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Truecaller AB: Increased focus on recurring revenues

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STOCKHOLM, Feb. 20, 2024 /PRNewswire/ — Truecaller, the leading global platform for verifying contacts and blocking unwanted communication, increased EBITDA with 24% to SEK 169 million (136) and the EBITDA margin was 39.7% (30.6%) in the fourth quarter. Earnings per share increased with 43% to 0.33 SEK (0.23) while net sales decreased with 4% to SEK 424.7 million (444.1).

“During the fourth quarter, our user base grew by six million, landing at an average of 374 million monthly active users. The trend of high growth rates outside of India continued. During the quarter, we saw higher relative growth in regions outside of India and the Middle East. India continues to be an important market for us, and we continue to be one of the most loved apps in the market. We are proud to have reached a new all-time high in our Net Promoter Score in India, ending the quarter at an NPS of 62. The growth rate in the number of paying users was almost twice as high as that for the total user base.

Net sales amounted to SEK 425 million (444), a decrease with 4% compared to the same quarter in 2022, as a result of a 12% decrease in revenue from our advertising business. Our recurring revenues from businesses increased by 42%, and consumer subscription revenues increased by 23%.

Our profitability and cash flow continued to be strong. EBITDA increased by 24 percent to SEK 169 million (136), and the EBITDA margin was 40% (31%). Earnings per share increased by 43% to SEK 0.33 (0.23). The operational cash flow amounted to SEK 170 million (46) for the quarter.

The fourth quarter was the strongest yet for Truecaller for Business in terms of customer uptake. The customer base now consists of more than 2,500 larger companies, and the trend of customers opting for higher-priced plans continues.

Our balance sheet remains solid with SEK 1.6 billion in cash and short-term investments and 25.3 million repurchased shares, providing stability and flexibility contributing to long-term shareholder value. Since the end of the third quarter of 2022, our cash flow has enabled us to repurchase shares totaling SEK 842 million and make small acquisitions while maintaining a stable cash position. With the financial strength at hand, the board has decided to propose to the annual general meeting to cancel the repurchased B shares, which currently represent 6.7% of the total outstanding shares, and request a new repurchase mandate

During 2024 we will increase our focus to develop AI-based features to prevent fraud, grow our user base and recurring revenues with the long-term ambition to make them a much larger share of our total revenues.” says Alan Mamedi CEO of Truecaller 

October-December 2023 (Q4)

Comparative figures refer to October-December 2022

Net sales decreased by 4 percent to SEK 424.7m (444.1).Adjusted EBITDA amounted to SEK 168.5m (135.9), corresponding to an adjusted EBITDA margin of 39.7 (30.6) percent. Excluding the costs of incentive programs, adjusted EBITDA would have been SEK 170.5m (145.7), equivalent to an adjusted EBITDA margin of 40.1 (32.8) percent.Profit after tax amounted to SEK 116.2m (85.5).Basic earnings per share were SEK 0.33 (0.23) and diluted earnings per share were SEK 0.33 (0.23).The average number of active users (MAU) increased by 35.8 million to approximately 374.1 million (338.2).Net sales decreased by 1 percent in India, by 15 percent in the Middle East and Africa and by 8 percent in the rest of the world.Truecaller’s board of Directors has decided to propose to the Annual General Meeting (AGM) in May to cancel all repurchased B-shares and request a new mandate to have the ability to continue to repurchase shares after the AGM.

January-December 2023

Comparative figures refer to January-December 2022

Net sales decreased by 2 percent to SEK 1,728.9m (1,772.9)Adjusted EBITDA amounted to SEK 702.9m (717.2), corresponding to an adjusted EBITDA margin of 40.7 (40.5) percent. Excluding the costs of incentive programs, adjusted EBITDA would have been SEK 742.7m (747.3), equivalent to an adjusted EBITDA margin of 43.0 (42.2) percent.Profit after tax amounted to SEK 536.3m (535.2).Basic earnings per share were SEK 1.49 (1.43) and diluted earnings per share were SEK 1.49 (1.43).The average number of active users (MAU) increased by 35.3 million to approximately 360.5 million (325.2).Net Sales decreased by 1 percent in India, by 13 percent in the Middle East and Africa and stable in the rest of the world.

Presentation of the report

Alan Mamedi, CEO and Odd Bolin, CFO presents the report and answers questions in a webcast and conference call today at 13.00 CET. The presentation will be held in English.

If you wish to participate via webcast please use the link below.
https://ir.financialhearings.com/truecaller-q4-report-2023/register 

If you wish to participate via teleconference please register on the link below. After registration you will be provided phone numbers and a conference ID to access the conference. You can ask questions verbally via the teleconference.
https://conference.financialhearings.com/teleconference/?id=50047335 

For more information, please contact:
Odd Bolin, CFO
investors@truecaller.com

Andreas Frid, Head of IR & Communication
+46 705 29 08 00
andreas.frid@truecaller.com

This information is information that Truecaller is obliged to make public pursuant to the EU Market Abuse Regulation 596/2014. The information was submitted for publication, through the agency of the contact persons set out above, at the time stated by the Company’s news distributor, Cision, at the publication of this press release.

About Truecaller:
Truecaller (TRUE B) is the leading global platform for verifying contacts and blocking unwanted communication. We enable safe and relevant conversations between people and make it efficient for businesses to connect with consumers. Fraud and unwanted communication are endemic to digital economies. especially in emerging markets. We are on a mission to build trust in communication. Truecaller is an essential part of everyday communication for more than 374 million active users, with more than a billion downloads since launch and around 50 billion unwanted calls identified and blocked in 2022. Headquartered in Stockholm. since 2009. we are a co-founder led. entrepreneurial company. with a highly experienced management team. Truecaller is listed on Nasdaq Stockholm since 8 October 2021. For more information. please visit corporate.truecaller.com

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SOURCE Truecaller AB

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Huawei Launches Over 20 All-New Xinghe Intelligent Network Offerings to Amplify Industrial Intelligence

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SHANGHAI, Sept. 21, 2024 /CNW/ — During HUAWEI CONNECT 2024, Leon Wang, President of Huawei’s Data Communication Product Line, announced more than 20 all-new Xinghe Intelligent Network offerings globally at the summit themed “Xinghe Intelligent Network, Amplify Industrial Intelligence”. These purpose-built offerings contribute to an AI network ecosystem and help customers seize opportunities for intelligent development and maximize intelligent productivity.

With the development of AI technologies, the world is advancing from digital transformation to intelligent transformation. All industries are quickly adopting AI technologies to create new use cases, for example, self-driving cars, intelligent diagnosis and treatment, and intelligent train inspection. All of these are significantly improving the efficiency and experience of our work and daily lives.

The advent of the intelligent era is driving networks into intelligent ones. Huawei has been making joint efforts with partners to lead research and practices of intelligent networks. That’s why Huawei constantly upgrades its Xinghe Intelligent Network offerings to help customers grasp opportunities for intelligent development, build new intelligent network infrastructure, and maximize intelligent productivity in the intelligent era. Key highlights include the following:

Xinghe Intelligent Campus focuses on AI-enabled, experience-centric campus network construction, ensuring zero freezing for audio and video applications, zero degradation on services, and zero waiting for interactions.Xinghe Intelligent WAN introduces a wide range of intelligent technologies to intelligently schedule millions of flows and precisely optimize service experience.Xinghe Intelligent Fabric adopts the AI Turbo engine to improve network throughput, enhancing foundation model training efficiency.Xinghe Intelligent Network Security integrates AI technologies into network security detection, accurately and rapidly identifying threats.

To support network solutions in various scenarios, Huawei released more than 20 featured offerings globally. Examples include the industry’s first 100 Tbps fixed-form Ethernet data center switch, the industry’s first 51.2 Tbps liquid-cooled fixed-form data center switch, the industry’s first AI router, high-quality 10 Gbps campus switches and Wi-Fi 7 APs, Intelligent SASE Branch Security Solution, and the industry’s first IP Autonomous Driving Network Solution. All these offerings are designed to help customers with greater business returns.

As the intelligent era calls for intelligent networks, Huawei will continue to drive the development of intelligent networks and upgrade its Xinghe Intelligent Network products and solutions, ultimately helping global customers to stride towards the intelligent era and reap more benefits.

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SOURCE Huawei

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HUAWEI CONNECT 2024 | Huawei Unveils the Brand-New Xinghe Intelligent Fabric Solution, Powering the AI Era

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SHANGHAI, Sept. 21, 2024 /PRNewswire/ — At HUAWEI CONNECT 2024, over 300 industry leaders, experts, and scholars gathered for the data center network session themed “Xinghe Intelligent Fabric, Powering the AI Era.” The event featured discussions on the evolution and technological advancements of data center networks. During the session, Arthur Wang, President of Data Center Network Domain at Huawei’s Data Communication Product Line, introduced the newly upgraded Xinghe Intelligent Fabric solution. This cutting-edge solution aims to establish a data center network characterized by one map for intelligent operations and maintenance (O&M), one network for diverse computing, and one platform for simplified deployment, providing a robust network infrastructure to support enterprises’ digital and intelligent transformations.

In his keynote speech, Arthur Wang outlined the emerging trends in data center network development. He emphasized that in the AI era, data center networks require both a “brilliant brain” and “resilient bones.” The newly launched Xinghe Intelligent Fabric solution is designed to deliver a powerful network infrastructure tailored for the AI era, featuring:

One Map for Intelligent O&M: Zero Management Concerns

Huawei’s exclusive network digital map enables rapid cross-data center and cross-vendor fault identification within minutes. Additionally, the NetMaster network large model facilitates AI-driven O&M, eliminating manual intervention and ensuring zero management concerns.

One Network for Diverse Computing: Zero Service Interruptions

The Xinghe Intelligent Fabric supports various application scenarios, including intelligent computing, general-purpose computing, and storage. The innovative Network Scale Load Balancing (NSLB) algorithm increases network throughput to 95% and boosts AI training efficiency by over 10%. With the exclusive iReliable three-level fast switchover capability, it achieves sub-millisecond switchover, guaranteeing zero service interruptions.

One Platform for Simplified Deployment: Zero Configuration Errors

By employing digital twins to simulate networks in advance and verify configurations post-deployment, the solution ensures 100% accuracy in network changes. By harnessing network-security convergence capabilities, AI creates an intelligent security matrix to analyze millions of security policies, achieving zero configuration errors.

Looking ahead, Huawei will continue to collaborate with industry partners to enhance research and innovation in data center networks, promote intelligent upgrades, and create greater value for the industry.

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SOURCE Huawei

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Cultivating a Culture of Peace: International Day of Peace Statement by Education Cannot Wait Executive Director Yasmine Sherif

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NEW YORK, Sept. 21, 2024 /CNW/ — The longing for peace transcends time, geography and religion. Based on justice, human rights and universal values outlined in the UN Charter, a culture of peace brings us all together in our common agenda for humanity. We can only co-exist by aligning ourselves with such a world order.

On today’s International Day of Peace, we call on world leaders to end conflict and embrace a culture of peace as enshrined in the UN Charter and related international law.

As the UN General Assembly outlined in the Declaration and Programme of Action on a Culture of Peace  a quarter of a century ago, this must include: “Respect for life, human rights and fundamental freedoms; the promotion of non-violence through education, dialogue and cooperation; commitment to peaceful settlement of conflicts; and adherence to freedom, justice, democracy, tolerance, solidarity, cooperation, pluralism, cultural diversity, dialogue and understanding at all levels of society and among nations.”

Educating for peace starts at home and continues in school through years of education. This takes place during the most formative years of a child learning about their identity, ethics, values, conscience, courage and compassion. Wherever there has been a failure in imparting on children the imperative for peace, the world is turned upside down. This is a global failure with no geographical boundaries.

Today, we live in a world of unprecedented violence, armed conflict and chaos. All the genuine and heartfelt commitments made in 1945 in the UN Charter seem to be fading away. Children and adolescents are the most vulnerable, the least protected, and the most impacted. They bear the brunt. 

Global conflicts killed three times as many children in 2023 than in the previous year, according to the United Nations. The number of forcibly displaced people reached an unprecedented 120 million in May 2024.

“In 2023, the United Nations verified a record 32,990 grave violations against 22,557 children in 26 conflict zones, a 35% increase from the previous year,” according to recent analysis by the UN.

We can end these violations and invest in a constructive co-existence globally. We can use our resources for education, rather than for wars. In classrooms around the world, girls and boys who have withstood the wrath of war can rebuild their hopes and their lives. Cultivating a culture of peace is possible. The financial resources exist. The choice as to how we use them is ours.

View original content to download multimedia:https://www.prnewswire.com/news-releases/cultivating-a-culture-of-peace-international-day-of-peace-statement-by-education-cannot-wait-executive-director-yasmine-sherif-302254413.html

SOURCE Education Cannot Wait

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