YEAR- END REPORT 2014
All time high in result and revenue
Net sales increased by 40% during the fourth quarter and was 18,9 MSEK (13,5)
Result before depreciation (EBITDA) was 2,0 MSEK (0,2), corresponding to a margin of 10,4% (1,7)
Net result was 1,4 MSEK (0,1)
Result per share was 0,01 (0,00)
January - December
Net sales increased during the period by 25% to 62,5 MSEK (50,2)
Result before depreciation (EBITDA) increased by 155% to 7,1 MSEK (2,8), which corresponds to a margin of 11,3% (5,5)
Net result was 5,2 MSEK (1,8)
Result per share was 0,05 (0,02)
Cash flow from the business for the period January to December was7,9 MSEK (-1,2)
No dividend is proposed
|Försäljning och resultat|
|TSEK||Fourth quarter||Full year|
|Sales||18 895||13 506||40%||62 505||50 196||25%|
|Operating income (EBITDA)||1 973||234||743%||7 084||2 776||155%|
|Operating margin (EBITDA)||10,4%||1,7%||11,3%||5,5%|
|Income before tax||1 858||135||1276%||6 740||2 380||183%|
|Operating cash flow||5 286||552||858%||7 917||-1 209||-755%|
|Earnings per share||0,01||0||0,05||0,02|
Comments by the CEO
Our sales during the fourth quarter have had a continued good growth and we show a record turnover for a single quarter. Our Rail business has been satisfactory during the period with an even flow of serial deliveries to several customers. New projects are discussed and our focus is to work more and tighter with our already established big partners, with whom we want to expand our business and become a more important business partner for them. We make the judgment that we will see some more new projects coming during 2015. We have after analyzing the business made the judgment that our product offering is most successful in certain specific applications and we will therefore “drill deeper” in these applications and spend less time on the requests regarding our less efficient offerings. Being a small company it is extremely important that we focus on the right things and especially within Rail Solutions where the projects are complex, project specific and always demanding major resources.
Our Traffic business has continued to develop well in the US market, while it has also continued to be weaker in the Chinese market. In the EMEA region the sales has been according to plan, but we intend to increase our efforts there during 2015 supported by our newly launched UHF products and which we judge will have a positive impact on sales and margin during the years to come. In the Nordic market, with which we are not satisfied, we increase our presence and we already see that our new UHF reader finds a great interest among established as well as new partners. We generally need to grow our customer base in all our regions within Traffic solutions to be able to grow in the pace we want to.
The innovation work will continue with increasing speed and we plan to launch more products in our new UHF family during the spring. In focus for our product innovation we have the customer’s need for security and safety, reliability, functionality, design and life cycle cost. Our judgment is that that further launches is a must and that we thereby will increase our addressable market and this is a fundamental requisite for increasing our growth. To support our long term growth plans we continue to recruit new employees in especially technical development.
Our result of 2,0 MSEK (0,2), is a strong improvement compared to previous years and our full year result of 7,1 MSEK is the strongest result in the company’s history. Altogether we are happy with record revenue and a record result, but we want to achieve more ahead. Our cash flow has developed well during the quarter and also for the year which can also be seen in our significantly better balance sheet.
Our new UHF products and our focused work in Rail Solutions will contribute with the major part of our growth the next few years to come, but we also see selective acquisitions as a way to complement our product portfolio with the purpose to increase the value and the attraction of our customer offering.
For further information, please contact:
Jonas Svensson, CEO, +46 8-6321950, firstname.lastname@example.org
TagMaster is an application driven technology company that designs and markets advanced radio frequency identification (RFID) products and systems for demanding environments. Business areas include Traffic Solutions and Rail Solutions providing innovative applications in order to increase efficiency, security, convenience and to decrease environmental impact. TagMaster has dedicated agencies in the US and in China and exports mainly to Europe, Middle East, Asia and North America via a global network of partners, systems integrators and distributors. TagMaster was founded in 1994 and has its headquarters in Stockholm. TagMaster is a public company and its shares are traded on First North stock exchange in Stockholm, Sweden. For more information about TagMaster, please visit www.tagmaster.com