Quant AB

Interim Report October - December 2019

STOCKHOLM, Feb. 28, 2020 /PRNewswire/ -- October-December

• Net sales for the period decreased by 4.1% to EUR 50.3 (52.4) million. Organically, net sales decreased by 8.6%
• During the quarter the contract portfolio developed positively. One contract was won, four contracts were renewed, and no contracts were lost, which on balance affected the contract portfolio positively. Portfolio run rate annualized net sales at the end of the quarter was EUR 187.0 million, compared to EUR 178.4 million during the third quarter of 2019
• Operating profit amounted to EUR 0.8 million, compared to a loss of EUR -2.3 million prior year
• Adjusted EBITDA increased to EUR 4.0 million from EUR 2.3 million prior year, excluding the effect of implementation of IFRS 16 Leases. Adjusted EBITDA with IFRS 16 implementation was EUR 5.0 million. Currency effects had a minor negative effect in the period
• Cash flow from operating activities amounted to EUR -2.0 (-1.8) million, of which change in working capital amounted to EUR -5.2 (-0.7) million
• Net profit amounted to EUR -0.4 million compared to a loss of EUR -3.8 million prior year
• The Adjusted EBITDA for Discontinued operations was EUR -0.4 (-0.4) million and the net loss was EUR -0.4 (-1.7) million, which is not included in the reported numbers above
• Group net loss for the quarter, including discontinued operations, was EUR -0.8 (-5.5) million

January-December

• Net sales for the period increased by 10.6% to EUR 196.6 (177.8) million due primarily to the full year impact of the acquisition of Sataservice in August 2018. Organically, net sales decreased by 2.8%
• Operating loss amounted to EUR -0.9 million, up from a loss of EUR -4.2 million prior year
• Adjusted EBITDA increased to EUR 14.0 million from EUR 11.4 million prior year, excluding the effect of implementation of IFRS 16 Leases. In constant currency Adjusted EBITDA would have been EUR 14.4 million. Adjusted EBITDA with IFRS 16 implementation was EUR 18.3 million
• Cash flow from operating activities amounted to EUR 8.4 (-5.7) million, of which change in working capital amounted to EUR 3.7 (-4.3) million
• Net loss amounted to EUR -7.1 million compared to EUR -18.1 million prior year
• The Adjusted EBITDA for Discontinued operations was EUR -2.1 (-1.1) million and the net loss was EUR -17.4 (-3.5) million, which is not included in the reported numbers above. Group net loss for the year, including discontinued operations, was EUR -24.5 (-21.5) million

Significant events during the quarter