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Interim report January-September 2015

Lund, 2015-11-04 07:30 CET (GLOBE NEWSWIRE) --  

 

High sales growth continues with strengthened order book

July – September 2015
• Net sales amounted to SEK 446.5m (332.0), an increase of 34.5 percent.
• Net sales growth, excluding Caretech, was 21.6 percent.
• Operating profit (EBIT) was SEK 29.7m (29.0), corresponding to an operating margin of 6.7 percent (8.7).
• Order intake amounted to SEK 566.3m (423.7), an increase of 33.7 per cent.
• Order book at the end of the period amounted to SEK 294.2m (157.2), an increase of 87.2 percent.
• Profit after tax for the period amounted to SEK 22.0m (24.4).
• Earnings per share after tax amounted to SEK 0.95 (1.15).
• Cash flow from current activities amounted to SEK 32.9m (14.1).

CEO comment
It is a pleasure to once again report on our continued strong sales growth trend. This quarter, sales grew by 34.5 percent and amounted to SEK 446.5m. Adjusted for Caretech sales growth was 21.6 percent. Our sales growth proves the strength in our position as the global niche leader in easy- to-use mobile and digital care solutions serving the elderly target group.

Sales grew well in the quarter, despite negative seasonality effects in Caretech and a temporary decline in USA and Canada. Our growing order book bodes well for the coming quarters.

The gross margin as well as the EBIT margin remained sequentially stable at 36.6 percent (36.6) and 6.7 percent (6.9) respectively, even if seasonality effects related to Caretech had a negative impact on the group’s EBIT-margin and on the results in the Nordic region specifically.

We are currently preparing the commercial launch of our 4G smartphone – which was announced at the IFA show in Berlin in September – in the European market during the fourth quarter and in the US market during the first quarter 2016. The first deliveries were made at the end of October and will contribute to sales in the fourth quarter, but the launch has already contributed to our order book, which increased by 87.2 percent in the third quarter compared to the same period last year.

Our Caretech acquisition continues to develop well and we are now focusing on expanding our position outside Sweden as well as extending our service offering to increase the number of subscribers and share of recurring revenues. Our ambition is to introduce similar consumer offerings in the UK market that we have launched in partnership with BT and Lloyds Pharmacy already. 

With the solid order book, we are confident about the full year outlook. 

Jérôme Arnaud, President & CEO

For more information, please contact:
President and CEO Jérôme Arnaud, +46 (0)46 280 50 05

Doro’s report to be presented via audiocast
Analysts, investors and the media are welcome to attend a presentation via http://edge.media-server.com/m/p/4k9bqm96 or by telephone at 9.00 CET on November 4, 2015. Doro’s President and CEO Jérôme Arnaud will hold the presentation and answer questions. Before the start of the presentation, the material will be made available on http://corporate.doro.com/investors/financial-reports/financial-reports.

Call-in details
Sweden:   + 46 (0)8 505 564 74
France toll free:  080 5980 144
United Kingdom: +44 (0)20336 453 74
United States: + 1 855 7532 230

 

About Doro
Doro develop telecom products and services for Seniors to lead full and rich lives: to do things they want to do more easily as well as the things they thought they might never do.. The company holds numerous international awards in recognition of its product designs and innovations and is today global market leader in its category, telecom for seniors. Doro is a Swedish public company and its  shares are quoted on the Nasdaq OMX Stockholm exchange, Nordic List, Small Companies. Net sales of SEK 1,277 million (EUR 135 million) were reported for 2014. www.doro.com

This is information that Doro AB (publ) is required to publish in accordance with the Swedish Securities Markets Act and/or the Swedish” Financial Trading Act. This information was submitted for publication on 4 November, 2015 at 07:30 CET.

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Doro AB
Magistratsvägen 10
226 43 Lund
Sweden
Phone 0046 46 280 50 00

Corporate identification number
556161-9429

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