Net Insight - Turnaround completed
Adj. EBIT + 23% vs. ABGSCe New strategy yielding results More still lies ahead Q2 details Sales SEK 94. 1m (0% vs ABGSC 94.
5m), adj. EBIT SEK 9. 0m (+23% vs ABGSC 7.
3m), PTP SEK 7. 5m (+20% vs ABGSC 6. 3m).
Growth in the quarter was impacted by FX effects. Adjusted for FX, NETI saw 12. 4% growth in Q2’21.
New strategy starting to yield meaningful results NETI continued to deliver on its strategy, which has started to yield meaningful results. Impressively, it managed to reduce opex by 28% while growing sales by 12%, resulting in a solid beat on EBIT. The company has clarified its offering of IP and cloud solutions and strengthened its organisation through rationalisation and clearer priorities.
The last part of streamlining the business was the divestment of ScheduALL which was divested in Q1. More still lies ahead As we expected, sales came back as customers continued to invest in their media networks after a soft 2020 where many customers postponed network investments. With adoption of IP and cloud services continuing, we still believe there to be significant potential for NETI’s solutions.
