Bifogade filer
KOLL_Q3 2022
Prenumeration
Beskrivning
| Land | Sverige |
|---|---|
| Lista | First North Stockholm |
| Sektor | Tjänster |
| Industri | Allmänna tjänster |
Waterford, Ireland – Nov 1, 2022, Kollect On Demand Holding AB (publ) (“Kollect” or the “Company”) (Nasdaq: KOLL), is pleased to publish its Interim Report for Q3 2022.
Highlights from the Quarter:
- Revenue for continuing operations in Q3 2022 was SEK 18.5 million, up 24% on Q3 2021 revenue of SEK 14.9 million, and up 10% compared to Q2 2022 revenues of SEK 16.8 million.
- Recurring revenue from continuing operations of SEK 9.1 million in Q3 2022 which was up 32% compared to SEK 6.9 million in Q3 2021 and was up 13% from SEK 8.1 million in Q2 2022.
- Total operating expenses for Q3 2022 were SEK 8.8 million down 17% on Q3 2021, and down 28% compared to Q2 2022 costs of SEK 12.3 million.
- EBITDA for the period was negative SEK 2.8 million, an improvement of 58% compared to Q2 2022 of negative SEK 6.7 million and in line with the prior year of negative SEK 2.7 million.
- The Company also launched its new e-commerce website solution just after the end of the Quarter and is already seeing an improvement in its web analytics.
CEO Comments:
This was a transformational quarter for our business as the changes which we began to implement following the
disposal of the bin business started to take effect.
We have successfully been able to reduce costs which has had a very positive impact on our losses compared to prior quarters, with EBITDA having improved by 58% compared to Q2 2022. In my comments in the Q2 report, I stated that we had undergone a review of expenses and identified that we would be able to make savings without material compromise to continuing revenue growth, which I am thrilled we have been able to do.
Key Figures:
Recurring revenues from continuing operations were up 32% on Q3 2021, and up 13% from Q2 2022, reflecting the strong work of the commercial team and a strong seasonal period for the BIGbin business.
Total costs in the third quarter of 2022 were 28% lower than in Q2 2022, despite growth in revenue of 10% and an increase in Gross Profit of 7% in the same period. The Company announced in the Q2 report that it expected significant cost savings to be delivered as part of the reorganization, which has been delivered in Q3 2022.
Please click on the link to read the full report