Interim Financial Report - Cinnober Financial Technology AB
January 1, 2017 – June 30, 2017
- Net sales for the period amounted to SEK 177.4 million (SEK 149.2 million).
- The operating loss for the period amounted to SEK 30.6 million (loss SEK 7.4 million).
- The loss before tax for the period amounted to SEK 32.3 million (loss SEK 7.6 million).
- Earnings per share before dilution for the period amounted to a loss of SEK 1.49 (loss SEK 0.34).
- The proportion of recurring revenue for the period amounted to 70 percent (64 percent) of net sales.*
- Growth initiatives burdened operating earnings by SEK 37.8 million. During the period, a directed share issue of SEK 180 million was carried out to fund investment in a subsidiary within client clearing.
- The acquisition has been completed of UK-based market surveillance specialist company Ancoa, which initially weighed down earnings for the period by SEK 4.9 million.
- Medium-sized deal during the period with a new Asian marketplace for real-time clearing.**
- Several major deployments during the year – including a new trading system in Australia deployed in the spring and preparations for the launch of the second phase in a major Brazilian clearing project next week.
* To improve comparability between years, 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 continues to expand with sales growth of 18.9 percent at the same time as planned expenses for our growth initiatives have significantly weighed down earnings.”, says Veronica Augustsson, CEO, in a comment. “The Group’s offerings are well-positioned for the future needs of the market. Despite the planned costs for our growth initiatives, which we allow to impact our income statement, we expect to deliver continued growth and profitability in our core operations for 2017.”
Attachment: Interim Report January 1, 2017 – June 30, 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 August 24, 2017 at 11.00 a.m. 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 exchanges, clearinghouses, banks and brokerages.
- Cinnober was founded in 1998 and it currently employs over 330 people representing some 40 nationalities.
- It offers solutions in price discovery, order matching, market data, index calculations, clearing, risk management, market surveillance and trade reporting services.
- Cinnober’s shares are traded on the Nasdaq First North exchange (CINN, ISIN code: SE0010023556, LEI code: 529900596KTN6Q8T7576). Avanza is the Certified Adviser.