IAR Systems Group AB (publ) Interim Report Jan-Jun 2014

Growth of 12% and operating profit up by 65%

Operating margin of 20.3% (13.7%). EBITDA margin of 24.2% (17.3%)

January – June 2014

  • Net sales of SEK 124.7m (113.8)
  • EBITDA of SEK 28.9m (20.1)
  • Operating profit of SEK 24.1m (15.8)
  • Profit before tax of SEK 24.5m (15.9)
  • Cash flow from operating activities of SEK 30.5m (12.9)
  • Net cash at the end of the quarter was SEK 39.4m (30.3)
  • EBITDA margin of 23.2% (17.7)
  • Operating margin of 19.3% (13.9)
  • Earnings per share after current tax amounted to SEK 1.85 (1.20)
  • Earnings per share of SEK 1.46 (1.05) before dilution and SEK 1.46 (0.97) after dilution

April – June 2014

  • Net sales of SEK 62.7m (56.1)
  • EBITDA of SEK 15.2m (9.7)
  • Operating profit of SEK 12.7m (7.7)
  • Profit before tax of SEK 12.9m (7.8)
  • EBITDA margin of 24.2% (17.3)
  • Operating margin of 20.3% (13.7)
  • Earnings per share after current tax amounted to SEK 0.98 (0.55)
  • Earnings per share of SEK 0.77 (0.53) before dilution and SEK 0.77 (0.49) after dilution

Key events during the period

  • Launch of C-RUN add-on product for runtime analysis of developed code and delivery of C-RUN for ARM processors
  • The new issue of 287,500 class B shares (of which 55,500 are under registration) through the exercise of
    subscription warrants provided the company with proceeds of SEK 9.8m
  • Through a redemption program during Q2, SEK 62.7m has been transferred to the shareholders.

AR Systems is the world’s leading independent provider of software for programming of processors in embedded systems*. The software is used by around 46,000 customers to develop products based on 8-, 16- and 32-bit processors, mainly in the areas of industrial automation, medical devices, consumer electronics and the automotive industry. IaR Systems has a powerful ecosystem of partners that include the world’s leading semiconductor vendors. IAR Systems Group AB is listed on NASDAQ OMX Stockholm, Small cap.

Stefan Skarin, CEO, IAR Systems Group AB

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