Sinch AB: Interim report, January-March 2024

STOCKHOLM, May 7, 2024 /PRNewswire/ —

January–March 2024

Net sales decreased by 2 percent to SEK 6,792m (6,927).Gross profit increased by 2 percent to SEK 2,312m (2,260).EBITDA rose by 11 percent to SEK 768m (692).Adjusted EBITDA1 decreased by 5 percent to SEK 794m (834).The loss after tax for the quarter was SEK -90m (-78).Basic earnings per share were SEK -0.11 (-0.09) and diluted earnings per share were SEK -0.11 (-0.09).Cash flow from operating activities was SEK 553m (212).

“Reigniting our growth with improved profitability is the key objective of the transformation
 work that we are now undertaking.” – Laurinda Pang, CEO

Significant events during the quarter

The new operating model, organization and management team became operational on 1 January 2024. From this quarter, the financial reporting has been changed to reflect this change. The new operating segments consist of the three regions Americas, EMEA and APAC. In addition, a complementary view consisting of the three product categories Applications, API platform and Network Connectivity is reported. More info at sinch.com.Credit facilities that amounted to SEK 6,500m and USD 110m at the end of the year were extended by one year. The new maturity date is February 2027.Juniper Research names Sinch as a CPaaS market leader in Competitor Leaderboard 2024.Sinch was recognized as the 2024 Adobe Digital Experience ISV Resell Partner of the Year. Adobe’s Digital Experience partner awards honor companies that have made leading contributions to Adobe’s business and have had a significant impact on customer success.Julia Fraser, Executive Vice President Americas, Wendy Johnstone, Executive Vice President APAC, and Ilse van der Haar, Chief Legal Officer, became new members of Sinch’s Global Management Team in the quarter.

Significant events after the end of the quarter

Sinch published restated historical segment reporting after implementation of the new operating model. The restated historical segment reporting does not affect Sinch’s previously reported total Net sales or profit.Sinch published its Annual Report for 2023.

Invitation to webcast and phone conference

Sinch will present the interim report in a webcast and phone conference on Tuesday, 7 May 2024 at 14:00 CET. Watch the presentation at investors.sinch.com/webcast.

To participate via phone conference, register using the following link: https://conference.financialhearings.com/teleconference/?id=50048791 .
After you register, you will be given a phone number and conference ID to log into the conference.

For more information, please contact 

Ola Elmeland
Investor Relations
Mobile: +46 721 43 34 59
E-mail: [email protected]

Thomas Heath
Chief Strategy Officer & Head of Investor Relations
Mobile: +46 722 45 50 55
E-mail: [email protected]

Roshan Saldanha
Chief Financial Officer
Mobile: +46 73 660 2419
E-mail: [email protected]

About Sinch

Sinch is pioneering the way the world communicates. More than 150,000 businesses – including many of the world’s largest tech companies – rely on Sinch’s Customer Communications Cloud to improve customer experience through mobile messaging, voice and email. Sinch has been profitable and fast-growing since it was founded in 2008. It is headquartered in Stockholm, Sweden, with shares traded at NASDAQ Stockholm: XSTO:SINCH Learn more at sinch.com.

Note: 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 7 May 2024 at 07:30 CEST.
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.

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https://news.cision.com/sinch-ab/r/interim-report–january-march-2024,c3974347

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SOURCE Sinch AB