Interim Report - Cinnober Financial Technology AB
January 1, 2017 – March 31, 2017
- Net sales for the period amounted to SEK 85.6 million (SEK 76.3 million).
- The operating loss for the period amounted to SEK 1.9 million (profit SEK 1.1 million).
- The loss before tax for the period amounted to SEK 2.9 million (profit SEK 0.5 million).
- Earnings per share before dilution for the period amounted to a loss of SEK 0.67 (profit SEK 0.06).
- The proportion of recurring revenue for the period amounted to 65 percent (60 percent) of net sales.*
- Growth initiatives burdened operating earnings by SEK 11.0 million. During the period, a new directed share issue was carried out for SEK 180 million to fund investment in a subsidiary working with client clearing.
- Medium-sized deal during the period with a new Asian marketplace for real-time clearing.**
- Several systems taken into production by customers during the spring – including a new trading system in Australia deployed at the end of the period and preparations for the launch of the second phase in a major Brazilian clearing project.
* 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 holds a very strong position in its traditional market. Our core business is growing and continues to show improved profitability”, says Veronica Augustsson, CEO, in a comment. ”Over 2017, continued growth is expected, with improved profitability in our core business, but, at the same time, planned costs for our growth initiatives. Our focus areas in the future are, above all, intensive investment in clearing for banks, while continuing to cultivate our subsidiary Boat’s unique market position and increasing profitability and sales in our core business.”
Attachment: Interim Report January 1, 2017 – March 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 May 4, 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 nearly 300 people representing some 40 nationalities.
- It offers solutions in price discovery, order matching, market data, index calculations, clearing, risk management and market surveillance.
- The Cinnober share is listed on NASDAQ First North (CINN, ISIN code: SE0000778474, LEI code: 529900596KTN6Q8T7576). Avanza is the Certified Adviser.