Zinzino Third Quarter Revenue Rises 11 Percent and Lifts Profit Forecast

Zinzino reported third quarter group revenue of 313.6 million Swedish kronor, up 11 percent from 281.8 million kronor. Gross profit was 107.5 million kronor, a margin of 34.3 percent, up from 28.8 percent. EBITDA was 40.4 million kronor, up from 28.8 million kronor, and the EBITDA margin was 12.9 percent, up from 10.2 percent. Operating cash flow was 23.5 million kronor.

The board raised the expected full-year EBITDA margin by one percentage point, to a range of 9 percent to 12 percent. It trimmed the revenue outlook and said full-year revenue should exceed 1,300 million kronor, compared with 1,139 million kronor in 2020, citing slower growth in the second half against a strong 2020 comparison. For the first nine months, revenue was 969.4 million kronor, up 21 percent, and cash was 182.9 million kronor.

The report said Taiwan reached full market status during the quarter. Chief executive Dag Bergheim Pettersen was the disclosure contact. The interim report was released at 08:00 on November 19, 2021.