IAR Systems Group AB (publ) Interim Report Jan-June 2018
Sales up 17% in second quarter
Net sales for the period of SEK 184m and EBITDA of SEK 65m
Operating margin of 29% and cash flow of SEK 44m
JANUARY-JUNE 2018
›› Net sales of SEK 184.5m (173.2)
›› Sales growth in local currency of 12%
›› EBITDA of SEK 64.7m (61.5), corresponding to an EBITDA margin of 35.1% (35.5)
›› Operating profit of SEK 53.2m (52.0), corresponding to an operating margin of 28.8% (30.0) Operating
profit was charged with acquisition expenses of SEK 3.2m
›› Profit before tax of SEK 51.1m (51.1)
›› Basic earnings per share of SEK 2.97 (3.17) and diluted earnings per share of SEK 2.97 (3.17)
›› Earnings per share of SEK 2.98 (3.92) after current tax
›› Cash flow from operating activities of SEK 44.3m (58.8)
›› Net cash of SEK 81.7m (61.7) at the end of the period
APRIL-JUNE 2018
›› Net sales of SEK 95.6m (86.8)
›› Sales growth in local currency of 17%
›› EBITDA of SEK 30.0m (30.9), corresponding to an EBITDA margin of 31.4% (35.6)
›› Operating profit of SEK 23.7m (25.8), corresponding to an operating margin of 24.8% (29.7) Operating
profit was charged with acquisition expenses of SEK 3.2m
›› Profit before tax of SEK 22.0m (25.7)
›› Basic earnings per share of SEK 1.20 (1.68) and diluted earnings per share of SEK 1.20 (1.68)
›› Earnings per share of SEK 1.22 (1.98) after current tax
›› Cash flow from operating activities of SEK 25.2m (32.3)
KEY EVENTS DURING THE PERIOD
›› A private placement was implemented of 812,000
new class B shares, generating a gain for the company of SEK 178.6m before issue expenses.
›› IAR Systems acquired Secure Thingz and conducted non-cash issue. See also Note 7 “Acquisition of Secure Thingz.”
›› The Extraordinary General Meeting on June 16 voted to introduce a long-term incentive scheme for employees. The Meeting also voted in line with the Board’s proposal concerning the exchange of warrants for employees in conjunction with the
acquisition of Secure Thingz Inc.
IAR Systems Contacts
Josefin Skarin, Investor Relations, IAR Systems Group AB
Email: josefin.skarin@iar.com
Stefan Skarin, CEO and President, IAR Systems Group AB
Email: stefan.skarin@iar.com
This information is information that IAR Systems Group 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 above, at 14.00 CET on August 15 2018.
IAR Systems supplies future-proof software tools and services for embedded development, enabling companies worldwide to create the products of today and the innovations of tomorrow. Since 1983, IAR Systems’ solutions have ensured quality, reliability and efficiency in the development of over one million embedded applications. The company is headquartered in Uppsala, Sweden and has sales and support offices all over the world. IAR Systems Group AB is listed on NASDAQ OMX Stockholm, Mid Cap. Learn more at www.iar.com.