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Interim report first quarter 2024

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First Quarter (Jan–March 2024)

  • Net sales amounted to TSEK 159,001 (121,296), which is an increase of 31.1 % compared to the same period last year.
  • The gross margin amounted to 51.9 % (56.4).
  • Operating profit before depreciation (EBITDA) amounted to TSEK 45,722 (28,459), which corresponds to an operating margin before depreciation of 28.8 % (23.5).
  • Operating profit (EBIT) amounted to TSEK 29,524 (16,100), which corresponds to an operating margin of 18.6 % (13.3).
  • Earnings per share before dilution amounted to SEK 2.03 (1.16).
    (Comparative figures in parentheses refer to the corresponding period in the previous year.)

Comments from the CEO
A very strong start

 

We begin the year with a very strong first quarter, continuing in the same way as we saw during the fourth quarter of 2023. We are seeing an organic revenue growth of over 30 %, compared to the same period last year. Stockpiling at wholesalers was somewhat higher than usual for the period, which is driven by the increasing growth in installations. We particularly see how the growth rate in Sweden is beginning to pick up again, but also the international markets, with Norway in the lead, are increasing strongly.

 

We can also clearly see how our work to keep the cost mass relatively flat provides leverage on profitability now that revenue is beginning to increase. This despite a lower gross margin due to the new product categories. We expect continued leverage in profitability over the next few years by continuing to maintain an optimized cost mass relative to a strong revenue growth.

 

We are now looking forward to an exciting 2024, when in the upcoming quarters we have several product launches to look forward to. JAL-01 is our first product in the new category smart window coverings. It’s a puck for controlling e.g. blinds and awning. A product with great potential in Europe.

 

We look forward to 2024 being the year when we begin to see the benefits of our multidimensional growth strategy. With a successful launch of smart luminaires behind us and two exciting new categories with window coverings and heating control ahead of us. I thank the team for a very good job.

 

Babak Esfahani

CEO

 

For further information

Phone: +46 (0) 10 207 89 01

E-mail: investor@plejd.com

About the company

Plejd is a leading Nordic supplier of smart lighting controls. By focusing on the user experience, smart lighting controls are made easy and available to everyone.

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