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Zutec today released Q2-21 report: Another Strong Quarter with Organic Sales Growth of 48.5% and EBITDA margin of 11.2%

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Financial Highlights

  • Net sales in Q2 were SEK 9.2m, corresponding to a 48.5% increase compared with the same period in 2019 (SEK 6.2m). Sales growth in Q2 based on constant currency was 54.0% compared with the same period in 2019.  Sales for the rolling twelve months period was SEK 33.0m.
  • EBITDA of SEK -1.7m (SEK -7.3m) corresponding to an EBITDA margin of -18.2% compared to -117.4% for the comparative period. EBITDA before FX-translation was SEK 1.0m (SEK -6.3m) which is a more accurate reflection of underlying earnings. 
  • Net loss was SEK 3.9m compared with the loss in the same period in Financial year 2020 (SEK -9.4m).
  • Basic earnings per share amounted to SEK -0.09  (-1.29).
  • Cash outflow from operating activities of SEK 2.6m primarily due to paying payroll taxes in Ireland for FY 2020 Q3 to FY 2020 Q1 as the company used the option of deferring payment due to COVID-19.

Operational Highlights

  • More than 50 new agreements were signed in FY 2021 Q2.
  • Signed a 4-year enterprise agreement of SEK 2.6m with Bandaranaike International Airport (BIA) and a 3-year framework agreement with Quintain Development Ireland Limited.
  • New customer wins with leading contractors and developers including, Roberts Pizzarotti, Taisei and ISG Interiors.
  • Continued expansion of our sales team with three new hires joining during the quarter focused exclusively on new customer sales.
  • Reached agreement to acquire the last 10% of Zutec (Australia) Pty Ltd to increase ownership to 100%.
  • New value-add product features launched in our Field app.
  • Pilot project under way for our Sustainability offering.

Significant Events after the PeriodNo significant events since the period end

 

The interim report for 1 October to 31 December 2020 is attached as a PDF file.

For more information, please contact:

Gustave Geisendorf, CEO at Zutec, gustave.geisendorf@zutec.com, +353 1 201 3565

About Zutec

Zutec is a provider of cloud-based construction management software with operations in Dublin, London, Melbourne and the Middle East.

Zutec Holding AB (publ) is listed on Nasdaq First North Growth Market and Mangold Fondkommission AB is the Company’s acting Certified (Tel. + 46 8 5030 1550, CA@mangold.se, www.mangold.se).

This information is inside 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, January 22nd, 2021.

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