1) Adjusted EBITDA is reported to clarify performance in underlying operations and is one of Sinch's financial targets. See Note 2.
For further information, please contact
Ola Elmeland
Investor Relations Director
Mobile: +46 721 43 34 59
E-mail: investors@sinch.com
Thomas Heath
Chief Strategy Officer & Head of Investor Relations
Mobile: +46 722 45 50 55
E-mail: investors@sinch.com
Roshan Saldanha
Chief Financial Officer
Mobile: +46 73 660 24 19
Email: investors@sinch.com
About Sinch
Sinch's leading cloud communications platform lets businesses reach everyone on the planet, in seconds or less, through mobile messaging, email, voice and video. More than 150,000 businesses, including many of the world's largest companies and mobile operators, use Sinch's advanced technology platform to engage with their customers. Sinch has been profitable and fast-growing since its foundation in 2008. It is headquartered in Stockholm, Sweden, and has local presence in more than 60 countries. Shares are traded at NASDAQ Stockholm: XSTO:SINCH. Visit us at sinch.com.
Sinch AB (publ) is required to publish the information in this interim report pursuant to the EU Market Abuse Regulation. The information was released for publication by the contact person above on 28 April 2022 at 07:30 CET.
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. This report has not been subject to review by the company's independent auditor.
Attachment
- Sinch_2022Q1_ENG (https://ml-eu.globenewswire.com/Resource/Download/60aa5830-998b-4329-ae9f-baa28fc093b9)
