Technology

Sinch AB: Interim report, January – September 2024

Published

2 weeks ago

November 6, 2024

STOCKHOLM, Nov. 6, 2024 /PRNewswire/ — Executing on our efficiency agenda

July – September 2024

Net sales decreased by 2 percent to SEK 7,150m (7,265).Gross profit decreased by 1 percent to SEK 2,406m (2,433).EBITDA decreased by 6 percent to SEK 799m (848).Adjusted EBITDA decreased by 2 percent to SEK 923m (943).An impairment of goodwill of SEK 6,000m had negative impact on quarterly results and Sinch is reporting a loss after tax of SEK -6,095m (46).Basic earnings per share were SEK -7.22 (0.05) and diluted earnings per share were SEK -7.22 (0.05).Cash flow from operating activities amounted to SEK 437m (862).

January – September 2024

Net sales decreased by 1 percent to SEK 20,983m (21,213).Gross profit grew by 1 percent to SEK 7,103m (7,015).EBITDA rose by 5 percent to SEK 2,359m (2,256).Adjusted EBITDA decreased by 2 percent to SEK 2,584m (2,642).The loss after tax for the period was SEK -6,089m (-102).Basic earnings per share were SEK -7.22 (-0.12) and diluted earnings per share were SEK -7.22 (-0.12).Cash flow from operating activities amounted to SEK 2,039m (1,061).

Significant events during the quarter

Sinch updated it’s leverage policy to: Net debt over time shall be below 2.5 times Adjusted EBITDA (measured on a rolling twelve-months basis).Sinch issued a bond of SEK 500m and initiated a call for early redemption of the outstanding bond 2019/2024.Impairment testing of goodwill resulted in a total impairment of SEK 6,000m. The charge is attributable to the product category Applications and primarily relates to MessageMedia.

Significant events earlier this year

The new operating model, organization and management team became operational on 1 January 2024.Sinch was recognized as a 2024 Gartner Magic Quadrant Leader for CPaaS.

Significant events after the end of the quarter

CFO Roshan Saldanha will be leaving Sinch for a similar position in another industry. He will continue in his current role until a successor has taken over or until March 2025 at the latest. The process of finding a replacement has begun.Sinch informed about goodwill impairment and preliminary results for the third quarter.

Invitation to webcast and phone conference
Sinch will present the interim report in a webcast and phone conference on Wednesday, 6 November 2024 at 14:00 CET. Watch the presentation at investors.sinch.com/webcast.

To participate via phone conference, register using the following link: https://conference.financialhearings.com/teleconference/?id=50048793.
After you register, you will be given a phone number and conference ID to log into the conference.

For additional information, please contact:
Ola Elmeland, Investor Relations
+46 72 143 34 59
investors@sinch.com

Thomas Heath, Chief Strategy Officer and Head of Investor Relations
+46 72 245 50 55
investors@sinch.com

Roshan Saldanha, Chief Financial Officer
+46 73 660 24 19
investors@sinch.com

About Sinch

Sinch is pioneering the way the world communicates. More than 150,000 businesses – including many of the world’s largest tech companies – rely on Sinch’s Customer Communications Cloud to improve customer experience through mobile messaging, voice and email. Sinch has been profitable and fast-growing since it was founded in 2008. It is headquartered in Stockholm, Sweden, with shares traded at NASDAQ Stockholm: XSTO:SINCH. Learn more at sinch.com.

Note: Sinch AB (publ), is required to publish the information in this interim report pursuant to the EU Market Abuse Regulation. The information was released for publication by the contact person above on 6 November 2024 at 07:30 CET.

This report is published in Swedish and English. In case of any differences between the English version and the Swedish original text, the Swedish version shall apply.

This information was brought to you by Cision http://news.cision.com

https://news.cision.com/sinch-ab/r/interim-report–january—september-2024,c4061796

The following files are available for download:

https://mb.cision.com/Main/22250/4061796/3096158.pdf

Sinch_2024Q3_ENG_FINAL

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SOURCE Sinch AB

Technology

Oberon Securities Advises Keens Steakhouse in Sale Transaction

Published

2 hours ago

November 23, 2024

Oberon Securities acted as exclusive advisor to Keens Steakhouse in the sale transaction.

NEW YORK, Nov. 23, 2024 /PRNewswire-PRWeb/ — Oberon Securities, a New York-based middle market investment banking firm, acted as exclusive advisor to Keens Steakhouse in the sale transaction announced yesterday.

With more than 70 senior bankers serving businesses across the country and around the world, Oberon is one of the fastest growing New York City based middle-market investment banking firms. Its clients benefit from the market credibility associated with the firm’s longstanding relationships with many of the nation’s largest and most prestigious institutional investors. Oberon’s approach has generated numerous long-term, multi-transaction client engagements and attracted investment bankers who have spent their careers working with middle-market companies.

Media Contact

Steven Alschuler, Oberon Securities, 1 917-647-2151, steve@alschulerpr.com, https://oberonsecurities.com/

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SOURCE Oberon Securities; Oberon Securities

Technology

Specified Technologies Inc. Unveils Firestop Clash Management and Locator Updates

Published

5 hours ago

November 23, 2024

SOMERVILLE, N.J., Nov. 23, 2024 /PRNewswire/ — Specified Technologies Inc. has announced their latest Firestop Clash Management (FCM) and Firestop Locator (FSL) releases. FCM automates the process of locating and assigning firestop solutions to conditions within Autodesk® Revit®, enabling firestop novices to find firestop solutions like a firestop expert. In this latest release, STI has further expanded the capabilities of FCM by integrating it with their firestop documentation and compliance tool, Firestop Locator (FSL). FSL enables contractors and facilities’ teams to document the status, location, and products used for any and all fire life safety services across a building.

In the latest update for FSL, teams can now create custom items to track any service on their project beyond the base six (Penetration, Joint, Extinguisher, Door, Damper, and Barrier). Teams can also modify the base six items to include project specific inspection and maintenance requirements and any other details that they would like to be tracked.

With this new integration, decisions made during the design phase of a building using FCM are seamlessly passed into FSL during the construction phase, giving implementation teams a jump start on work to be done. This integration also improves data integrity and eliminates the guesswork in the field of determining what firestop systems and products are to be used where.

“We’re proud of the latest releases of FCM and FSL and look forward to continuing to support the fire life safety community,” says Justin Pine, Sr. Manager of Software & Services.

Specified Technologies Inc. promotes life and building safety by developing innovative fire protection systems and accompanying digital tools that help stop the spread of fire, smoke, and hot gases. Our SpecSeal® and EZ Path® product lines are engineered for easy installation and deliver powerful performance, often resulting in lower installed costs. Since firestopping is our only business, we concentrate all our resources on providing the highest quality, fully tested, innovative firestopping solutions.

Contact: Jess Bern; jbern@stifirestop.com

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SOURCE Specified Technologies, Inc.

Technology

ZICC: Internet Experts Pay Attention to the Development of Artificial Intelligence

Published

6 hours ago

November 23, 2024

BEIJING, Nov. 23, 2024 /CNW/ — During the Wuzhen Summit of the World Internet Conference, ZICC interviewed Internet experts from all over the world.

Lampros Sterg, UNESCO Chair in AI & Data Science, said that AI can accelerate social progress, but it needs to be used properly to avoid its negative effects in order to benefit citizens and society. Latif Ladid, the president of the IPv6 Forum, called for the establishment of a global governance system to allow artificial intelligence technology to serve humanity for good. South Korean computer scientist Kilnam Chon shared insights on AI’s positive role in healthcare. He urged global efforts to ensure AI safety and prevent its misuse in weapons. Indian entrepreneur Bibin Babu said he believes that AI will not replace humans, but will create more new jobs.

View original content to download multimedia:https://www.prnewswire.com/news-releases/zicc-internet-experts-pay-attention-to-the-development-of-artificial-intelligence-302314745.html

SOURCE ZICC