Interim financial report July - September 2023
MANAGING CHALLENGES WHILE ACHIEVING PROGRESS
THIRD QUARTER 2023
- Net sales totalled MSEK 12,4 (19,0), a change of MSEK -6,6 / -35 %
- EBITDA was MSEK -3,0 (0,3), a change of MSEK -3,3
- EBIT was MSEK -5,8 (-1,9), a change of MSEK -3,9
- Net earnings were MSEK -6,5 (-2,0), a change of MSEK -4,5
- Net earnings per share amounted to SEK -0,12 (-0,05)
Adjusted *
- EBITDA was MSEK -0,4 (0,3), a change of MSEK -0,7
- EBIT was MSEK -3,1 (-1,9), a change of MSEK -1,2
- Net earnings were MSEK -3,9 (-2,0), a change of MSEK -1,9
- Net earnings per share amounted to SEK -0,07 (-0,05)
JANUARY – SEPTEMBER 2023
- Net sales totalled MSEK 42,6 (53,1), a change of MSEK -10,5 / -20 %
- EBITDA was MSEK -10,2 (0,5), a change of MSEK -10,7
- EBIT was MSEK -18,0 (-5,8), a change of MSEK -12,2
- Net earnings were MSEK -18,9 (-6,2), a change of MSEK -12,7
- Net earnings per share amounted to SEK -0,41 (-0,16)
Adjusted *
- EBITDA was MSEK -7,5 (0,5), a change of MSEK -8,0
- EBIT was MSEK -15,4 (-5,8), a change of MSEK -9,6
- Net earnings were MSEK -16,2 (-6,2), a change of MSEK -10,0
- Net earnings per share amounted to SEK -0,35 (-0,16)
| Jul-Sep 2023 | Jul-Sep 2022 | Jan-Sep 2023 | Jan-Sep 2022 | Jan-Dec 2021 | ||
| Net sales, kSEK | 12 364 | 19 005 | 42 589 | 53 058 | 70 416 | |
| EBITDA, kSEK | -3 034 | 268 | -10 161 | 531 | 621 | |
| Adjusted EBITDA, kSEK * | -392 | - | -7 519 | - | - | |
| EBIT, kSEK | -5 786 | -1 927 | -18 038 | -5 810 | -8 140 | |
| Adjusted EBIT, kSEK * | -3 144 | - | -15 396 | - | - | |
| Net earnings, kSEK | -6 510 | -2 029 | -18 891 | -6 206 | -8 768 | |
| Adjusted net earnings, kSEK * | -3 868 | - | -16 249 | - | - | |
| Net earnings per share, SEK | -0,12 | -0,05 | -0,41 | -0,16 | -0,22 | |
| Adjusted net earnings per share, SEK * | -0,07 | - | -0,35 | - | - |
* Adjusted figures have been recalculated by adjusting for items affecting the comparability of the company’s figures. The adjustments amount to kSEK 2 642 (0) during the third quarter of 2023. For more information, refer to the interim report.
EVENTS DURING THE QUARTER
- Westpay implemented a cost savings program to drive positive financial results.
- Westpay has resolved on issues of shares amounting to approximately MSEK 8.5.
- PayEx, one of the leading card acquirers in the Nordics under the brand Swedbank Pay, and Westpay signed a 3-year agreement, where Westpay receives transaction revenues for providing merchant payment services.
EVENTS AFTER THE END OF THE QUARTER
- Nordia Payment Service AS, a leading Norwegian point of sales (POS) provider, has selected Westpay as strategic payment solutions partner. The contract value of the 4-year agreement exceeds MSEK 50.
- Westpay has negotiated and reached an agreement with a customer for settling of the total accrued overdue balance, resulting in a confirmed receivable loss of MSEK 2.6 in Q3 2023.
For more information about news and events: https://investor.westpay.se/financial-reports/