Interim Financial Report - Cinnober Financial Technology AB
Period January 1, 2016 – June 30, 2016
- Net sales for the period amounted to SEK 149.2 million (SEK 139.8 million).
- Operating loss for the period amounted to SEK 7.4 million (profit SEK 1.5 million).
- Loss before tax for the period amounted to SEK 7.6 million (profit SEK 2.1).
- Earnings per share before dilution for the period amounted to a loss of SEK 1.03 (profit SEK 0.05).
- The proportion of recurring revenue for the period amounted to 64 percent of net sales.*
- Major deal with Japan Exchange Group (JPX) for real-time clearing for the Japanese derivatives market. In addition, a smaller deal was signed regarding advanced risk calculations for all asset classes traded in the Japanese financial market.**
- Following the end of the period, a major international exchange group ordered a design study involving both real-time clearing and CSD systems.
* 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 currently in a phase of expansion. We are growing and have taken on large projects, which have impacted profitability negatively”, says Veronica Augustsson, CEO, in a comment. “At the same time, we are focusing on broadening the product portfolio and expanding our market through investments in real-time clearing, client clearing and the reporting service for OTC transactions. The fact that our operations now rest on four pillars, all with considerable potential, means that we continue to see a bright future.”
Attachment: Interim Report January 1, 2016 – June 30, 2016
This information is information that Cinnober Financial Technology AB is obliged to make public pursuant to the EU Market Abuse Regulation and the Securities Markets Act. The information was submitted for publication, through the agency of the contact person set out below, at 11:00 a.m. CET on 25 August 2016.
For further information: Veronica Augustsson, CEO, phone +46 8 503 047 00, firstname.lastname@example.org.
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 260 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, LEI code: 529900596KTN6Q8T7576). Avanza is the Certified Adviser.