Year-End Report January-December 2018
20% growth in 2018
The fourth quarter
- Net sales amounted to MSEK 68.9 (57.5), rendering a sales growth of 20% (23%). Organic net sales growth was 19% (9%)
- Recurring revenue amounted to MSEK 37.1 (30.8)
- Costs relating to the listing on Nasdaq Stockholm, items affecting comparison, amounted to MSEK 6.9 (0)
- Adjusted EBITA amounted to MSEK 15.5 (12.7) which corresponds to an adjusted EBITA margin of 23% (22%)
- Net income amounted to MSEK 4.2 (5.4)
- Earnings per share, before dilution, amounted to SEK 0.34 (0.43) and diluted to SEK 0.32 (0.41)
2018 in brief
- Net sales amounted to MSEK 244.3 (203.9), rendering a sales growth of 20% (27%). Organic net sales growth was 16% (15%)
- Recurring revenue amounted to MSEK 138.5 (110.2)
- Costs relating to the listing on Nasdaq Stockholm, items affecting comparison, amounted to MSEK 9.4 (0)
- Adjusted EBITA amounted to MSEK 54.3 (45.3) which corresponds to an adjusted EBITA margin of 22% (22%)
- Net income amounted to MSEK 24.3 (23.7)
- Earnings per share, before dilution, amounted to SEK 1.94 (1.90) and diluted to SEK 1.83 (1.79)
- The Board of Directors will propose to the Annual General Meeting a dividend of SEK 1.0 per share, on a diluted basis, corresponding to MSEK 13.0.
During Q4, the first quarter as a listed company, Lime has continued to show growth and an increased order intake.
On December 6, 2018, Lime Technologies’ shares were listed on Nasdaq Stockholm. While we were meeting potential investors, stock exchanges around the world were shivering. Many other IPOs were withdrawn or postponed, and companies who have followed through with their listings have often faced a rough start with negative share price developments.
We are proud of our successful listing during a time of turbulent markets, as well as the positive share price development and the many new knowledgeable shareholders we now have. The shareholders are a healthy mix of individuals and institutions with backgrounds and knowledge in IT and software development, many of which reside outside Sweden. To everyone who received an allotment during the listing, or who have invested in our shares thereafter, we’d like to extend our warmest welcome to you as shareholders!
Net sales in the fourth quarter amounted to MSEK 68.9, corresponding to a growth of 20%, of which 19% is organic, compared to the same period last year. Recurring revenue, which is an important growth driver for us, increased by 21% during the fourth quarter compared to the same quarter last year. Adjusted EBITA amounted to MSEK 15.5, corresponding to a margin of 23 %, which is one percentage point stronger than the same quarter last year.
We have signed several new orders within our focus verticals during the fourth quarter: utility, real estate, wholesales and consulting. It is particularly gratifying that we have signed several orders within the real estate vertical, in Norway, including BBL, Vestbo, and Boligbyggelaget. These deals will have a positive impact on our Norwegian operations. Our utility vertical has also had a good quarter, including successfully winning deals with Lunet and Jönköping Energi through public tenders. It is pleasing to see that our efforts within the focus verticals are delivering results.
During the fourth quarter we have also focused on recruitments to our trainee program, which commenced on January 14, 2019. We successfully recruited 65 new stars in 2018, 20 of whom joined us in January 2019. As the recruitment climate gradually improved during the autumn, we recruited more co-workers, and earlier, than normal, which will have a negative cost impact, but will be positive for both growth and profitability in the long term.
We have made a commitment to become climate neutral, which is a given for us, as our overall objective is to be a company that creates value for society and is a source of pride to our stakeholders, such as employees, customers, and owners. We are currently assessing how this will be done in practical terms and will present an action and implementation plan during the first six months of 2019.
Having completed both an IPO and the fourth quarter, we are now fully focused on creating continuous long-term profitable growth.
Erik Syrén, CEO of Lime Technologies AB (publ)
Read the entire report in the attached PDF.
Invitation to webcast for the presentation of Lime Technologies Year-End Report 2018
On Wednesday, February 13, at 09.00 CET, are analysts, investors, media and other interested parties invited to attend a webcast where Lime’s CEO, Erik Syrén, and CFO, Magnus Hansson, will comment on the published report and answer questions. The presentation will be held in English.
Questions can only be asked in writing, via the webcast. The presentation material will be available on Lime’s website. The link to the webcast can be found here.
For more information, contact:
Lime Technologies AB (publ)
Erik Syrén, CEO / +46 707-38 50 72 / email@example.com
Magnus Hansson, CFO / +46 708-55 55 40 / firstname.lastname@example.org
Johan Holmqvist, Head of Investor Relations /+46 708-37 66 77 / email@example.com
This information constituted inside information prior to publication. This is information that Lime Technologies 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 persons set out above, at 17.31 CET on February 12, 2019.
Lime helps businesses all over the Nordics to become better at customer care. The company develops and sells digital products for ”Customer Relationship Management”, development and management of customer relationships. Lime was founded in 1990 and has 230 employees. The company has offices in Lund, Stockholm, Gothenburg, Oslo, Copenhagen and Helsinki. Their customers include everything from sole traders to large organisations. www.lime-technologies.com