IAR Systems Group AB (publ) Interim Report Jan-March 2018
IAR Systems acquires Secure Thingz and conducts private placement
Net sales for the period of SEK 89 and EBITDA of 35 operating margin of 33% and cash flow of SEK 19M
January-March 2018
- Net sales of SEK 88.9m (86.4)
- EBITDA of SEK 34.7m (30.6), corresponding to an EBITDA margin of 39.0% (35.4)
- Operating profit of SEK 29.5m (26.2), corresponding to an operating margin of 33.2% (30.3)
- Profit before tax of SEK 29.1m (25.4)
- Basic earnings per share of SEK 1.81 (1.49) and diluted earnings per share of SEK 1.81 (1.49)
- Earnings per share of SEK 1.79 (1.94) after current tax
- Cash flow from operating activities of SEK 19.1m (26.5)
- Net cash of SEK 112.2m (118.0) at the end of the period
Key events during the period
-
IAR Systems signed an agreement to acquire
Secure Thingz. -
The Board of Directors decided to implement a private placement of 812,000 new class B shares, generating a gain for the company of SEK 178.6m before issue expenses
Key events after the end of the period
The acquisition of Secure Thingz was completed, and the Board resolved on a non-cash issue of 164,584 class B shares to the shareholders in Secure Thingz, who will pay for the shares through a contribution in kind in the form of shares in Secure Thingz Inc. Refer to page 6 for more information.
IAR Systems Contacts
Josefin Skarin, Investor Relations, IAR Systems Group AB
Email: josefin.skarin@iar.com
Stefan Skarin, CEO and President, IAR Systems Group AB
Email: stefan.skarin@iar.com
This information is information that IAR Systems Group AB is obliged to make public pursuant to the EU Market Abuse Regulation. The information was submitted for publication, through the agency of the contact person set out above, at 13:00 CET on April 25 2018.
IAR Systems supplies future-proof software tools and services for embedded development, enabling companies worldwide to create the products of today and the innovations of tomorrow. Since 1983, IAR Systems’ solutions have ensured quality, reliability and efficiency in the development of over one million embedded applications. The company is headquartered in Uppsala, Sweden and has sales and support offices all over the world. IAR Systems Group AB is listed on NASDAQ OMX Stockholm, Mid Cap. Learn more at www.iar.com.