This release is a summary of
First quarter 2024: Net sales growth slightly weaker than estimated, operating profit (EBITA) increased by 40.5 percent
January-
- Net sales increased 12.8 percent to
EUR 45.1 million (EUR 40.0 million ). The effect of exchange rates on the comparison period's net sales wasEUR 0.4 million , and at comparable exchange rates, net sales increased by 13.9 percent. -
Operating profit (EBITA) was 11.0 million (
EUR 7.8 million ) or 24.3 percent (19.5%) of net sales. -
Operating profit (EBIT) was 9.0 million (
EUR 5.8 million ) or 19.9 percent (14.5%) of net sales. -
Earnings per share were
EUR 0.30 (EUR 0.17 ).
The figures in brackets refer to the comparison period, i.e., the corresponding period in the previous year. The percentage of change in net sales at comparable exchange rates is calculated by translating the net sales from the comparison period of 2023 with the actual exchange rates of the reporting period of 2024 and by comparing the reported net sales in 2024 with the calculated 2023 net sales at comparable exchange rates.
Key figures
1-3/2024 | 1-3/2023 | Change, % | 1-12/2023 | |
Net sales | 45,078 | 39,971 | 12.8% | 180,743 |
Operating profit (EBITA) | 10,961 | 7,800 | 40.5% | 55,379 |
EBITA, % | 24.3% | 19.5% | 30.6% | |
Operating profit (EBIT) | 8,954 | 5,792 | 54.6% | 47,349 |
EBIT, % | 19.9% | 14.5% | 26.2% | |
Return on equity, % | 6.0% | 4.9% | 33.9% | |
Return on investment, % | 6.9% | 4.7% | 35.6% | |
Interest-bearing liabilities 1 | 4,463 | 28,271 | -84.2% | 20,513 |
Cash and cash equivalents1 | 34,436 | 23,071 | 49.3% | 33,595 |
Net gearing, % 1 | -23.1% | 5.7% | -10.7% | |
Equity ratio, % 1 | 71.6% | 54.2% | 64.4% | |
Earnings per share (EPS), EUR | 0.30 | 0.17 | 73.5% | 1.40 |
Diluted earnings per share, EUR | 0.30 | 0.17 | 73.4% | 1.39 |
Personnel, on average | 797 | 699 | 14.0% | 732 |
1 At the end of period
Juha Varelius, President and CEO
Operating profit (EBITA) in the first quarter was
In January-
We announced two significant partnerships at the beginning of 2024. We joined the Software-Defined Vehicle landscape on
Our view is that we are in an excellent position to grow our position in the software development tools and the quality assurance markets, both within the Qt ecosystem and beyond it. We are continuing to execute the growth strategy we published last fall, and we are confident that our growth will accelerate particularly in the latter half of 2024, and that our full-year net sales will grow in line with our previously published forecast.
Outlook for 2024
We estimate that our full-year net sales for 2024 will increase by 20-30 percent year-on-year at comparable exchange rates and that our operating profit margin (EBITA %) will be 25-35 percent in 2024.
News conference
Further information:
President and CEO
Distribution:
Nasdaq
Key media
www.qt.io
https://news.cision.com/qt-group/r/qt-group-plc-interim-statement-january-march-2024,c3967747
https://mb.cision.com/Public/14183/3967747/85858bc8f9a2df0d.pdf
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