JLT Mobile Computers AB: JLT Interim report January – march 2017

  • Order intake SEK 26.0 million (41,9)
  • Sales 27,7 MILLION (24,5)
  • Gross margin 44.7% (45,7)
  • Operating profit SEK 2.6 million (2.4 million)
  • Profit after tax of 1.9 MILLION (1.6)

Comments from the CEO

An important part of JLT’s growth strategy is to expand our market presence, cultivate new and existing customers and business opportunities. Therefore, we have now launched our most ambitious marketing strategy so far. During the month of march attended the JLT at three major trade fairs. We showed JLT’s leading products at the SITL in Paris, an international transport and logistikmässa, and the NAVIS World in San Francisco, a forum, where logistics and IT managers at leading port operators from around the world gather. We were represented by our German säljpartner at the LogiMat in Stuttgart, one of Europe’s largest trade fairs for intralogistik, and process control. During the month of april, put the JLT at ProMat in Chicago, which is AMERICA’s largest logistics and transportmässa. We also continue to expand globally by connecting additional partners to the international car dealer network. We signed agreements with five new partners during the period, which was announced in april.

Our sales comprise in addition to the ongoing sale also of a smaller number of larger delivery orders. It makes, order naturally varies from quarter to quarter. Order intake for the first quarter of the prior year consisted of, in addition to the ongoing order intake of the three major shops with delivery throughout 2016, which affects the comparison with the order intake for the first quarter of this year. A lower closing order backlog for the quarter, 11 MILLION (28) affecting deliveries and sales during the second quarter in comparison with the previous year.

By strengthening our market presence and to develop the organization, we continue to create good conditions for a long-term growth.

Per Holmberg, CEO

The group’s turnover and results for the period January to march 2017

For the period, the group recorded a turnover of 27.7 MILLION (24,5). The gross profit amounted to SEK 12.4 million (11.2) and gross margin to 44.7% (45,7).

Operating expenses was 9.5 MILLION (8.5) of this said, the personnel costs of SEK 6.4 m (5,7). Other costs were MSEK 3.1 (2,8). EBITDA for the period amounted to sek 2.9 MILLION (2.7).

Depreciation during the period was SEK 0.3 m (0,3).

The group’s operating profit amounted to SEK 2.6 million (2.4 million).

Net financial items amounted to MSEK 0.1 (-0,4) which gave a profit before tax of eur 2.5 MILLION (2.0).

Tax at the standard rate for the group amounting to sek 0.6 M (0.4) are charged to profit and loss after tax amounted to sek 1.9 MILLION (1.6).

Orders received during the period amounted to SEK 26.0 million (41,9) and the order backlog was at the end of the period to 10.9 MILLION (28.2).

Financial position and cash flow

Cash flow amounted to SEK 0.4 m (-3,4) the group’s liquid funds amounted at yearend to SEK 28.4 million (eur 14.2) and the group’s net debt to -28,4 MILLION (‘s-14.2), thus a net cash position.

The equity / assets ratio amounted to 67 per cent (65) and the equity was 45,7 M (35,0).

No interest-bearing liabilities exist.

The parent company

The parent company performs services for the subsidiary and debits of these on. Operating profit amounted to

-0,3 MILLION (-0,1).

The group’s tax situation

The remaining loss carry-forwards at year-end amounted to SEK 7.8 million to be utilised against future profits, of which MSEK 2.1 in the Swedish companies. 0.6 MILLION is tillgångsfört as deferred tax assets.

Accounting principles

The interim report has been prepared in accordance with BFNAR 2007:1, Voluntary interim reporting. Fr.o.m. 2014 applying the JLT annual accounts act and the Swedish accounting standards board’s supplementary regulations K3, Annual report and the consolidated financial statements.

This report has not been subject to review by the company’s auditor.

Share

A total of 8.1 million shares (4,1) traded during the period, which corresponds to 29% of the total number of shares.

The share was listed in 4,92 $ at beginning of the period and SEK 6.30 at the end of the period.

JLT-share is listed on Nasdaq First North with Remium as Certified Adviser.

Reporting dates for the years 2017

Interim report for January-June 2017 August 11, 2017

Interim report for January-september 2017 October 20, 2017

Year-end report for the year 2017 February 9, 2018

Växjö, 11 may 2017

On the board: Per Holmberg, executive director

For further information:

Per Holmberg CEO 0470 – 53 03 00

Stefan Käck vice president / CFO 0470 – 53 03 21

www.jltmobile.com

The consolidated accounts*

 

Income statement, SEK m

 

 

2017

Kv 1

2016

Kv 1

 

2017

Kv 1

2016

Kv 1

 

2016

Full year

 

 

 

 

 

 

 

 

 

 

 

 

Total operating revenues

-64,5

24,5

 

27,7

24,5

 

126,9

 

 

 

 

 

 

 

 

 

 

 

 

Operating expenses

 

 

 

 

 

 

 

 

Merchandise

 

 

38,3

12.8 million

 

-15,3

-13,3

 

-72,1

 

Other external costs

 

 

6,4

– 2.2 b

 

-3,1

– 2.8 m

 

-13,7

 

Personnel costs

 

 

13,3

-5,0

 

-6,4

-5,7

 

-27,0

 

Depreciation

 

 

0,6

-0,4

 

-0,3

-0,3

 

-1,1

 

Share of results of associates

 

 

 

 

 

 

 

Operating profit

To-6.0

0,9

 

2,6

The 2.4

 

13.1 the

 

 

 

 

 

 

 

 

 

 

 

 

Net financial items

 

 

 

0,0

-0,4

 

-0,1

-0,4

 

0,0

Profit after financial items

To-6.0

0,5

 

2,5

The 2.0

 

13.1 the

 

 

 

 

 

 

 

 

 

 

 

 

Tax

 

 

 

1,0

-0,3

 

-0,6

-0,4

 

-2,3

The end result

 

 

-5,0

0,2

 

1,9

1,6

 

10,8

 

 

 

 

 

 

 

 

 

 

 

 

Earnings per share (sek)

 

 

-0,18

0,01

 

0,07

0,06

 

0,39

Earnings per share after full dilution (sek)

-0,17

0,01

 

0,06

0,06

 

0,38

 

 

 

 

 

 

 

 

 

 

 

 

Balance sheet, SEK m

 

 

 

 

 

2017

31 mar

2016

31 mar

 

2016

31 dec

 

 

 

 

 

 

 

 

 

 

 

 

Assets

 

 

 

 

 

 

 

 

 

 

 

Intangible assets

 

 

 

5.2 the

3,4

 

4,6

 

Tangible fixed assets

 

 

 

 

0,9

1,3

 

1,0

 

Financial assets

 

 

 

0,6

2,9

 

0,8

Total non-current assets

 

6,7

7,7

 

6,5

 

Inventories

 

 

 

 

 

 

20,0

12,7

 

16,3

 

Short-term receivables

 

 

 

 

 

13,5

19.6 the

 

24,4

 

Cash and cash equivalents

 

 

 

 

 

28,4

14,2

 

28,0

Total current assets

 

61,8

46,5

 

68,6

 

 

 

 

 

 

 

 

 

 

 

 

Total assets

 

 

 

 

 

68,5

54,2

 

75,1

 

 

 

 

 

 

 

 

 

 

 

 

Shareholders ‘ equity, provisions and liabilities

 

 

 

 

 

 

 

 

The share capital of the

 

 

 

 

 

 

27,9

27,0

 

27,9

 

Statutory reserve

 

 

 

 

 

 

4.2 the

1,3

 

4.2 the

 

Other results

 

 

 

 

 

13.6 the

6,8

 

11,6

Total shareholders ‘ equity

 

 

 

 

 

45,7

35,0

 

43,7

Provisions

 

 

 

 

 

 

1,6

1,6

 

1,6

Long-term liabilities

 

 

 

 

 

 

Current liabilities

 

 

 

 

 

21,1

17,5

 

29,8

 

 

 

 

 

 

 

 

 

 

 

 

Total shareholders ‘ equity, provisions and liabilities

 

68,5

54,2

 

75,1

 

 

 

 

 

 

 

 

 

 

 

 

* Mathematical rounding

 

 

 

 

 

 

 

 

 

Cash flow statement, SEK m

 

 

2017

Kv 1

2016

Kv 1

 

2016

Full year

 

 

 

 

 

 

 

 

 

 

 

 

Cash flow from operating activities before change in working capital

 

The 2.2

The 2.4

 

11,8

Change in working capital

 

-1,0

-4,9

 

-1,0

Operations

 

 

 

0,0

 

1,2

2.5 to

 

10,8

Investing activities

 

 

 

-0,5

 

-0,8

-0,9

 

-0,2

Financing activities

 

 

 

0,0

 

0,0

0,0

 

-0,2

The year cash and

 

 

 

-0,5

 

0,4

-3,4

 

10,4

Cash and cash equivalents

 

 

 

 

27,4

 

28,4

14,2

 

28,0

Net debt*

 

 

 

 

 

 

-28,4

‘s-14.2

 

-28,0

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

The change in equity (SEK m)

 

2017

Kv 1

2016

Kv 1

 

2016

Full year

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Equity

 

43,7

33.3 the

 

33.3 the

 

 

 

 

 

 

 

 

 

 

 

 

The end result

 

 

 

 

 

1,9

1,6

 

10,8

Translation

 

 

 

 

 

0,1

 

-0,2

New issue

 

 

 

 

 

 

 

1,7

Dividend

 

 

 

 

 

 

 

-1,9

Amount at the end of the period

 

45,7

35,0

 

43,7

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Key performance indicators

 

 

 

 

 

 

2017

Kv 1

2016

Kv 1

 

2016

Full year

 

 

 

 

 

 

 

 

 

 

 

 

EBITDA margin

 

 

%

 

 

 

10,5

10,9

 

11,2

Operating margin

 

 

%

 

 

 

9.4 the

9,7

 

10,3

Profit margin

 

 

%

 

 

8,9

8,2

 

10,3

 

 

 

 

 

 

 

 

 

 

 

 

Capital employed

 

 

M

 

 

45,7

35,0

 

43,7

Return on capital employed

 

%

 

 

 

24

23

 

34

Equity

 

 

M

 

 

45,7

35,0

 

43,7

Return on equity

 

%

 

 

19

19

 

28

Net debt *

 

 

M

 

 

-28,4

‘s-14.2

 

-28,0

Debt / equity ratio

 

times

 

 

0

0

 

0

Equity / assets ratio

 

 

%

 

 

67

65

 

58

 

 

 

 

 

 

 

 

 

 

 

 

Earnings per share

 

crowns

 

 

0,07

0,06

 

0,39

Shareholders ‘ equity per share

 

crowns

 

 

1,64

1,30

 

1,57

Net debt per share*

 

crowns

 

 

-1,02

-0,53

 

-1,00

 

 

 

 

 

 

 

 

 

 

 

 

The share’s last price in the period

crowns

 

 

6,30

2,67

 

4,86

Number of outstanding shares

 

.000 st

 

 

27 902

26 952

 

27 902

Number of outstanding shares after full dilution

.000 st

 

 

28 902

28 952

 

28 902

 

 

 

 

 

 

 

 

 

 

 

 

* Negative value = net cash

 

 

 

 

 

 

 

 

 

Interim report Q1 2017 JLT Mobile Computers

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