During the second quarter, as in the first one, we have seen a strong demand for our products and continued to win several new customers. As a result, we have gained more new customers in these 6 months of 2022 than we did in the whole of 2021. In
Being a Swedish supplier, with production in
Revenue during the quarter increased by 11% to MSEK 29 (MSEK 26 for the same period last year), and operating profit was MSEK 5.3 (MSEK 6.3) with an operating margin of 18% (24%), and a negative cash flow of MSEK 11.5. For the first 6 months of the year, sales increased by 15% to MSEK 54 (MSEK 47), operating profit was MSEK 9.5 (MSEK 12.2), with an operating margin of 18% (26%), and a negative cash flow of MSEK 3.
Both sales growth and operating profit are an effect of our ongoing investments in sales, marketing and product development. They are completely in line with our financial targets. It is precisely these investments that form the foundation of our growth, and they are gradually bearing fruit. We will continue to invest in our focus on profitable growth by continuing to expand our sales, marketing/communications and product teams to meet demand. I expect that we will continue to develop positively in the coming years.
During the quarter and the first half of the year, we have had a negative cash flow, but it has been within expectations and linked to a couple of parameters:
- We have a larger inventory at the turn of June-July than before, which is a planned investment to be able to take on new customers.
- We have made advance payments to our subcontractors for components, in order to increase our production rate in the second half of the year, and thus be able to further increase revenue.
- We had a large portion of our sales at the end of the quarter, which has led to an increase in accounts receivable.
The fact that we at
Sustainability is one of our long-term focus areas at
Please visit our website and read more about this.
This spring, we have participated in several industry-related conferences and fairs, in
The global component shortage continues and we continue to work on minimising its impact on us and our customers. We expect the current situation to continue through 2022, and all of 2023. Despite a pandemic, war and component shortages, we have managed to maintain a good production rate in the first half of the year, and we expect to be able to increase production in the second half of 2022. As previously communicated, we initiated work last summer to increase the production rate, and now our subcontractors are starting to receive the necessary components that are needed for it. As a result, we have made more advance payments than before to our subcontractors, as they cannot act as our banks. This is fully in line with our expectations, plans and budget.
We continue to have a record order backlog, and our hope is that in the second half of 2022, and in the first half of 2023, with the increased production rate, we can meet our customers' requests and deliver more access switches to the waiting market.
I wish you all a great summer!
https://news.cision.com/waystream-holding-ab/r/ceo-statement,c3599015
https://news.cision.com/waystream-holding-ab/i/fredrik-lundberg-ceo-waystream,c3069614
(c) 2022 Cision. All rights reserved., source