IAR Systems Group Year-end-report 2018

Sales up 13% in fourth quarter

Net sales for the year of SEK 385m and EBITDA of SEK 140m
Operating margin of 30% and cash flow of SEK 93m

FULL-YEAR 2018
›› Net sales of SEK 385.2m (345.0)
›› Sales growth in local currency of 11%
›› EBITDA of SEK 140.1m (127.2), corresponding to an
EBITDA margin of 36.4% (36.9)
›› Operating profit of SEK 115.6m (107.4), corresponding
to an operating margin of 30.0% (31.1) Operating
profit was charged with acquisition expenses of SEK 3.2m
›› Profit before tax of SEK 113.8m (105.7)
›› Basic earnings per share of SEK 6.67 (6.33) and
diluted earnings per share of SEK 6.65 (6.33)
›› Earnings per share of SEK 7.25 (7.32) after current tax
›› Cash flow from operating activities of SEK 92.6m (123.9)
›› Net cash of SEK 103.3m (117.0) at the end of the period
›› The Board intends to propose an ordinary dividend
of SEK 5.00 per share for approval by the Annual General Meeting on April 24, 2019

OCTOBER–DECEMBER 2018
›› Net sales of SEK 102.8m (87.6)
›› Sales growth in local currency of 13%
›› EBITDA of SEK 37.6m (31.9), corresponding to an EBITDA margin of 36.6% (36.4)
›› Operating profit of SEK 31.1m (26.8), corresponding to an operating margin of 30.3% (30.6)
›› Profit before tax of SEK 31.7m (26.4)
›› Basic earnings per share of SEK 1.60 (1.56) and diluted earnings per share of SEK 1.58 (1.56)
›› Earnings per share of SEK 2.21 (1.43) after current tax
›› Cash flow from operating activities of SEK 33.4m (33.3)

KEY EVENTS DURING THE YEAR
›› A private placement was implemented of 812,000
new class B shares, generating a gain for the company
of SEK 178.6m before issue expenses.
›› IAR Systems acquired Secure Thingz and conducted
a non-cash issue. See also Note 7 “Acquisition of
Secure Thingz”.
›› The Extraordinary General Meeting on June 16 voted to introduce a long-term incentive scheme for
employees. The Meeting also voted in line with the Board’s proposal concerning the exchange of warrants for employees in conjunction with the acquisition of Secure Thingz Inc.

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.

Stefan Skarin, CEO, IAR Systems Group AB
email stefan.skarin@iar.com

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