28.02.2023 22:15:05
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EQS-News: Allterco JSCo exceeds forecast sales revenue growth in 2022 EBIT in line with forecast as investments intensified according to plan
EQS-News: Allterco JSCo
/ Key word(s): Preliminary Results/Annual Results
Allterco JSCo exceeds forecast sales revenue growth in 2022 EBIT in line with forecast as investments intensified according to plan
Note: The figures for the twelve-month period 2022 are unaudited. Rounding differences may occur. With an equity ratio of 89.0% as of 31 December 2022, Allterco enjoys a solid balance sheet (31 December 2021: 90.5%). Here, in particular, the unappropriated profit and the reduction in non-current bank loans by 25.9% to EUR 0.9 million (BGN 1.8 million)* were offset by the payout of a dividend, bonus payments to employees and changes in customs-related tax liabilities. Cash flow from operating activities with a cash inflow of EUR 0.2 million (BGN 0.4 million)* compared to a cash inflow of EUR 4.1 million (BGN 8.1 million) in the twelve-month period 2021 reflects in particular increasing inventories matching higher sales revenue and advance payments to suppliers to proactively address potential delays in the supply chains. Cash and cash equivalents decreased accordingly to EUR 14.4 million (BGN 28.2 million)* as of 31 December 2022 compared to EUR 15.6 million (BGN 30.5 million) as of 31 December 2021, providing a sufficient basis for financing further growth. Guidance for the current financial year 2023 will be announced in conjunction with the release of the 2022 Annual Report on 28 April 2023. Wolfgang Kirsch, Co-CEO of Allterco JSCo, added on business performance: In the past fiscal year, we exceeded our revenue forecast with growth in all product categories and in all regional markets. Our investments in expanding our regional sales teams, increasing R&D capacity and developing the professional market are already paying off. In view of the strong order backlog, we are confident about the current fiscal year. For the full year 2023, we expect growth to be in line with the previous year. While keeping our costs under control in the face of numerous economic challenges, we expect our investments to continue to add value with noticeable improvements in EBITDA and EBIT margins. * EUR/BGN exchange rate as of 28 February 2023 EUR 1 = BGN 1.95583 Allterco JSCo is a technology holding company that stands for innovation through the development, manufacture, and distribution of high-quality IoT products. End users and their needs are always at the heart of development. Allterco was founded in Bulgaria and works with a team of young, talented developers who are dedicated to producing competitive and user-friendly products. The Group consists of 5 subsidiary companies and has offices in Bulgaria, China, USA and Germany. Allterco's products have already conquered over 100 markets. Allterco JSCo has been listed on the Bulgarian Stock Exchange since December 2016 and on the Frankfurt Stock Exchange as of November 2021 where its shares are traded under GSIN A2DGX9, ISIN BG1100003166, ticker A4L. CROSS ALLIANCE communication GmbH
28.02.2023 CET/CEST Dissemination of a Corporate News, transmitted by EQS News - a service of EQS Group AG. |
Language: | English |
Company: | Allterco JSCo |
103 Cherny Vrah Bldv | |
1407 Sofia | |
Bulgaria | |
E-mail: | s.iliev@allterco.com |
Internet: | www.allterco.com |
ISIN: | BG1100003166 |
WKN: | A2DGX9 |
Listed: | Regulated Market in Frankfurt (Prime Standard); Regulated Unofficial Market in Berlin |
EQS News ID: | 1571233 |
End of News | EQS News Service |
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1571233 28.02.2023 CET/CEST
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