"Our revenue declined by 10 percent in the first quarter, which reflects the soft sentiment of the general telecom equipment market, caused by weak macro, curbing the investment spendings in the industry. While we compare ourselves with a strong first half of 2023 with certain larger projects, the first quarter was, like the previous two quarters, dominated by steady development of smaller projects in Smartoptics' core markets Enterprise and Smaller service providers. Clearly, these market areas are growing, which proves our attractiveness," says Magnus Grenfeldt, Chief Executive Officer of Smartoptics.
Smartoptics reported revenues in the first quarter of 2024 of
The operating cash flow for the quarter was
"Our EBITDA margin remained acceptable, though lower than normal, resulting from the relatively low revenue number. At the same time, it is satisfactory to conclude that we continue to deliver high gross margins and a strong cash flow. During the quarter, we continued to develop Smartoptics along our strategic path. We strengthened our product portfolio and improved our marketing and sales capabilities, broadening our addressable market," Grenfeldt continues.
The market for fiber optical network equipment is worth
In 2024, several factors can contribute to a reinstallation of growth with a high activity level in
"We are thrilled to have reached this milestone and our ambition is to grow our business by adding larger accounts. This milestone paves the way for further development and larger purchase volumes in the future. Despite a soft first quarter of 2024, and assuming the market sentiment in our main markets return to normal during 2024, we maintain our long-term ambitions of growing our revenue up to
QUARTERLY PRESENTATION:
Smartoptics will host a presentation of the results by CEO
Date: Wednesday
Time:
Venue:
Language: English
Link: https://channel.royalcast.com/hegnarmedia/#!/hegnarmedia/20240508_17
A recorded version of the presentation will be available after the live stream is concluded.
Please find the full financial report and presentation enclosed.
*) EBITDA and other alternative performance measures (APMs) are defined and reconciled to the IFRS financial statements as a part of the APM section of the first quarter 2024 financial report on page 13.
For further information, please contact:
Magnus Grenfeldt
CEO Smartoptics
+46 73-366 88 77
E-mail: magnus.grenfeldt@smartoptics.com
About Smartoptics:
Smartoptics provides innovative optical networking solutions and devices for the new era of open networking. Our customer base includes thousands of enterprises, governments, cloud providers, Internet exchanges as well as cable and telecom operators. We have an open networking approach in everything we do which allows our customers to break unwanted vendor lock-in, remain flexible and minimize costs. Our solutions are used in metro and regional network applications that increasingly rely on data center services and specifications. Smartoptics is a Scandinavian company founded in 2006. We partner with leading technology and network solution providers such as Brocade, Cisco and
For additional information about Smartoptics, please visit https://smartoptics.com
This information is considered to be inside information pursuant to the EU Market Abuse Regulation and is subject to the disclosure requirements pursuant to Section 5-12 the Norwegian Securities Trading Act. This
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