JLT Mobile Computers AB (publ) publishes 2023 annual

Växjö, Sweden, 16 April 2024 * * * JLT Mobile Computers, a leading supplier of rugged computers for demanding environments, publishes its 2023 annual report today.

Summary of key figures

• Order intake MSEK 135.4 (165.7)
• Net sales MSEK 158.8 (167.2)
• Operating profit MSEK 1.5 (6.3)
• Profit after taxes MSEK 1.6 (5.3)

In short

• Overall, order intake as well as net revenues for the full year was lower compared to 2022. However, they both recovered during the final quarter of the year and ended up at higher levels than the fourth quarter the previous year.
• During the year, the OEM and port segments increased by more than 60% from the previous year, compensating for weak demand in the transportation segment.
• As a result of this difficult market situation in the transport sector, a large American transportation company, and a major project customer of JLT, filed for bankruptcy under Chapter 11 in August. JLT lost sales of approximately MSEK 15 in 2023. As a result of the bankruptcy, related service agreements have been recognized as profit and reported as income of MSEK 3.2. JLT suffered no credit losses.
• To adapt the operations to the lower revenues, measures were taken in the second half of the year to reduce the cost base.
• With the aim of strengthening competitiveness and growth potential, JLT delivered on its strategic initiatives:
  • Developing JLT Insights, a Business Intelligence (BI) solution, to match competing solutions and create key competitive advantages.
  • Android development for the JLT6012A computer with supplementary features to be launched in early 2024.
  • Further progress of the French subsidiary, which reported a 22% growth for the year.
  • Acquisition of a minority stake in Australian partner Control Synergy Pty Ltd to create a base for future expansion in APAC.
  • Centralizing the management function to achieve more effective control and better use of the company’s existing resources.
  • Transfer of the property for JLT’s headquarters in Växjö, through acquiring the property company Fjällrenen Fastighets AB from Jan Olofsson, to develop the premises in line with the needs of the operations and reduce costs.
• The company is actively engaged in gradually reducing the inventory levels that increased during the global component shortage in 2021 and 2022.
• The operations have been adapted to the prevailing market situation to position the company for market recovery and achieve long-term growth and profitability targets.

The full interim report is attached to this press release and available for download at the company’s website, jltmobile.com. Printed copies can be requested over email to investor@jltmobile.com, by phone: +46 470 53 03 00, or by mail to the following address:

JLT Mobile Computers AB (publ)
Isbjörnsvägen 3
352 45 Växjö, SWEDEN

Additional financial information is available online on JLT’s investor pages.

About JLT Mobile Computers

Reliable performance, less hassle. JLT Mobile Computers is a leading supplier of rugged mobile computing devices and solutions for demanding environments. Almost 30 years of development and manufacturing experience have enabled us to set the standard in rugged computing, combining outstanding product quality with expert service, support and solutions to ensure trouble-free business operations for customers in warehousing, transportation, manufacturing, mining, ports and agriculture. JLT operates globally from offices in Sweden, France, and the US, complemented by an extensive network of sales partners in local markets. The company was founded in 1994, and the share has been listed on the Nasdaq First North Growth Market stock exchange since 2002 under the symbol JLT. Eminova Fondkommission AB acts as Certified Adviser. Learn more at jltmobile.com.