Cint's interim report third quarter 2023: Weak demand impacting quarterly revenue; continued progress on platform unification

Third quarter 2023

• Net sales decreased by 10.4 percent to EUR 66.6m (74.3). Growth on a constant currency basis was -4.9 percent.
• Gross profit amounted to EUR 41.4m (47.1) with a gross margin of 62.2 percent (63.4).
• EBITDA amounted to EUR 8.6m (8.2) with an EBITDA margin of 12.9 percent (11.1).
• Adjusted EBITDA amounted to EUR 12.0m (14.1) with an adjusted EBITDA margin of 18.1 percent (19.0).
• EPS, before dilution amounted to EUR -0.09 (-0.01).
• Adjusted EPS, before dilution amounted to EUR 0.02 (0.04).

January - September 2023

• Net sales decreased by 9.6 percent to EUR 194.2m (214.8). Growth on a constant currency basis was -7.2 percent.
• Gross profit amounted to EUR 120.0m (134.6) with a gross margin of 61.8 percent (62.6).
• EBITDA amounted to EUR 14.5m (19.3) with an EBITDA margin of 7.4 percent (9.0).
• Adjusted EBITDA amounted to EUR 24.9m (35.2) with an adjusted EBITDA margin of 12.8 percent (16.4).
• EPS, before dilution amounted to EUR -0.15 (-0.06).
• Adjusted EPS, before dilution amounted to EUR 0.04 (0.09).

CEO Giles Palmer comments:
Net sales decreased by 10.4 percent in the third quarter to EUR 66.6m (-4.9 percent in constant currency) compared to the same period last year. Marketplace sales were weak in both Americas and EMEA. The key factors impacting our performance are decreased demand from certain core customers and overarching economic conditions. This is why we are investing to create a unified platform with the most choice, best quality and cutting-edge user experience in the industry to serve customers of all sizes as efficiently as possible.
Whilst we are experiencing a decline in certain parts of our core business, we are seeing strong growth in Media Measurement. We are increasing investment into this area to help our customers.

The gross margin was 62.2 percent and the EBITDA margin adjusted for items affecting comparability was 18.1 percent (19.0) where we have held operational expenses, mainly personnel costs and other external expenses, steady during the year.

Q3 presentation today at 10.00 a.m. CEST
The report will be presented by Giles Palmer, CEO and Olivier Lefranc, CFO at 10.00 a.m. CEST today via a webcast conference call. Follow the webcasted presentation and conference call live at: webcast

For participation in the telephone conference, please make sure you are connected to the conference call by calling in and registering a few minutes before the conference begins.

Sweden: +46 10 884 80 16
International: +44 20 4587 0498
Access code: 131 064

The presentation material and a recorded version of the conference will be available at Cint™ Investors.

For more information please contact:
Patrik Linzenbold, Head of IR
Tel: +46 708 25 26 30
Email: [email protected]

About Cint
Cint is a pioneer in research technology. Our customers use Cint to post questions and get answers from real people. They use these answers to build business strategies, confidently publish research, accurately measure the impact of digital advertising, and more. Our exchange is the world’s largest, with nearly 300 million respondents in over 130 countries who consent to sharing their opinions, motivations, and behaviors. We are feeding the world’s curiosity.

Cint Group AB (publ), listed on Nasdaq Stockholm (STO: CINT), has a global workforce of approximately 1000. Cint has offices in Stockholm, London, New York, New Orleans, Singapore, Gurgaon, Japan, and Sydney, among others. 

This information is information that Cint Group is obliged to make public pursuant to the EU Market Abuse Regulation. The information was submitted for publication, through the agency of the contact persons set out above, at 2023-10-25 08:00 CEST.