Intellego increases sales and operating profits – increases long-term financial goals

Technology company Intellego reported both revenue and operating profit increases in the third quarter compared to the same period last year. Operating profit increased.

Sales increased to SEK 74.4 million (43.4).

Operating profit amounted to SEK 21.6 million (15.6), with an operating margin of 29.0 percent (35.9).

Profit before taxes was SEK 17.0 million (13.4).

Profit after tax was SEK 12.3 million (12.3) and per share was SEK 0.46 million (0.47).

Cash flow from operating activities amounted to -5.0 million SEK (5.8).

Cash and cash equivalents amounted to SEK 4.7 million (42.5).

“Third quarter sales were in line with expectations, but EBIT was lower than we had hoped, due to SEK 5 million in increased external costs, the Nasdaq penalty of SEK 2.2 million and the write-off of capital goods in amount of almost SEK 5 million,” comments CEO Claes Lindahl.

An increase in earnings is expected in the future.

“The EBIT level and gross margin are expected to increase compared to these values ​​in the third quarter, as e.g. “For example, dosimeter sales follow equipment sales and we have several large dosimeter projects starting towards the end of the year,” says Lindahl.

According to Lindahl, the company is on track to achieve its full-year target of sales of SEK 300 million and EBIT (operating profit) of just over SEK 110 million.

With the launch of several projects, a significant increase in sales is expected next year. With this in mind, Intellego is updating its long-term financial targets to SEK 2 billion in revenue and SEK 600 million in Ebit over the next 3 to 5 years, an increase of 100 percent compared to the company’s last long-term financial targets.