Year-end report 2023

Fourth Quarter (Oct–Dec 2023)

Net sales amounted to TSEK 161,868 (127,545), which is an increase of 26.9 % compared to the same period last year.

The gross margin amounted to 51.9 % (58.3).

Operating profit before depreciation (EBITDA) amounted to TSEK 44,520 (35,510), which corresponds to an operating margin before depreciation of 27.5 % (27.8).

Operating profit (EBIT) amounted to TSEK 29,325 (24,369), which corresponds to an operating margin of 18.1 % (19.1).

Earnings per share before dilution amounted to SEK 2.01 (1.76).
(Comparative figures in parentheses refer to the corresponding period in the previous year.)

Jan-Dec

Net sales amounted to TSEK 513,387 (430,823), which is an increase of 19.2 % compared to the same period last year.

The gross margin amounted to 54.4 % (58.7).

Operating profit before depreciation (EBITDA) amounted to TSEK 115,032 (118,558), which corresponds to an operating margin before depreciation of 22.4 % (27.5).

Operating profit (EBIT) amounted to TSEK 59,520 (79,407), which corresponds to an operating margin of 11.6 % (18.4).

Earnings per share before dilution amounted to SEK 4.11 (5.79)
(Comparative figures in parentheses refer to the corresponding period in the previous year.)

Comments from the CEO

A strong quarter

We ended the year strongly which is reflected in both new product categories and new geographic markets, which together are the two foremost aspects of our multidimensional strategy. During the year’s second half, we delivered over 150,000 downlights, which shows a strong demand. This achievement establishes the groundwork for a new product category with smart luminaires where we plan to continue our innovation with even more exciting products during 2024.

In our international growth strategy, we especially note that the market in Norway continues to follow the same successful path as in Sweden. We see a strong growth in the Netherlands and have increased presence in countries such as Spain, Germany, and Switzerland. Here, we have built up wholesale relations and sales teams ahead of the launch of the shutter controller JAL-01, planned for the second quarter of 2024. It is our ambition that JAL-01 will make these markets to accelerate.

Throughout 2023, we have put a lot of energy into optimize our cost structure and increasing cost awareness within the company. The key to our profitability strategy is to increase revenues while keeping our costs at a relatively stable level. By balancing these two factors, we look forward to creating sustainable and long-term profitability.

We see also this quarter a lower gross margin, mainly due to the new product category with smart luminaires. As we will launch more new product categories in the coming years and more products within these new categories, it is reasonable to assume a lower gross margin in the short term. The year 2023 has been an important year where we have positioned ourselves for a new growth phase, driven by both new product categories and new markets.

We look forward to the coming years with great enthusiasm and are convinced that our strategy will lead to strong growth and increased profitability. I want to thank the team for a fantastic 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.