InCoax's sales growth continued in 2023, and the financial goal to double the sales compared to 2022 was exceeded by a margin. The partnership established with Nokia lays the foundation for continued strong growth.
Financial performance
- Net sales amounted to
SEK 59,619,447 (25,922,260), corresponding to an increase of 130 percent compared to the same period last year. -
The operating result for the year amounted to
SEK -16,729,885 (-22,329,647), an improvement driven by higher sales in 2023. -
The year's result after tax amounted to
SEK -16,980,631 (-22,815,010), which results in earnings per share of -0.23 SEK (-0.32). -
Cash flow including financing activities for the full year amounted to
SEK -21,306,145 (2,012,771).
Significant events after the end of the year
January
- Bulletin from the extraordinary general meeting in
InCoax Networks AB . - InCoax publishes prospectus in connection with rights issue.
- InCoax secures orders of 545 kUSD (5.4 MSEK) from US-Based FiberLAN operator.
- InCoax publishes supplementary prospectus.
- InCoax announces the outcome of the rights issue, which was subscribed to 123% and provides the company with 52.6 MSEK before issue costs.
February
- InCoax receives orders totaling
2 million USD (current value approximately21 million SEK ) from the US-based FiberLAN operator.
March
Andreas Bergman has been appointed Chief Commercial Officer (CCO) and member of the executive team at InCoax as ofMarch 1, 2024 .Helge Tiainen remains in InCoax's executive team, responsible for Business Development and Standardization.- InCoax Networks AB Year-End Report 2023.
Full the full report, please download the attached PDF. The full report is also available at www.incoax.com.
This information is such information as
For additional information, please contact:
jorgen.ekengren@incoax.com
+46 73 899 55 52
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https://news.cision.com/incoax-networks-ab/r/incoax-networks-ab-annual-report-2023,c3983188
https://mb.cision.com/Main/15562/3983188/2803297.pdf
https://mb.cision.com/Public/15562/3983188/9530f251b7b19182.pdf
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