Complement to press release published on February 22, 2018 at 08.30 a.m. CET

Press release complemented with information for the fourth quarter 2017.

Year-end Report

Cinnober Financial Technology AB (publ)

October 1, 2017 – December 31, 2017

  • Net sales amounted to SEK 85.7 million (98.4).
  • The proportion of recurring revenue* amounted to 75.9 percent (66.7) of net sales.
  • EBITDA was negative in the amount of SEK 42.8 million (positive 9.7).
  • The operating loss amounted to SEK 43.6 million (profit 9.1).
  • The loss before tax amounted to SEK 44.0 million (profit 8.3).
  • Earnings per share before dilution were negative in the amount of SEK 1.97 (positive 0.30).
  • Growth initiatives had a negative impact of SEK 46.6 million on EBITDA.

January 1, 2017 – December 31, 2017

  • Net sales amounted to SEK 348.6 million (330.9).
  • The proportion of recurring revenue* amounted to 72.7 percent (66.8) of net sales.
  • EBITDA was negative in the amount of SEK 90.7 million (positive 11.8).
  • The operating loss amounted to SEK 93.4 million (profit 9.5).
  • The loss before tax amounted to SEK 95.9 million (profit 8.8).
  • Earnings per share before dilution were negative in the amount of SEK 4.46 (positive 0.22).
  • Growth initiatives had a negative impact of SEK 106.2 million on EBITDA.
  • A directed new share issue of SEK 175.3** million was carried out to fund the subsidiary Minium’s investment in client clearing. Minium’s operations burdened EBITDA by SEK 50.3 million.
  • The acquisition of assets in UK company Ancoa, active in market surveillance systems, was carried out in May. The operations burdened EBITDA by SEK 25.3 million.
  • Major deployments during the year – including the second phase of a major Brazilian clearing project and a new trading system for the Australian derivatives market.
  • The Board proposes that no dividend be paid for the financial year.

* See financial definitions on p.19 in the full Year-end Report
** New share issue net after transaction costs

“We see a number of business opportunities and have in recent years made significant investments, based on our core operations, to ensure that we are properly positioned for the market’s future needs. With a stable core business, strong financial position and a business model with a high percentage of recurring revenue and long-term contracts, we look forward to continuously broadening our market and further strengthening our position in selected areas in both the short and long term”, says Veronica Augustsson, CEO, in a comment.

Attachment: Year-end Report January 1, 2017 – December 31, 2017

This information is such that Cinnober Financial Technology AB (publ) is obliged to publish under the EU Market Abuse Regulation and the Securities Market Act. This financial report was published on February 22, 2018 at 13:00 p.m. CET.

For further information
Veronica Augustsson, CEO, phone +46 8 503 047 00, veronica.augustsson@cinnober.com

Cinnober in brief

  • Cinnober develops business-critical system solutions for exchange trading, risk management and other financial services.
  • Target group consists primarily of international exchanges, clearinghouses, banks and brokerages.
  • Offers solutions in price discovery, order matching, market data, index calculations, clearing, risk management and market surveillance.
  • The company was founded in 1998 and currently has about 350 employees (excluding consultants), representing some 40 nationalities.
  • The Cinnober share is listed on NASDAQ First North (CINN, ISIN code: SE0010023556, LEI code: 529900596KTN6Q8T7576). Avanza is the Certified Adviser. 

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About Us

Cinnober Financial Technology is an independent, world-leading supplier of financial technology. Founded in Sweden in 1998, the company has offices in Stockholm, Umeå and London. Cinnober provides solutions and services to leading trading and clearing venues, including exchanges, clearinghouses, banks and brokers. Cinnober’s solutions are largely based on the TRADExpress™ Platform, incorporating everything needed for mission-critical solutions in terms of performance, robustness and flexibility. The portfolio of offerings includes price discovery and matching, real-time risk management, clearing and settlement, index calculation, data distribution and market surveillance. Cinnober’s customers include the Asia Pacific Exchange, Australian Securities Exchange, B3, Dubai Gold & Commodities Exchange, Euronext, Japan Exchange Group, Johannesburg Stock Exchange, the London Metal Exchange, LME Clear, NYSE and the Stock Exchange of Thailand. Cinnober’s shares are traded on the Nasdaq First North exchange and the company’s Certified Advisor is FNCA Sweden AB. For additional information, please visit www.cinnober.com.