Interim Financial Report - Cinnober Financial Technology AB
January 1, 2018 – March 31, 2018
- Net sales for the period amounted to SEK 85.1 million (85.6).
- The proportion of recurring revenue for the period amounted to 75.7 percent (65.0) of net sales.
- The operating loss for the period amounted to SEK 37.2 million (loss 1.9).
- The loss before tax for the period amounted to SEK 31.2 million (loss 2.9).
- Earnings per share before dilution for the period were negative in the amount of SEK 1.47 (negative 0.22).
- Growth initiatives had a negative impact of SEK 35.5 million (negative 10.9) on EBITDA.
- During the period, Japan Exchange Group launched a new clearing and risk system based on Cinnober’s technology for the Japanese derivatives market.
- On January 3, MiFID II entered into force along with the launch of our service TRADEcho, provided in partnership between Simplitium and the London Stock Exchange Group.
“Cinnober has experienced a slow start to the year from a revenue and profitability perspective, primarily within the Simplitium business area, but also attributable to our core business within exchange and clearing technology”, says Veronica Augustsson, CEO, in a comment. “During the last year, our growth initiatives have consumed considerable time and resources, and current focus is now to return to profitability, improve cost control and clarify responsibilities within the Group. In the second quarter, a cost savings program has been initiated with the aim to achieve a significantly lower cost base.”
Attachment: Interim Report January 1, 2018 – March 31, 2018
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 May 3, 2018 at 08.00 a.m. CET.
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.
- 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.