Update: Imint Q4'22
Imint reported a year-on-year decrease in revenue, EBIT, and profits, and the report fell short of our estimates.
Net sales decreased by 28,2 % to 12,2 MSEK (17,0) for the quarter but increased to 64,1 MSEK (63,2) for the full year. EBIT decreased to -0,9 MSEK (3,3) for the quarter, and to 8,6 MSEK (16,1) for the full year. The profit decreased to -1,2 MSEK (5,7) for the quarter, and to 13,8 MSEK (20,1) for the full year.
EBIT and profits are down 46,6 % and 31,3 % for the year, but on a more positive note, revenue is up 1,4 % for the full year of 2022.
The reason for the weaker report is primarily a weaker global demand for smartphones, with volumes down almost 20 % compared to Q4’21 according to the CEO.
We have adjusted our estimates downward somewhat but maintain our long-term positive view of the company.