ZetaDisplay initiates refinancing process regarding its senior unsecured bonds first callable on 20 December 2022 and publishes financial performance for Q3 2022
November 07 2022 - 2:00AM
ZetaDisplay initiates refinancing process regarding its senior
unsecured bonds first callable on 20 December 2022 and publishes
financial performance for Q3 2022
NOT FOR DISTRIBUTION IN OR INTO OR TO
ANY PERSON LOCATED OR RESIDENT IN THE UNITED STATES, ITS
TERRITORIES AND POSSESSIONS, OR FOR THE ACCOUNT OR BENEFIT OF, U.S.
PERSONS (AS DEFINED IN REGULATION S UNDER THE U.S. SECURITIES ACT
OF 1933) OR IN OR INTO ANY OTHER JURISDICTION WHERE SUCH
DISTRIBUTION WOULD BE PROHIBITED BY APPLICABLE LAW
ZetaDisplay initiates refinancing
process regarding its senior unsecured bonds first callable on 20
December 2022 and publishes financial performance for Q3
2022
Stockholm, 7 November 2022
ZetaDisplay AB (publ) has mandated ABG Sundal
Collier AB to arrange a series of fixed income investor meetings
commencing on 8 November 2022.
The meetings will be used to discuss a potential
issue of SEK denominated senior secured callable floating rate
bonds in an amount up to SEK 400 million with a tenor of four
years, subject to, inter alia, market conditions, and alternatives
to handle the maturity of ZetaDisplay’s existing unsecured
bonds.
The net proceeds from a new bond issue will,
inter alia, be applied towards repayment in full of ZetaDisplay’s
existing unsecured bonds (ISIN: SE0013109568) with maturity on 20
March 2023.
In connection with and subject to a successful
issue, ZetaDisplay may offer holders of its existing unsecured
bonds the option to exchange their current holding for new secured
bonds upon issuance at a price to be determined in connection with
the pricing of the new issue. The unsecured bonds repurchased in
the exchange offer will be cancelled.
Subject to a successful issue, ZetaDisplay will
give a notice of voluntary early redemption of all existing
unsecured bonds which are not exchanged for new secured bonds, with
redemption on its first call date, 20 December 2022. The redemption
proceeds including accrued interest will be placed on an account
and pledged for the remaining unsecured bonds.
Any existing bondholder who may have an interest
in exchanging their current holding for new bonds may contact ABG
Sundal Collier AB at telephone no: +46 (0) 8 566 286 40 or by
email: dcm-syndicate@abgsc.se.
In connection with the refinancing process,
ZetaDisplay sets out below an update on its financial performance
for Q3 2022.
Key unaudited consolidated financial
information for the three months ended 30 September
2022:
- Net sales increased by 27.8% y-o-y and amounted to SEK 129.9
(101.6) million, with SaaS revenues experiencing a y-o-y growth of
8.9% and amounted to SEK 48.4 (44.5) million. Total revenues grew
by 25.5% y-o-y and amounted to SEK 133.7 (106.5) million
- Annual Recurring Revenues, as presented in the financial
reports, experienced a growth of 2.3% q-o-q and amounted to SEK
192.2 (187.9) million, highlighting the continued increase in
ZetaDisplay’s recurring revenue base
- EBITDA amounted to SEK 17.2 (13.2) million. Adjusted for
non-recurring items as presented in the financial reports, EBITDA
amounted to SEK 17.2 (24.0) million. Reported EBITDA figures
include costs associated with strategic and operational initiatives
which are anticipated will benefit the business in the future.
Adjusted for these extraordinary costs, EBITDA to amount to SEK
66.9 million on a rolling twelve month-rolling basis
- Gross interest-bearing debt amounted to SEK 320.1 million and
cash and cash equivalents amounted to SEK 41.4 million
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 the contact person set out below, at 08.00 CET on 7
November 2022.
For further information please contact:
Per Mandorf, President & CEOMobile: +46
704-25 82 34E-Mail: per.mandorf@zetadisplay.com
Michael van Straten,
CFOMobile: +45-538-482
83E-Mail: michael.vanstraten@zetadisplay.com
Robert Bryhn, CMO / Head of
CommunicationMobile: +46 709-80 20
80E-Mail: robert.bryhn@@zetadisplay.com
About ZetaDisplay
ZetaDisplay is a leader in the Nordic region and second in
Europe and we drive the digital transformation in physical
environments on a daily basis. Our solutions, concepts and software
digitize, influence and inform people's behavior at the time of
decision-making in stores, in public environments and in
workplaces. Our solutions are known as Digital Signage which we
develop and offer as SaaS solutions. We are a global leader that
actively influences the development of the international Digital
Signage market organically, through innovation and through
acquisitions.ZetaDisplay is based in Malmö, has a turnover of
approximately SEK +500 million and employs 220 employees in offices
in six European countries. In total, the company manages over
80,000 installations in more than 50 markets. ZetaDisplay is owned
by the British investment company Hanover Investors. More
information at www.ir.zetadisplay.com
and www.hanoverinvestors.com
- Bond Re-financing and Financial performance for Q3 2022
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