JLT Mobile Computers AB (publ) publishes 2023 annual report
April 16 2024 - 2:00AM
JLT Mobile Computers AB (publ) publishes 2023 annual report
Växjö, Sweden, 16 April
2024 * * * JLT Mobile Computers, a leading
supplier of rugged computers for demanding environments, publishes
its 2023 annual report today.
Summary of key figures
- Order intake MSEK 135.4
(165.7)
- Net sales MSEK 158.8 (167.2)
- Operating profit MSEK 1.5
(6.3)
- Profit after
taxes MSEK 1.6 (5.3)
In short
- Overall, order
intake as well as net revenues for the full year was lower compared
to 2022. However, they both recovered during the final quarter of
the year and ended up at higher levels than the fourth quarter the
previous year.
- During the
year, the OEM and port segments increased by more than 60% from the
previous year, compensating for weak demand in the transportation
segment.
- As a result of
this difficult market situation in the transport sector, a large
American transportation company, and a major project customer of
JLT, filed for bankruptcy under Chapter 11 in August. JLT lost
sales of approximately MSEK 15 in 2023. As a result of the
bankruptcy, related service agreements have been recognized as
profit and reported as income of MSEK 3.2. JLT suffered no credit
losses.
- To adapt the
operations to the lower revenues, measures were taken in the second
half of the year to reduce the cost base.
- With the aim of
strengthening competitiveness and growth potential, JLT delivered
on its strategic initiatives:
- Developing JLT
Insights™, a Business Intelligence (BI) solution, to match
competing solutions and create key competitive advantages.
- Android
development for the JLT6012A™ computer with supplementary features
to be launched in early 2024.
- Further progress
of the French subsidiary, which reported a 22% growth for the
year.
- Acquisition of a
minority stake in Australian partner Control Synergy Pty Ltd to
create a base for future expansion in APAC.
- Centralizing the
management function to achieve more effective control and better
use of the company’s existing resources.
- Transfer of the
property for JLT’s headquarters in Växjö, through acquiring the
property company Fjällrenen Fastighets AB from Jan Olofsson, to
develop the premises in line with the needs of the operations and
reduce costs.
- The company is
actively engaged in gradually reducing the inventory levels that
increased during the global component shortage in 2021 and
2022.
- The operations
have been adapted to the prevailing market situation to position
the company for market recovery and achieve long-term growth and
profitability targets.
The full interim report is attached to this
press release and available for download at the company’s website,
jltmobile.com. Printed copies can be requested over email to
investor@jltmobile.com, by phone: +46 470 53 03 00, or by mail to
the following address:
JLT Mobile Computers AB (publ)Isbjörnsvägen 3352
45 Växjö, SWEDEN
Additional financial information is available
online on JLT’s investor pages.
Reader
Enquiries JLT Mobile Computers Group |
Press
Contact |
Certified
Adviser |
Per Holmberg, CEO |
pr@jltmobile.com |
Eminova Fondkommission AB |
Tel.: +46 70 361 3934 |
|
Tel.: +46 08 684 211
10 |
per.holmberg@jltmobile.comwww.jltmobile.com |
|
adviser@eminova.sewww.eminova.se |
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. Almost 30 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, France, 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 jltmobile.com.