November 23, 2018
REPORT JANUARY – SEPTEMBER 2018
- Net Sales in the period amounted to MSEK 89 (147) and Net Sales for the quarter were MSEK 28 (52).
- Operating Profit in the period was MSEK -11 (-21) and Operating Profit for the quarter was MSEK -13 (4)
- The decline in Net Sales is primarily attributable to Forms customers timing their pen orders to coincide with the availability of enterprise quantities of the new Anoto pen (AP-701). In addition, Anoto’s pricing policy change in the Forms business has also contributed to this deferral of revenue. The new model lowers upfront hardware costs and establishes recurring revenue streams associated with hardware, software, and Anoto’s proprietary microdot pattern.
- This pricing model transition required us to turn down numerous renewal requests based on the old pricing scheme with an unavoidable impact on revenue but the Group expects a substantial increase in revenue in coming quarters with lift provided by rapid adoption of the new pen and broad acceptance of the strategically sound new pricing policy.
- While year-over-year Net Sales for the period decreased by MSEK 58, the Group made a decrease in operating loss of MSEK 11 (21) due to higher gross margins and lower operating costs.
- Gross margin in the period increased to 51% (40%) as a result of better margins in the Notetaking business.
- Overhead costs in the period were MSEK 56, down from the prior year (MSEK 79), due to the restructuring and cost-reduction efforts across all operations.
Calendar 2018
Q4 Report – 28 February, 2019
Please visit www.anoto.com/investors for the latest investor calendar information.
For more information
Please contact:
Joonhee Won, CEO
Email: ir@anoto.com
Anoto Group AB (publ.), Corp. Id. No. 556532-3929
Flaggan 1165
116 74 Stockholm, Sweden
www.anoto.com
This information is information that Anoto Group AB (publ) is obliged to make public pursuant to the EU Market Abuse Regulation and the Securities Markets Act. The information was submitted for publication, through the agency of the contact person set out above, at 08:45 CET on 23 November 2018.
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