Interim Report October - December, Q4
- Net sales increased 62.6 percent to SEK 108.5 (66.7) million
- EBIT was SEK 16.2 (-4.0) million
- The EBIT margin was 15.0 (-6.0) percent
- Profit after tax amounted to SEK 12.7 (-7.0) million
- Earnings per share before/after dilution amounted to SEK 0.7 (-0.4)
- Cash flow from operating activities amounted to SEK 10.5 (47.2) million.
January - December
- Net sales increased 7.4 percent to SEK 333.0 (310.1) million
- EBIT was SEK 44.3 (28.6) million
- The EBIT margin was 13.3 (9.2) percent
- Profit after tax amounted to SEK 34.8 (16.3) million
- Earnings per share before/after dilution amounted to SEK 1.9 (0.9)
- Cash flow from operating activities amounted to SEK 10.2 (52.0) million
- Cash and cash equivalents at the end of the period amounted to SEK 66.0 (101.2) million
Comments from the CEO
Delivery activity in the fourth quarter was very high and sales in the quarter amounted to SEK 108.5 million, which corresponds to an increase of 63 percent compared with the same period last year. Sales in the quarter were also the highest in MSAB's history. EBIT for the quarter was SEK 16.2 million, which shows the strength of our business model. Sales for the full year were also the highest in MSAB's history and amounted to SEK 333 million. EBIT for the full year was SEK 44 million, an increase of 55 percent compared with the same period last year. The fact that sales were at a record high during the fourth quarter is a direct consequence of the long-term work we continuously do to constantly increase the value of our solutions for our customers.
We manage earnings and sales in an environment where component shortages, uncertain delivery times and increased costs for both components and freight have become the new normal. MSAB continues to be one of the
leading companies with a wide range of solutions that we offer for different customers and areas of use.
Thanks to the strong end of the year, the new year will start with a strong cash flow. My view is that MSAB is stronger than ever, and we’re prepared for 2022 to be a successful year.
I am pleased that almost two years after the pandemic hit the world, MSAB is in a very solid financial shape and continues to be one of the leading players in the industry.
The importance of mobile forensic products and services for law enforcement agencies continues to be high, and the requirements to ensure a secure chain of custody of digital data and products, are increasing. Mobile phones are almost always used as evidence in criminal investigations and increasingly require that the tools used to gain access to this potentially crucial evidence be provided in a fast, efficient and, above all, legally secure manner.
MSAB places great weight to human rights and is a leading party in some of the most important initiatives where the goal is to create international standards for these products and services that protects the personal integrity of individuals, and that human rights, as they relate to the individual’s right to privacy, are respected. One of these projects is ForMobile. An EU initiative aimed at "creating a mobile forensic evidence chain from start to finish, with the aim of making the EU safer, while respecting fundamental human rights". The fact that MSAB is part of this standardization work within the EU is a direct consequence of the fact that we have been a market leader for a long time when it comes to providing a platform that protects not only the reliability of evidence, but also individual integrity. MSAB's key role in this important project is proof of our reputation and the high demands on integrity and social responsibility we place on ourselves and the solutions we provide.
I look forward to yet another successful year for MSAB in 2022.
Joel Bollö, CEO
Stockholm, January 2022
The information in this report is such that MSAB, Corporate ID number 556244-3050, is required to disclose in accordance with the EU’s Market Abuse Regulation. The information in this report was submitted for publication on 27 January, 2022 at 08:00 CEST.
Questions should be addressed to:
Chief Executive Officer Joel Bollö
Tel. +46 8 739 0270
MSAB is a world leader in forensic technology for extracting and analyzing data in seized mobile devices. The company develops high-quality and easy-to-use software for law enforcement organizations, such as police, military, and customs. The products, which have become a de facto standard for securing evidence in criminal investigations, can be supplemented with reporting tools and a large range of training with certifications within a holistic method for forensic science. The company serves customers worldwide, through its own sales offices and through distributors. MSAB is listed on Nasdaq Stockholm under the ticker name: MSAB. www.msab.com