Sinch AB: Interim report, January-June 2023
Cash used in operating activities was SEK -13m (668).
"The second quarter marks improvement throughout our business with robust profitability and improved organic growth in both revenues and gross profit." - Laurinda Pang, CEOJanuary - June 2023
Cash flow from operating activities amounted to SEK 199m (809).Significant events during the quarter
The cost reduction program initiated in July 2022 has achieved the savings target communicated when the program was announced. Gross savings total approximately SEK 360m on an annual basis, exceeding the target of SEK 300m.Significant events earlier this year
Sinch launched "Operator Connect for Partners (https://investors.sinch.com/sv/news-releases/news-release-details/sinch-announces-operator-connect-partners)" on 23 March, which makes it possible for service providers and other partners to offer voice calling services via Microsoft Teams.
1) Adjusted EBITDA is reported to clarify performance in underlying operations. See Note 2.
Invitation to webcast and phone conference
Sinch will present the interim report in a webcast and phone conference on Friday, 21 July 2023 at 14:00 CEST. Watch the presentation at investors.sinch.com/webcast.
Follow the link below to register to participate via phone conference. After you register, you will be given a phone number and conference ID to log into the conference. https://conference.financialhearings.com/teleconference/?id=200888
For additional information, please contact:
+46 72 143 34 59
Chief Strategy Officer and Head of Investor Relations
+46 72 245 50 55
Chief Financial Officer
+46 73 660 24 19
Sinch powers meaningful conversations between businesses and their customers through its Customer Communications Cloud. More than 150,000 businesses - including many of the world's largest tech companies - rely on Sinch and its global super network, which is the most secure and reliable network for messaging, voice and email. Sinch has been profitable and fast-growing since it was founded in 2008. It is headquartered in Stockholm, Sweden, with shares traded at NASDAQ Stockholm: XSTO:SINCH. Learn more at sinch.com (https://www.sinch.com).
Note: Sinch AB (publ), is required to publish the information in this interim report pursuant to the EU Market Abuse Regulation and the Swedish Securities Market Act. The information was released for publication by the contact person above on 21 July 2023 at 07:30 CEST.
This report is published in Swedish and English. In case of any differences between the English version and the Swedish original text, the Swedish version shall apply. This report has not been subject to review by the company's independent auditors.