Profits and revs in sync for Net Insight Q3
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Joseph O'Halloran
| 09 November 2021
Media delivery and transport provider Net Insight has reported a strong third quarter of the year, turning losses at the same time in the previous year into solid profits and seeing sales rise by significant amounts on a yearly basis both for the third quarter and for the nine months of 2021 to date.
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For the July – September 2021 period, the company reported net sales amounted of SEK 100.8 million $11.77), an increase of 30.6% year-on-year. In comparable currencies net sales increased by 34.1%. Operating earnings amounted to SEK 11.8 (-million, turning around a loss of SEK 4.1 million at the corresponding period of 2020. Excluding foreign exchange rate differences of SEK -0.2 (0.1) million, operating earnings were SEK 12.0 million, a figure which was a los off 4.2 million a year ago, while net income for the period for continuing operations was SEK 10.1 million, compared with a loss of SEK 3.9 at the end of Q3 2020.

For the nine months to 30 September 2021, Net insight reported Net sales of SEK 272.8 million, an increase of 13.0% year-on-year. In comparable currencies net sales increased by 19.5%. Operating earnings amounted to SEK 23.5 million. This compared with a loss of SEK 900,000 for the first nine months of 2020. Excluding foreign exchange rate differences of SEK 8.2 million, operating earnings were SEK 15.3 million, turning a loss of SES 2.8 million for the first three quarters of 2020.

Commenting on the third quarter results, Net Insight CEO Crister Fritzson noted that Q3 2021 was Q3 was the company’s strongest in terms of All regions exceeded last year’s sales figures, contributing to the increase, alongside increased sales for the Aperi portfolio. Looking back, our customers’ investment appetite increased gradually in the first nine months of the year. Q3 2021 was the fourth consecutive quarter of year-on-year growth.

Revenue was derived from continuous orders from many different customers in the quarter. This is a sign of strength. For example, we received orders from customers that extended existing media networks, but also from customers that won rights to new sporting events.”