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Organic Sales Growth of 63.2%, EBITDA margin of 36.3% and Positive Operating Cashflow

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Financial Highlights

  • Net sales in Q3 were SEK 8.5m, corresponding to a 63.2% increase compared with the same period in 2020 (SEK 5.2m). Sales growth in Q3 based on constant currency was 70.0% compared with the same period in 2020.  Sales for the rolling twelve months period was SEK 36.3m.
  • EBITDA of SEK 3.1m (SEK -13.7m) corresponding to an EBITDA margin of 36.3% compared to -261.3% for the comparative period. EBITDA before FX-translation was SEK 0.7m (SEK -16.0m) which is a more accurate reflection of underlying earnings. 
  • Net profit was SEK 0.9m compared with a loss in the same period in 2020 (SEK -16.1m).
  • Basic earnings per share amounted to SEK 0.02 (-2.26).
  • Operating cashflow in Q3 was SEK 2.4m which was driven by more stable collections and regularisation of tax payments as COVID delay payment supports are ended.

Operational Highlights

  • 59 new agreements were signed in FY 2021 Q3.
  • First to the market to be awarded a new BSI Kitemark™ certification for Building Information Modelling (BIM) software.
  • New customer wins with leading contractors and developers including McGarrell Reilly, Durkan Enterprises and Quintain Ireland.
  • Continued expansion of our executive leadership team with new hire of COO to streamline processes and bring best in market operational processes.
  • New marketing investment and initiatives to promote new certifications and promoting recent changes in Zutec.
  • We changed our certified advisor to Redeye during the quarter.
  • SEB initiated coverage of Zutec.

Significant Events after the Period

  • Createmaster Limited which had revenues of SEK 43m for the 12 month period ending 31 December 2020 was acquired on the 19th of April 2021
  • Brian McGuire resigned from the board of directors on the 22nd of April 2021.

The interim report for 1 January to 31 March 2021 is attached as a PDF file.

For further information, please contact

Gustave Geisendorf, CEO

Tel: +353 1 21 3565

Email: gustave.geisendorf@zutec.com

This is information that Zutec Holding AB (publ) is obliged to make public pursuant to the EU Market Abuse Regulation. The information was submitted for publication, through the agency of the contact person set out above, on April 22, 2021 at 07.30 CET.

About Zutec

Zutec is a provider of cloud-based construction management software with offices in Dublin, London and Melbourne. Zutec Holding AB (publ) is listed on Nasdaq First North Growth Market and Redeye AB is the Company’s acting Certified Adviser (Tel. +46 8 121 576 90, certifiedadviser@redeye.se,  www.redeye.se).

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