Cint Group AB Q2 2023 Report

Second quarter 2023

• Net sales decreased by 7.4 percent to EUR 67.8m (73.2). Growth on a constant currency basis was -4.8 percent.
• Gross profit amounted to EUR 42.6m (46.2) with a gross margin of 62.9 percent (63.1).
• Adjusted EBITDA amounted to EUR 9.2m (13.0) with an adjusted EBITDA margin of 13.5 percent (17.7).
• EPS, before dilution amounted to EUR -0.02 (-0.01).
• Adjusted EPS, before dilution amounted to EUR 0.02 (0.04).

January - June 2023

• Net sales decreased by 9.1 percent to EUR 127.7m (140.5). Growth on a constant currency basis was –8.3 percent.
• Gross profit amounted to EUR 78.6m (87.4) with a gross margin of 61.6 percent (62.2).
• Adjusted EBITDA amounted to EUR 12.8m (21.1) with an adjusted EBITDA margin of 10.1 percent (15.0).
• EPS, before dilution amounted to EUR -0.06 (-0.04).
• Adjusted EPS, before dilution amounted to EUR 0.02 (0.05).

CEO Giles Palmer comments:
“Net sales in the second quarter 2023 decreased by 7.4 percent to EUR 67.8m (-4.8 percent in constant currency) compared to the same period last year. An uncertain macro environment and issues with reversals continued to hamper sales performance. We had weak Marketplace sales in the Americas region where lower demand has resulted in lower volumes and price pressure on completed surveys. On the other hand, we saw a stabilization in EMEA which is showing a year-over-year growth on a constant currency basis. Our Media Measurement business continues to grow strongly.

I have seen confidence levels inside the company increase significantly over the last quarter. This will, I believe, translate into improving performance over the coming quarters.”

Q2 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 3936 2999
Access code: 483 022

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