mobilezone Group posts strong sales volumes and strengthens its MVNO position in Switzerland and Germany - Seite 2

Adjusted for the negative currency effect of CHF 0.9 million (previous year: CHF 2.7 million) and the special effects, EBIT totalled CHF 71.1 million in the reporting year (previous year: CHF 73.3 million).

 

Financial guidance

The guidance for 2023 and market expectations have been met with EBIT of CHF 65.7 million, despite a further negative currency effect of CHF 0.9 million. 

Key figures in brief 

• Currency-adjusted sales amounted to CHF 1,042 million (+3.9 per cent). Adjusted for acquisitions, organic sales totalled CHF 1,028 million. 70 per cent of consolidated sales of CHF 1,013 million were generated in Germany and 30 per cent in Switzerland (previous year: 69/31 per cent).
• Gross profit totalled CHF 205.4 million (previous year: CHF 201.0 million).
• MVNO sales increased from CHF 48.6 million (including Digital Republic: CHF 4.2 million) to CHF 63.7 million, with organic sales growth of 31 per cent.
• The MVNOs contribution to the EBITDA amounted to CHF 22.7 million (previous year: CHF 16.3 million) or 29.4 per cent (previous year: 20.5 per cent) of the total EBITDA of CHF 77.2 million (previous year: CHF 79.5 million).
• Operating income (EBIT) of CHF 65.7 million (previous year: CHF 70.6 million) with an EBIT margin of 6.5 per cent (previous year: 7.0 per cent), to which Switzerland and Germany contributed 54 per cent and 46 per cent respectively.
• EBIT excluding special effects totalled CHF 71.1 million (previous year: CHF 73.3 million)
  • Negative currency effect of CHF 0.9 million (previous year: CHF 2.7 million).
  • One-off costs of CHF 2.0 million from cost-cutting measures in Germany
  • One-off charge of over CHF 1 million from the insolvency of the OPPO distributor in Switzerland in the 4th quarter.
  • First-time amortisation in Germany of CHF 1.5 million from the launch of the newly developed online platforms and acquisitions made in the first half of the year.
• Financial expenses increased by CHF 3.3 million to CHF 5.2 million (previous year: CHF 1.9 million).
• Tax expenses amounted to CHF 11.4 million and decreased by CHF 2.8 million compared to the previous year (tax rate: 18.7 per cent, previous year: 20.7 per cent).
• Consolidated net income totalled CHF 49.5 million (previous year: CHF 54.5 million).
• Gross cash flow from operating activities totalled CHF 76.9 million (previous year: CHF 79.7 million).
• Net debt increased to CHF 91 million (previous year: CHF 30 million) due to the acquisition of Digital Republic (Switzerland), SIGA exchange and ENO (both Germany) and an increase in net working capital of CHF 40 million.
• The ratio of net debt to EBITDA was 1.18 (previous year: 0.38).
• Equity in the individual financial statements of mobilezone holding ltd totalled CHF 132 million (previous year: CHF 147 million).
• Earnings per share totalled CHF 1.15 (previous year: CHF 1.25).
• The Board of Directors will propose a dividend of CHF 0.90 per registered share to the General Meeting, similar to the previous year.
• The share price was CHF 13.72 on 31 December 2023 compared to CHF 15.32 at the end of December 2022.