Westpay

FOURTH QUARTER 2023
· Net sales totalled MSEK 18,5 (17,4), a change of MSEK +1,1 / +7 %
· EBITDA was MSEK 1,3 (0,1), a change of MSEK +1,2
· EBIT was MSEK -1,7 (-2,3), a change of MSEK +0,6
· Net earnings were MSEK -8,7 (-2,6), a change of MSEK -6,1
· Net earnings per share amounted to SEK -0,15 (-0,06)
 
Adjusted *
· EBITDA was MSEK 1,3 (0,1), a change of MSEK +1,2
· EBIT was MSEK -1,7 (-2,3), a change of MSEK +0,6
· Net earnings were MSEK -2,1 (-2,6), a change of MSEK +0,5
· Net earnings per share amounted to SEK -0,04 (-0,06)
 
JANUARY – DECEMBER 2023
· Net sales totalled MSEK 61,1 (70,4), a change of MSEK -9,3 / -13 %
· EBITDA was MSEK -8,9 (0,6), a change of MSEK -9,5
· EBIT was MSEK -19,7 (-8,1), a change of MSEK -11,6
· Net earnings were MSEK -27,6 (-8,8), a change of MSEK -18,8
· Net earnings per share amounted to SEK -0,56 (-0,22)
 
Adjusted *
· EBITDA was MSEK -6,2 (0,6), a change of MSEK -6,8
· EBIT was MSEK -17,1 (-8,1), a change of MSEK -9,0
· Net earnings were MSEK -18,3 (-8,8), a change of MSEK -9,5
· Net earnings per share amounted to SEK -0,37 (-0,22)
 

 * 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) and kSEK 6 634 (0) during the third and fourth quarters of 2023, respectively. For more information, refer to the year-end report.
 
EVENTS DURING THE QUARTER
· Nordia Payment Service AS, a leading Norwegian point of sales (POS) provider, has selected Westpay as strategic payment solutions partner.
· 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.
· Westpay has resolved on direct issues of shares and convenes an extraordinary general meeting to resolve on reduction of share capital.
 
EVENTS AFTER THE END OF THE QUARTER
· At an extraordinary general meeting on January 15, it was decided to issue a directed share issue of SEK 4 million and a reduction of the share capital from SEK 14.4 million to SEK 2.1 million.
· In accordance with accounting principles, the company has chosen to write down the deferred tax asset. This decision reflects Westpay's commitment to transparent financial reporting. It is important to note that Westpay retains the right to future tax deductions through loss carryforwards. The write-down is solely an accounting matter, which does not affect Westpay's cash flow or its future right to utilize existing loss carryforwards.

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