Q3 2024 Enea AB Earnings Call Transcript
Key Points
- Enea AB (LTS:0RP6) reported double-digit growth in its core areas, achieving 11% organic growth in focused business areas over the first nine months of 2024.
- The company signed a significant $17.7 million contract for its Stratum product, with a potential value of $21 million over three years, marking one of the largest deals in its history.
- Enea AB (LTS:0RP6) experienced a 67% year-on-year increase in security solutions license revenues, driven by upgrades and expansions.
- The company maintains a strong position in traffic management and cybersecurity, optimizing over 1 billion subscribers daily and processing 3 billion messages a day.
- Enea AB (LTS:0RP6) continues to innovate by integrating AI-based traffic congestion management and expanding its product offerings, contributing to new deals and market opportunities.
- The company reported only 3% organic growth in Q3, indicating a slowdown compared to the nine-month period.
- Total revenues for Q3 decreased slightly to 217 million from 221 million the previous year.
- There were variations in professional service revenues due to project milestones, affecting overall financial stability.
- The company faced a negative financial net impact due to unrealized currency adjustments, affecting profit before tax.
- Cash flow from operations was lower than expected, partly due to currency effects and a buildup of working capital in accounts receivable.
Thank you so much. Good morning everyone. And thank you for giving me this opportunity to walk you through our Q3 numbers.
We will follow the agenda that we normally follow in these calls, short intro to the company and discuss our financial results and then discuss way forward and outlook .With me here I have Ulf Stigberg our CFO and he will take you through the financial numbers, so he will speak a bit later. But let me start by discussing where we are now as a company. So the vision of an E I is to make the world's communication safer and more efficient. And that's a vision very much shaped by the journey we've been on for the last many years, especially what happened in the last '10 years has added a lot of capabilities and skills to the company, especially when it comes to telecom application and cybersecurity software. That has formed a unique cyber security, and telecom portfolio that is unparalleled anywhere else and this is what is underscoring the opportunities we have to reach that vision over the years to come.
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