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MarketScreener Homepage  >  Equities  >  NASDAQ OMX HELSINKI LTD.  >  Qt Group Oyj    QTCOM   FI4000198031

QT GROUP OYJ

(QTCOM)
  Report
Delayed Quote. Delayed NASDAQ OMX HELSINKI LTD. - 01/15 11:29:56 am
57.4 EUR   -5.28%
01/08QT OYJ : Simplify Your Development Toolset with Qt for Everything from MCUs to Desktop PCs
PU
01/07QT OYJ : at Virtual CES 2021
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01/04QT GROUP PLC : Share subscriptions based on stock options 2016
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Qt Oyj : Q2 2020

08/07/2020 | 04:29am EST

Q2 2020

Strong growth in net sales continued, EBIT also grew substantially

7.8.2020 Juha Varelius, President and CEO

Contents

  1. Key messages Q2 2020
  2. Financials
  3. Outlook 2020
  4. Qt World Summit Online

2

6 August 2020

© The Qt Company

Key messages Q2 2020

Net sales growth continues

  • Net sales grew despite of the uncertainty caused by COVID-19
    • Q2 net sales EUR 18 million, growth of 29%
    • H1 net sales EUR 36 million, growth of 36%
  • Strong growth in all regions
  • H1 performance provides a solid position for achieving full year 2020 targets and further executing on the growth strategy

Quarterly net sales

70

Revenue by Quarter

60

50

Q4

40

Q3

30

Q2

20

Q1

10

0

2017

2018

2019

2020

Operating result positive

Headcount growth in APAC

Operating result was positive

› Q2 EUR 3 620 thousand (714)

› H1 EUR 5 794 thousand (195)

COVID-19 has caused some delays to growth

investments

Growth investment focus on expanding our

sales and consulting network

› Headcount increase primarily in APAC

400

350

300

250

200

150

100

50

0

Number of employees (average)

323

180 197

92 96

51 51

344

› Number of personnel at the end of H1 was 351 (331)

› Positive operating result expected in 2020

Finland

Rest of Europe &

North America

Qt Group Total

APAC

1-6 2019

1-6 2020

New Product Releases

Qt 5.15 LTS released in May

  • The last release of the Qt 5 series and a stepping stone towards Qt 6
  • Provides long-term support for three years to all commercial license holders, including the new Qt for Small Business
  • Most significant changes are on the graphics side

Qt Design Studio 1.5 released in May

  • Comes with a fully supported 3D editor
  • This is the first time we have a one unified designing tool that supports both 2D and 3D

Qt for MCUs 1.2 released in June

  • Easier reuse of QML code across all the platforms that Qt supports, from microcontrollers to mobile devices, to desktop

6

6 August 2020

© The Qt Company

Financials

Strong revenue growth in Q2 and H1

EUR 1,000

4-6/2020

4-6/2019

Change, %

1-6/2020

1-6/2019

Change, %

1-

12/2019

License sales and

13,002

9,630

35.0 %

26,407

18,164

45.4 %

40,503

consulting

Maintenance

5,079

4,365

16.4%

10,030

8,602

16.6 %

17,870

revenue

Group total

18,081

13,995

29.2 %

36,437

26,766

36.1 %

58,373

  • Q2 revenue grew by 29.2 % driven by strong license sales and consulting.

8

6 August 2020

© The Qt Company

H1 2020 Income statement

Consolidated income statement

M€

1-6/20201-6/2019

Net sales

36,4

26,8

Other operating income

0,4

0,5

Materials and services

-2,3

-1,2

Personnel expenses

-20,7

-18,4

Depreciation, amortization and

-1,3

-1,2

impairment

Other operating expenses

-6,7

-6,3

Operating result

5,8

0,2

Financial expenses (net)

-0,2

-0,1

Profit before taxes

5,6

0,1

Income taxes

-1,2

-0,1

Net profit for the review

4,4

0,0

period

  • Strong growth continues in all geographical regions
  • Implementation of growth strategy continues despite COVID-19
    • COVID-19causes some recruitment delays
  • Profitability
    • Operating result positive driven by strong top line
    • Q2 includes EUR 0.2 million (0.4) R&D grant in other operating income

H1 2020 Balance Sheet

Consolidated Balance Sheet

M€

30 June,

31 December,

2020

2019

Non-current assets

17,4

19,0

Current assets

Trade receivables

13,5

13,8

Other receivables

6,3

5,3

Cash and cash equivalents

18,0

11,9

Total current assets

37,9

31,0

Total assets

55,3

50,0

Total equity

21,9

16,9

Total long-term liabilities

4,5

4,6

Short-term liabilities

Interest-bearing liabilities

1,7

1,6

Other short-term liabilities

27,2

26,8

Total short-term liabilities

28,9

28,4

Total equity and liabilities

55,3

50,0

  • Current assets
    • Trade receivables at end last year's level, no significant, individual risk exposure
    • Solid cash position
  • Equity
    • Net profit of review period +4.4M€, share subsriptions +2.4M€ (option scheme), purchase of own shares -2.1M€ (Management LTI program)
  • Short-termliabilities
    • Slight growth in advances received

Outlook 2020

Outlook 2020

  • The company keeps its outlook unchanged and estimates that net sales in 2020 will increase by more than 20 percent year-on- year at comparable exchange rates and that the operating result will be positive in 2020.

12

6 August 2020

© The Qt Company

Qt World Summit Online

Qt World Summit Online

22 October, 2020 (Will be run twice; on EMEA/APAC timezone and US timezone)

Join the first immersive 3D Qt World Summit!

Fly your avatar to Palm Springs to a half day event with almost 20 talks on software development & UI design.

qt.io/qtws20

14

6 August 2020

© The Qt Company

Thank you!

Qt Developer

Accelerator

Get in touch with us pr@qt.io

Disclaimer

Qt Group Oyj published this content on 07 August 2020 and is solely responsible for the information contained therein. Distributed by Public, unedited and unaltered, on 07 August 2020 08:28:16 UTC


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Financials
Sales 2020 75,1 M 90,6 M 90,6 M
Net income 2020 10,9 M 13,1 M 13,1 M
Net cash 2020 19,1 M 23,0 M 23,0 M
P/E ratio 2020 129x
Yield 2020 -
Capitalization 1 413 M 1 709 M 1 706 M
EV / Sales 2020 18,6x
EV / Sales 2021 14,8x
Nbr of Employees 348
Free-Float 64,9%
Chart QT GROUP OYJ
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Qt Group Oyj Technical Analysis Chart | QTCOM | FI4000198031 | MarketScreener
Technical analysis trends QT GROUP OYJ
Short TermMid-TermLong Term
TrendsNeutralBullishBullish
Income Statement Evolution
Consensus
Sell
Buy
Mean consensus BUY
Number of Analysts 3
Average target price 52,77 €
Last Close Price 57,40 €
Spread / Highest target 11,5%
Spread / Average Target -8,07%
Spread / Lowest Target -21,6%
EPS Revisions
Managers and Directors
NameTitle
Juha Pekka Varelius Chief Executive Officer
Carl Robert Ingman Chairman
Mika Harjuaho Chief Financial Officer
Tuukka Turunen Senior Vice President-Research & Development
Leena Maria Saarinen Independent Director
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