Interim report January-September 2012Solid quarter confirms Doro's profitable growthLund, 2012-11-08 07:30 CET --
Significant events in the third quarter of 2012:
• Net sales amounted to SEK 210.8 m (181.9), an increase of 15.9 percent.
• Operating profit (EBIT) amounted to SEK 16.2 m (15.6), an increase of 3.8 percent.
The operating margin was 7.7 percent (8.6).
• Profit after tax for the period amounted to SEK 25.7 m (25.7).
• Earnings per share after tax amounted to SEK 1.33 (1.34).
• Cash flow from current operations amounted to SEK 13.1 m (51.0).
• Order intake amounted to SEK 241.8 m (240.8), an increase of 0.4 percent.
• New outlook full year 2012: sales growth of 10-15 percent and operating profit (EBIT)
in line with 2011.
CEO Jérôme Arnaud: Solid quarter confirms Doro’s profitable growth
” I am pleased to report our third quarter figures that emphasize our path of stable and profitable growth. Sales increased by 15.9 percent in the third quarter and by 17.0 percent adjusted for currency effects, compared with the corresponding quarter last year. We see good sales trends in all our markets as we again have growth in Canada and our first steps to counter
low-end competition in Germany have been successful. The rolling twelve-month accumulated growth rate is currently at 12.7 percent and, at the end of the quarter, our order book was 15.8 percent higher than a year ago. In addition, Octobers order intake was extraordinary high.
Our aim to keep fixed operational costs constant despite higher volumes has been successful. The EBITDA margin for the quarter amounted to 10.2 percent and confirms the solid profit trend.
We have continued to ramp-up our investments in product development, resulting in an even more competitive product mix, including a renewed range of 3G feature phones for
seniors – a product line which is unique in the market. In addition, our smartphone adapted for seniors is due for launch at the end of November in the Nordics. At the end of October, we were also very pleased to announce our new brand ambassador for the Nordic region – popular Swedish artist and personality Barbro "Lill-Babs" Svensson. We have a full Christmas media plan in place featuring Lill-Babs.
Several strategic product launches based on our high value platform are now due in the fourth quarter and continuing in the first quarter 2013 – with a gradual rollout on all Doro’s markets.
In 2013 we plan to strengthen our position as the leading player in mobile phones for seniors even further, but also more distinctly expand our position within Tele Care and create a new business area around our offering of remote care solutions for elderly in their homes. High margins, stable revenues and high entry barriers characterize this segment which represent a very attractive expansion route for us going forward, building on our existing high-value platform. We see interesting opportunities ahead and we have the financial ability, the organisation and know-how to further expand our offering.”
For full report, please view the enclosed pdf file.
For further information, please contact:
President & CEO, Jérôme Arnaud, +46 (0) 46 280 50 05
CFO, Gunnar Modalen, +46 (0) 46 280 50 06
Doro AB discloses the information provided herein pursuant to the Securities Markets Act and/or the Financial Instruments Trading Act. The information was submitted for public release on Thursday, November 8, 2012, at 07:30 a.m. CET.
About Doro
Doro, the leader in the telecom care market, is a Swedish public company. With over 38 years of experience in the telecom industry, the company focuses on developing, marketing and selling products, software, TeleCare and mHealth solutions specially adapted to the growing worldwide population of seniors. Doro’s range of easy-to-use mobile phones is unmatched and its unique know-how has been recognized through several international design awards. The company’s products are sold in more than 30 countries on five continents. In FY 2011 revenue totaled SEK 745 m. Doro’s shares are quoted on the Nasdaq OMX Stockholm exchange, Nordic list, Small companies. Read more about Doro at www.doro.com.
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