JLT Mobile Computers AB (publ) publishes interim report for January–September 2023
Växjö, Sweden, 27 October 2023 * * * JLT Mobile Computers, a leading supplier of rugged computers for demanding environments, publishes interim report for January–September 2023 today.
Summary of key figures
- Order intake MSEK 78.9 (112.5)
- Net sales MSEK 117.0 (126.9)
- Operating profit MSEK -2.6 (5.1)
- Profit after taxes MSEK -2.0 (3.8)
- The result for the period is affected by current economic conditions dampening the demand, particularly in the warehousing and transportation sector in the American market. This is also reported by other leading companies in the industry.
- A significant project client for JLT filed for Chapter 11 bankruptcy in August. Anticipated deliveries in the project of approximately MSEK 15 in 2023 and 2024 will not be realized. Fortunately, the bankruptcy has not resulted in any credit losses for JLT.
- Cost control has been tightened and a reorganization has been made in order to increase efficiency and create a stronger focus on growth.
- Inventory levels were proactively increased during the component shortage, the decreased demand in 2023 and longer lead times for components have led to further increases. Efforts are now underway to actively reduce inventory levels gradually. Currently, there is no significant risk of obsolescence.
- The decline in orders is believed to be a result of current economic macro conditions; increased growth and improved profitability are anticipated as target markets recover.
The full interim report is attached to this press release and available for download at 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 persons set out below, at 08:00 pm CET on Friday, October 27, 2023.
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JLT Mobile Computers Group
|Per Holmberg, VD||PRismaPR, Monika Cunnington||Eminova Fondkommission AB|
|Tel.: +46 70 361 3934||Tel.: +44 20 8133 6148||Tel.: +46 08 684 211 10|
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.