Strong profitability despite challenging environment for growth
Third quarter July - September 2024
- Net sales were SEK 112.3m (116.3), with growth of -3.5% and 0.8% in local currency.
- EBITDA of SEK 39.9m (43.4), corresponding to an EBITDA margin of 35.5% (37.3).
- Adjusted EBITDA of SEK 45.1m (47.3), corresponding to an adjusted EBITDA margin of 40.2% (40.7).
- Operating profit of SEK 26.3m (28.9), corresponding to an operating margin of 23.5% (24.8).
- Adjusted operating profit of SEK 31.6m (32.8), corresponding to an adjusted operating margin of 28.1% (28.2).
- Capitalized work on own account amounted to SEK 14.8m (7.2).
- In a year-on-year comparison, currency translation had a negative impact of SEK 5.1m on net sales and a negative impact of SEK 2.2m on operating profit for the period.
- Cash flow from operating activities amounted to SEK 27.7m (51.8).
January - September 2024
- Net sales were SEK 355.2m (332.2), with growth of 6.9% and 10.0% in local currency.
- EBITDA of SEK 127.4m (99.1), corresponding to an EBITDA margin of 35.9% (29.8).
- Adjusted EBITDA of SEK 137.3m (106.4), corresponding to an adjusted EBITDA margin of 38.6% (32.0).
- Operating profit of SEK 85.6m (51.7), corresponding to an operating margin of 24.1% (15.6).
- Adjusted operating profit of SEK 95.5m (63.7), corresponding to an adjusted operating margin of 26.9% (19.2).
- Capitalized work on own account amounted to SEK 35.9m (27.0).
- In a year-on-year comparison, currency translation had a negative impact of SEK 10.2m on net sales and a negative impact of SEK 6.5m on operating profit for the period.
- Cash flow from operating activities amounted to SEK 96.1m (107.2).
Third quarter in brief
- Cecilia Wachtmeister assumes the role of CEO
- IAR resumes share buybacks
Contacts IR
Hanna Laurentz, Head of Corporate Communications, IAR
Tel: +46 735 12 51 37; E-mail: investorrelations@iar.com?
About IAR
At IAR, we provide world-leading software and services for embedded development, empowering companies globally to bring secure products that shape the future. Since its founding in 1983, our solutions have been instrumental in ensuring quality, security, reliability, and efficiency in the development of over one million embedded applications for a wide range of industries, including Automotive, Industrial Automation, IoT, MedTech, Military, and Public Safety sectors. With support for 15,000 devices from over 70 semiconductor partners, we are dedicated to fostering innovation and enabling our customers' success.
The company is headquartered in Uppsala, Sweden, with a global presence of sales and support offices strategically located across the world. IAR is an I.A.R. Systems Group AB subsidiary, listed on NASDAQ OMX Stockholm, Mid Cap (ticker symbol: IAR B). To learn more, visit us at www.iar.com.
This information is information that IAR Systems Group is obliged to make public pursuant to the EU Market Abuse Regulation. The information was submitted for publication, through the agency of the contact persons set out above, at 2024-10-24 13:00 CEST.
Image Attachments
Cecilia Wachtmeister CEO IAR
