An eventful year with yet another strong quarter

Financial highlights October – December 2021                                                                                            

• Net sales increased by 41.6 percent to EUR 44.8m (31.6). Organic growth excluding currency effects was 27.6 percent 
• Gross profit amounted to EUR 22.7m (16.4) with a gross margin of 50.8 percent (52.1)
• Adjusted EBITDA amounted to EUR 8.5m (5.5) with an adjusted EBITDA margin of 19.0 percent (17.5). Adjusted EBITDA, excluding the FX effect from the revaluation of operating balance sheet items, amounted to EUR 7.9m (5.9) and the margin 17.6 percent (18.7)
• EPS, before and after dilution amounted to EUR -0.07 (-0.13)
• Adjusted EPS, before and after dilution amounted to EUR 0.02 (0.11)

Financial highlights January – December 2021

• Net sales increased by 41.4 percent to EUR 138.9m (98.3). Organic growth excluding currency effects was 36.2 percent
• Gross profit amounted to EUR 71.2m (51.0) with a gross margin of 51.2 percent (51.9)
• Adjusted EBITDA amounted to EUR 25.8m (16.3) with an adjusted EBITDA margin of 18.6 percent (16.6). Adjusted EBITDA, excluding the FX effect from the revaluation of operating balance sheet items, amounted to EUR 24.6m (16.9) and the margin 17.7 percent (17.2)
• EPS, before and after dilution amounted to EUR -0.04 (-0.45)
• Adjusted EPS, before dilution amounted to EUR 0.12 (0.27) and after dilution to EUR 0.11 (0.27)
• The board of directors will propose to the AGM 2022 that no dividend shall be paid to shareholders

 Significant events during and after the fourth quarter                                                                                

• On 27 October 2021, Cint announced the acquisition of Lucid Holdings, LLC for a consideration of USD 1,070m on a cash and debt free basis. The acquisition was completed on 29 December 2021
• As a result of the acquisition, the financial targets were updated. In the medium term, the target is to deliver organic sales growth of at least 25 percent and an EBITDA margin of at least 25 percent
• On 19 January 2022, Cint announced changes to the executive committee with the additions of Andy Ellis (COO), Rick Pittenger (CTO) and Felicia Winberg (General Counsel)
• On 1 February 2022, Cint held an extraordinary general meeting which elected Patrick Comer as new chair of the board of directors and Carl Sparks as new member of the board of directors

CEO Tom Buehlmann:
Cint has delivered strong business results in an eventful year. The strong growth momentum continued in the final quarter of the year with net sales increasing by nearly 42 percent to EUR 44.8m compared to 31.6m in the same quarter last year. Organic growth (excluding currency effects) was 27.6 percent.

Net sales for the full year grew by 41.4 percent (36.2 percent organic growth excluding currency effects) and it is a great achievement that during the year Cint processed 100 million surveys globally.

EBITDA, adjusted for items affecting comparability, amounted to EUR 8.5m (5.5) in the quarter corresponding to a margin of 19.0 (17.5) percent. For the full year, profitability improved by 2 percentage points to 18.6 percent.

After a strong first year and the successful acquisitions of GapFish and Lucid, we have strengthened our position on the market significantly. Our expectations on our future deliveries have increased accordingly and we have therefore adopted new financial targets whereby Cint is to reach, and then maintain, annual organic sales growth of at least 25 percent in the medium term while delivering at least 25 percent EBITDA margin.

For more information, please contact:

Joakim Andersson, CFO
Tel: +46 760 448 330
Email: [email protected]

Patrik Linzenbold, Head of IR
Tel: +46 708 252 630
Email: [email protected]

This disclosure contains information that Cint Group 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 persons set out above, at 08:00 CET on 22 February 2022.