Commercialsation is developing according to plan
- strong growth and continued
Growth is expected during the Second Quarter 2018
1 JANUARY – 31 MARCH 2018
- Net sales increased substantially and amounted to SEK 6.7 million (3.4)1
- Order backlog as per 31 March 2018 amounting to SEK 7.2 million
- EBITDA amounted to SEK -2.1 million (-4.7), corresponding to an EBITDA margin of -32.8 % (-137 %)
- Operating profit (EBIT) amounted to SEK -2.1 million (-4.7), corresponding to an operating margin of -32.8 % (-137
%) - Net loss for the period amounted to SEK -2.2 (-4.7)
- Earnings per share amounted to SEK -0.15 ( -0.33).
CEO COMMENTS
The commercialisation process is developing even better than our high expectations. And that is in spite of our strong efforts to prepare Ranplan for listing on Nasdaq First North in Stockholm in June 2018, a process we have been working on since late 2017.
During the first quarter 2018 we almost doubled our revenues compared to the corresponding period last year. And we expect strong revenues during the second quarter as our order backlog as per 31 March 2018 amounted to SEK 7.2 million.
The increase in revenues was mainly attributable to Europe and the US, but, as in 2017, sales were global. The increase in the USA was mainly due to Verizon suppliers. During the first quarter of 2018 our operating margin improved significantly compared to the same period last year, SEK -2.2 million compared to SEK – 4.7 million. Cash flow from operating activities however totalled SEK -4.8 million due to an increased tied up capital primarily in
operating receivables.
The approval from Verizon which we received in December 2017 has opened the US market for us. But that is not all; we have also entered into agreements with Huawei, the world’s largest supplier of technology equipment, and TEOCO, one of the largest suppliers of outdoor planning tools. We have already seen the effects in order backlog from the Huawei agreement and now we have high expectations regarding the effects from the agreement with TEOCO as well.
As mentioned above we are preparing Ranplan to be listed on Nasdaq First North. In connection with said listing we are raising sufficient capital to take Ranplan to positive cash flow in 2020.
Reference full report in the PDF download.
