Cint Group AB Q3 2021 report

Press release

Yet another strong quarter

Financial highlights July - September 2021

• Net sales increased by 44.6 percent to EUR 34.3m (23.7). Organic growth excluding currency effects was 34.0 percent

• Gross profit amounted to EUR 17.5m (12.0) with a gross margin of 50.9 percent (50.7)
• Adjusted EBITDA amounted to EUR 6.6m (3.8) with an adjusted EBITDA margin of 19.4 percent (16.2). Adjusted EBITDA, excluding the FX effect from the revaluation of operating balance sheet items, amounted to EUR 5.9m (4.2) and the margin 17.2% (17.8)
• Adjusted earnings per share, before and after dilution amounted to EUR 0.03 (0.01)
• Earnings per share, before and after dilution amounted to EUR 0.03 (-1.20)

Financial highlights January - September 2021

• Net sales increased by 41.2 percent to EUR 94.2m (66.7). Organic growth excluding currency effects was 40.5 percent
• Gross profit amounted to EUR 48.4m (34.5) with a gross margin of 51.4 percent (51.8)
• Adjusted EBITDA amounted to EUR 17.3m (10.7) with an adjusted EBITDA margin of 18.4 percent (16.1). Adjusted EBITDA, excluding the FX effect from the revaluation of operating balance sheet items, amounted to EUR 16.7m (11.0) and the margin 17.8% (16.5)
• Adjusted earnings per share, before and after dilution amounted to EUR 0.09 (0.04)
• Earnings per share, before and after dilution amounted to EUR 0.04 (-3.17)

Significant events during the third quarter

• No significant events occurred during the third quarter

CEO Tom Buehlmann:
It has been another successful quarter for the company with strong growth momentum. Net sales in the third quarter 2021 increased by 44.6 percent to EUR 34.3m compared to EUR 23.7m in the same period last year. Organic growth (excluding currency effects) was 34.0 percent driven mainly by our tech-enabled customers and the EMEA region.

EBITDA, adjusted for items affecting comparability, amounted to EUR 6.6m (3.8) in the quarter corresponding to a margin of 19.4 (16.2) percent. We have increased profitability considerably during the last twelve months, mainly due to positive scale effects on higher volumes. 

We have had a successful first nine-months of 2021 and expect to deliver a strong full year 2021, substantially exceeding our annual target of 20 percent organic growth.  During our IPO roadshow, we talked about the importance of exceeding expectations, and we will most certainly deliver on that in 2021. Looking beyond Q4, I am encouraged by the strong trading momentum that we see continuing into 2022.

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 25 October 2021.