Växjö, Sweden, 9 February 2024 * * * JLT Mobile Computers, a leading supplier of rugged computers for demanding environments, publishes its year-end report for 2023 today.
Results for the period in brief
- Order intake MSEK 135.4 (165.7)
- Net revenues MSEK 158.8 (167.2)
- Operating profit MSEK 1.9 (6.3)
- Profit after taxes MSEK 1.7 (5.3)
- No dividend is proposed (SEK 0.20)
Short summary
- Order intake recovered during the fourth quarter and closed at MSEK 57, an increase from MSEK 53 last year. Net revenues also recovered, closing at MSEK 43, compared with MSEK 41 in the same period last year.
- During the year, the OEM and port segments increased by more than 60% from the previous year, compensating for weak demand in the transportation segment.
- As a result of this difficult market situation in the transport sector, a large American transportation company, and a major project customer of JLT, filed for bankruptcy under Chapter 11 in August. JLT lost sales of approximately MSEK 15 in 2023. As a result of the bankruptcy, related service agreements have been recognized as profit and reported as income of MSEK 3.2. JLT suffered no credit losses.
- To adapt the operations to the lower revenues, measures were taken in the second half of the year to reduce the cost base.
- With the aim of strengthening competitiveness and growth potential, JLT delivered on its strategic initiatives:
- Developing Insights, a Business Intelligence (BI) solution, to match competing solutions and create key competitive advantages.
- Android development for the JLT6012A computer with supplementary features to be launched in early 2024.
- Further progress of the French subsidiary, which reported a 22% growth for the year.
- Acquisition of a minority stake in Australian partner Control Synergy Pty Ltd to create a base for future expansion in APAC.
- Centralizing the management function to achieve more effective control and better use of the company's existing resources.
- Transfer of the property for JLT's headquarters in Växjö, through acquiring the property company Fjällrenen Fastighets AB from Jan Olofsson, to develop the premises in line with the needs of the operations and reduce costs.
- Transfer of the property for JLT's headquarters in Växjö, through acquiring the property company Fjällrenen Fastighets AB from Jan Olofsson, to develop the premises in line with the needs of the operations and reduce costs.
- The company is actively engaged in gradually reducing the inventory levels that increased during the global component shortage in 2021 and 2022.
- The operations have been adapted to the prevailing market situation to position the company for market recovery and achieve long-term growth and profitability targets.
The full year-end report is attached to this press release and published on the company's website, jltmobile.com. Additional financial information is available online on JLT's investor pages.
This information is information that JLT Mobile Computers AB (pub) is obliged to make public pursuant to the EU Market Abuse Regulation and the Securities Markets Act. The information was submitted for publication, through the agency of the contact person set out below, at 08:00 am CET on February 9, 2024.
This report in English is a translation of the Swedish original and has not been separately audited, any information regarding auditing thus refers to the Swedish original.
| Reader enquiries JLT Mobile Computers Group | Certified Adviser | |
| Per Holmberg, CEO | Eminova Fondkommission AB | |
| Tel: +46 70 361 3934 | Tel: +46 8 684 211 10 | |
| per.holmberg@jltmobile.com (mailto:per.holmberg@jltmobile.com) www.jltmobile.com (https://jltmobile.com/sv/?utm_campaign=press_release_se__pd&utm_medium=pr&utm_source=Paid) | adviser@eminova.se (mailto:Adviser@eminova.se) www.eminova.se (https://www.eminova.se) |
About JLT Mobile Computers
Reliable performance, less hassle. JLT Mobile Computers is a leading supplier of rugged mobile computing devices and solutions for demanding environments. Over 25 years of development and manufacturing experience have enabled us to set the standard in rugged computing, combining outstanding product quality with expert service, support and solutions to ensure trouble-free business operations for customers in warehousing, transportation, manufacturing, mining, ports, and agriculture. JLT operates globally from offices in Sweden and the US, complemented by an extensive network of sales partners in local markets. The company was founded in 1994, and the share has been listed on the Nasdaq First North Growth Market stock exchange since 2002 under the symbol JLT. Eminova Fondkommission AB acts as Certified Adviser. Learn more at www.jltmobile.com.
Attachment
- Year-end report 2023 (https://ml-eu.globenewswire.com/Resource/Download/ea38f5c2-e778-40a3-9ffc-99f4b9dd5c93)
