Interim Financial Report - Cinnober Financial Technology AB
Period January 1, 2016 – March 31, 2016
- Net sales for the period amounted to SEK 76.3 million (SEK 68.0 million).
- Operating profit for the period amounted to SEK 1.1 million (SEK 0.0 million).
- Profit before tax for the period amounted to SEK 0.5 million (SEK 0.9 million).
- Earnings per share before dilution for the period amounted to SEK 0.06 (SEK 0.04).
- The proportion of recurring revenue for the period amounted to 60 percent of net sales*.
- Major deal with Japan Exchange Group for real-time clearing for the Japanese derivative market.**
- After the end of the period, yet another contract has been signed with JPX regarding advanced risk calculations for all asset classes traded in the Japanese financial market. This deal is categorized as minor deal.**
* To improve comparability between periods, re-invoiced expenses have been excluded from net sales in the calculation of recurring revenues.
** See commercial definitions on p.15 in the full Interim report.
“Cinnober is growing and the optimism in the market is tangible”, says Veronica Augustsson, CEO, in a comment. “The finance sector is on the verge of higher IT investments, which are being stimulated by extended regulations and higher efficiency requirements. The positive signals are reflected in net sales for the period reaching SEK 76.3 million, an increase of SEK 8.3 million compared with the corresponding quarter in 2015. The sales growth is due to a higher influx of customers and that we are currently carrying out major projects for some of the world’s largest exchanges.”
Attachment: Interim Report January 1, 2016 – March 31, 2016
Cinnober Financial Technology discloses the information provided herein pursuant to the Securities Market Act (Sw. “Lagen om värdepappersmarknaden”). The information was submitted for publication on May 3, 2016 at 11:00 (CET).
For further information: Veronica Augustsson, CEO, phone +46 8 503 047 00, email@example.com.
Cinnober in brief:
- Cinnober develops business-critical system solutions for exchange trading, risk management and other financial services.
- Its target group consists primarily of international stock exchanges, clearinghouses, banks and brokerages.
- The company was founded in 1998, currently has over 250 employees (excluding consultants), representing some thirty nationalities.
- It offers solutions in price discovery, order matching, market data, index calculations, clearing, risk management and market surveillance.
- Cinnober’s shares are listed on the Nasdaq First North exchange (CINN, ISIN code: SE0000778474). Avanza is the Certified Adviser.