Brief: Fingerprint Cards Q3 EBITDA Profit Swings To Loss Of SEK 38.1 Mln

Fingerprint Cards AB

19/10/2022 06:06

Oct 19 (Reuters) - Fingerprint Cards AB  FINGb.ST :
    * INTERIM REPORT JANUARY – SEPTEMBER 2022
    * Q3 REVENUES SEK 143.2 MILLION VERSUS SEK 354.3 MILLION
YEAR AGO
    * Q3 EBITDA LOSS SEK 38.1 MILLION VERSUS PROFIT SEK 32.3
MILLION
YEAR AGO
    * Q3 CASH FLOW FROM OPERATING ACTIVITIES WAS A NEGATIVE SEK
111.6
M (NEG: 45.5)
    * SHARP DECLINE IN DEMAND FOR SMARTPHONES IN CHINA, AS
RESULT OF
COVID-19-RELATED RESTRICTIONS IN COUNTRY, CONTINUED TO HAVE
SIGNIFICANT NEGATIVE IMPACT ON SALES
    * Q3 GROSS MARGIN SEK 12.2 % VERSUS 28.6 % YEAR AGO
    * HOWEVER, ACCESS SALES OUTSIDE OF CHINA CONTINUED TO
INCREASE IN
Q3 AND LONG-TERM TREND WITHIN PAYMENT & ACCESS REMAINS POSITIVE
    * WHILE DEMAND SITUATION IN MOBILE INDUSTRY REMAINS
CHALLENGING IN
SHORT TERM, OUR ASSESSMENT IS THAT IMPACT OF LOCKDOWNS IN CHINA
ARE OF A TEMPORARY NATURE
    * AS RESTRICTIONS ARE GRADUALLY LIFTED, WE EXPECT TO SEE A
RETURN
TO HISTORICAL LEVELS OF DEMAND FOR MOBILE PHONES, ALBEIT PERHAPS
INITIALLY NOT FULLY
    * AT SAME TIME, WE CAN SEE CONTINUED GROWTH IN APPLICATION
AREAS
OUTSIDE CAPACITIVE FINGERPRINT SENSORS FOR MOBILE PHONES
    * WE EXPECT THESE SEGMENTS TO ACCOUNT FOR ABOUT 30 PERCENT
OF
FINGERPRINTS' REVENUES BY YEAR-END 2022 AND 45 PERCENT BY
YEAR-END 2023

Source text for Eikon:  ID:nGNE6VdR4M 
Further company coverage:  FINGb.ST 
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