MANAGING CHALLENGES WHILE ACHIEVING PROGRESS

THIRD QUARTER 2023

  • Net sales totalled MSEK 12,4 (19,0), a change of MSEK -6,6 / -35 %
  • EBITDA was MSEK -3,0 (0,3), a change of MSEK -3,3
  • EBIT was MSEK -5,8 (-1,9), a change of MSEK -3,9
  • Net earnings were MSEK -6,5 (-2,0), a change of MSEK -4,5
  • Net earnings per share amounted to SEK -0,12 (-0,05)

Adjusted *

  • EBITDA was MSEK -0,4 (0,3), a change of MSEK -0,7
  • EBIT was MSEK -3,1 (-1,9), a change of MSEK -1,2
  • Net earnings were MSEK -3,9 (-2,0), a change of MSEK -1,9
  • Net earnings per share amounted to SEK -0,07 (-0,05)

JANUARY – SEPTEMBER 2023

  • Net sales totalled MSEK 42,6 (53,1), a change of MSEK -10,5 / -20 %
  • EBITDA was MSEK -10,2 (0,5), a change of MSEK -10,7
  • EBIT was MSEK -18,0 (-5,8), a change of MSEK -12,2
  • Net earnings were MSEK -18,9 (-6,2), a change of MSEK -12,7
  • Net earnings per share amounted to SEK -0,41 (-0,16)

Adjusted *

  • EBITDA was MSEK -7,5 (0,5), a change of MSEK -8,0
  • EBIT was MSEK -15,4 (-5,8), a change of MSEK -9,6
  • Net earnings were MSEK -16,2 (-6,2), a change of MSEK -10,0
  • Net earnings per share amounted to SEK -0,35 (-0,16)
Jul-Sep 2023 Jul-Sep 2022 Jan-Sep 2023 Jan-Sep 2022 Jan-Dec 2021
Net sales, kSEK 12 364 19 005 42 589 53 058 70 416
EBITDA, kSEK -3 034 268 -10 161 531 621
Adjusted EBITDA, kSEK *   -392 – -7 519 – –
EBIT, kSEK   -5 786 -1 927 -18 038 -5 810 -8 140
Adjusted EBIT, kSEK *   -3 144 – -15 396 – –
Net earnings, kSEK -6 510 -2 029 -18 891 -6 206 -8 768
Adjusted net earnings, kSEK *   -3 868 – -16 249 – –
Net earnings per share, SEK   -0,12 -0,05 -0,41 -0,16 -0,22
Adjusted net earnings per share, SEK *   -0,07 – -0,35 – –

* Adjusted figures have been recalculated by adjusting for items affecting the comparability of the company’s figures. The adjustments amount to kSEK 2 642 (0) during the third quarter of 2023. For more information, refer to the interim report.

 EVENTS DURING THE QUARTER

  • Westpay implemented a cost savings program to drive positive financial results.
  • Westpay has resolved on issues of shares amounting to approximately MSEK 8.5.
  • PayEx, one of the leading card acquirers in the Nordics under the brand Swedbank Pay, and Westpay signed a 3-year agreement, where Westpay receives transaction revenues for providing merchant payment services.

EVENTS AFTER THE END OF THE QUARTER

  • Nordia Payment Service AS, a leading Norwegian point of sales (POS) provider, has selected Westpay as strategic payment solutions partner. The contract value of the 4-year agreement exceeds MSEK 50.
  • Westpay has negotiated and reached an agreement with a customer for settling of the total accrued overdue balance, resulting in a confirmed receivable loss of MSEK 2.6 in Q3 2023.

For more information about news and events: https://investor.westpay.se/financial-reports/

Download Press Release

For additional information, please contact:

Sten Karlsson, CEO Westpay AB
Mobile: +46 70-555 6065
Email: sten.karlsson@westpay.se