Swedish digital signage SaaS firm Zeta Display reports revenue increase of 11.6% for the 9 months of 2023

Net sales for the quarter amounted to SEK 115.4 (129.9) million. SaaS revenues were SEK 55.3 (48.4) million and represented 47.9% (37.3%) of net sales. Reported EBITDA was SEK -3.8 (17.2) million. Adjusted for Hanover costs and non- recurring items, EBITDA amounted to SEK 17.4 (21.5) million.

Our third quarter was characterized by a continued growth in SaaS revenues. During the quarter we have successfully concluded the acquisition of PeakMedia Digital Signage GmbH in Austria, expanding our European footprint and supporting our growth ambition in the DACH region. We’ve seen steady activity from our international customer base, but simultaneously noted on-going customer project delays given the market backdrop. We also continued to evolve our organizational structure with positive early results. During the quarter, we have continued to expand our strategic commercial work across the group with enterprise customer development to further scale our international service and product range.

Outlook.

Our long-term plan and investment initiatives for growth are further strengthening our market position. The recent acquisition of PeakMedia will further support both short- and long-term growth. At the same time, we continue to see some uncertainty in the short- term market conditions as well as temporary delays in some customer projects. We’re effectively handling delayed lead times in some customer projects.

As before we continue to actively monitor market development and to manage costs diligently whilst prioritizing key investments for long-term growth and customer focus.
I would like to thank all our co-workers for their tireless commitment and thank our customers for their continued trust as well as thank Per Mandorf as he now steps down and hands over the CEO role.

Malmö, November 30, 2023

Anders Olin

President and CEO

Full Q3 report attached and available on https://ir.zetadisplay.com/

This report has not been subject to review by the company’s auditor.

This information is information that ZetaDisplay AB (publ) is obliged to make public pursuant to the EU Market Abuse Regulation. The information was submitted for publication, through the agency of Anders Olin, at 08.00 CET on 30 November 2023.