Summary April -
** Net sales amounted to
** EBIT amounted to
** EBIT adjusted for severance pay amounted to
** Profit after tax amounted to
** Earnings per share before/after dilution amounted to
** Cash flow from operating activities amounted to
CEO Comments
The second quarter of 2023 saw continuing high levels of activity, resulting in a successful quarter for most of the markets where MSAB is active. We finalised a number of important contracts, but in particular, there was a very high degree of license renewal for our extraction and analysis software. Our customers demonstrate firm confidence in our solutions, partly through the renewal of multi-year contracts, and partly through previous customers reactivating their licenses when they discover the number of new functions our products offer.
During the quarter, the marketing and sales organisation was fully focused on introducing and presenting our latest premium product XRY Pro, which complements and upgrades our software family
of mobile forensic solutions. We are continually developing our offering; hence there is an ever-rising demand for them from law enforcement agencies and in the justice system.
Net sales in the second quarter amounted to a total of
The mobile forensic industry continues to be characterised by a high pace of development. The need to handle and expand new technology, to meet customers' process changes and support their digital transformation places strong demands on MSAB to continue developing its products, services, and new business models. Our continuing growth also demands competence development for current personnel and a high pace of recruitment of new employees. Today, we seek competence in a more global perspective than previously in order to secure the right specialist competencies.
European sales were very strong during the quarter, driven primarily by the French and
and
We see defence authorities and intelligence agencies requesting high performance levels to improve their mobile forensic operations, especially for our Frontline solutions, where their personnel can quickly read mobile phones out in the field, or at their place of work, instead of going through the forensic lab. In this way, lead times can be shortened, and labs can focus on more difficult cases. Many authorities have also realised the value of having access to technology developed by a company that operates in accordance with EU legislation, as EU legislation is generally stricter when it comes to integrity and ethics. MSAB is the only European supplier of mobile forensics.
MSAB's solutions are increasingly important for authorities in need of digital forensic solutions. Mobile data can, for example, be part of tax and customs investigations, and we see requests for our solutions increasing from authorities other than our traditionally largest customer segments: the police, defence, and intelligence services. Being able to extract and analyse data from mobile phones in a broader perspective can generate additional business opportunities for MSAB, thereby contributing to an expanding market for the Company.
Additionally, we see an increase in interest from private actors and to meet this need we introduced during the quarter a number of new software fuctions that have already generated new business. We believe these new capabilities can provide future growth.
I am proud of MSAB's accomplishments during the first half-year and I'm convinced that our strong brand, innovative product development, and broad offering within mobile forensics will continue to generate new business on our prioritised markets globally in the coming years.
Mikael Falkovén
Interim CEO, MSAB
For further information, please contact:
Mikael Falkovén, Interim CEO MSAB, mikael.falkoven@msab.com, +46 73 981 83 40
About MSAB:
MSAB is a world leader in forensic technology for extracting and analyzing data in seized mobile devices. The company develops high-quality and easy-to-use software for law enforcement organizations, such as police, defense, and customs. The products, which have become a de facto standard for securing evidence in criminal investigations, can be supplemented with reporting tools and a large range of training with certifications within a holistic method for forensic science. The company serves customers in more than 100 countries worldwide, through its own sales offices and through distributors. MSAB is listed on Nasdaq Stockholm under the ticker name: MSAB B. www.msab.com
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