Brief: Fingerprint Cards Proposes No Dividend For 2023

Fingerprint Cards AB

08/02/2024 06:15

Feb 8 (Reuters) - Fingerprint Cards AB  FINGb.ST :
    * Q4 CASH FLOW FROM OPERATING ACTIVITIES WAS NEGATIVE SEK
60.4 M
(NEG: 103.9)
    * PROPOSES TO ANNUAL GENERAL MEETING THAT NO DIVIDEND BE
PAID FOR
2023 FISCAL YEAR
    * WE SAW A MODEST GROSS MARGIN IMPROVEMENT COMPARED TO
CORRESPONDING QUARTER LAST YEAR
    * FULLY EXPECT IMPROVED PROFITABILITY GOING FORWARD AS WE
FOCUS
OUR CAPITAL AND INVESTMENTS OUTSIDE OF MOBILE SENSOR HARDWARE
    * GROSS MARGIN IN MOBILE PRODUCT GROUP IS UNSUSTAINABLY LOW
    * NEGATIVE OUTLOOK FOR MOBILE LOOKS SET TO ENDURE, ALONG
WITH
ONGOING GEOPOLITICAL RISKS, FURTHER REINFORCING NEED FOR THIS
TRANSFORMATION PLAN
    * WE CONTINUED TO DECREASE OUR INVENTORY IN Q4, FROM SEK 156
MILLION AT END OF SEPTEMBER 2023 TO SEK 134 MILLION AT END OF
DECEMBER
    * WE ARE ENTERING 2024 WITH AN ACCEPTABLE INVENTORY GIVEN
CURRENT
INDUSTRY DEMAND
    * WE CONTINUED TO SEE AGGRESSIVE DESTOCKING MEASURES BY
SEVERAL
SUPPLIERS DURING QUARTER.

Source text for Eikon:  ID:nGNE4hNsFR 
Further company coverage:  FINGb.ST 

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