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- Quarterly revenues up 2.3% year-over-year to EUR 170.2 million
- Pro forma EBIT at EUR 12.1 million (7.1% of revenues)
Adtran Networks SE ADVOFADV)), a leading provider of open networking solutions for the delivery of cloud and mobile services, reported financial results for the second quarter 2023 ended on June 30, 2023. The results have been prepared in accordance with International Financial Reporting Standards (IFRS).
Q2 2023 financial summary1
|
(in thousands of EUR) |
Q2 |
Q2 |
Change |
Q1 |
Change |
|
|
|
2023 |
2022 |
|
2023 |
|
|
|
|
||||||
|
Revenues |
170,188 |
166,320 |
2.3% |
179,358 |
-5.1% |
|
|
Pro forma gross profit |
60,232 |
54,336 |
10.9% |
58,371 |
3.2% |
|
|
in % of revenues |
35.4% |
32.7% |
2.7pp |
32.5% |
2.8pp |
|
|
Pro forma EBIT |
12,092 |
6,435 |
87.9% |
9,730 |
24.3% |
|
|
in % of revenues |
7.1% |
3.9% |
3.2pp |
5.4% |
1.7pp |
|
|
Operating income2 |
8,033 |
4,655 |
72.6% |
6,227 |
29.0% |
|
|
Net income |
3,288 |
7,291 |
-54.9% |
3,627 |
-9.3% |
|
|
|
||||||
|
(in thousands of EUR) |
Jun. 30 2023 |
Jun. 30 2022 |
Change |
Mar. 31 2023 |
Change |
|
|
Cash and cash equivalents |
48,595 |
63,187 |
-23,1% |
67,241 |
-27.7% |
|
|
Net cash (+) / Net debt (-)3 |
-33,457 |
-946 |
-3,436.7% |
-24,296 |
-37.7% |
|
|
1 Potential difference due to rounding |
|
2 Q2 2023 including EUR 1.7 million, Q1 2023 including EUR 1.6 million and Q2 2022 including EUR 0.4 million extraordinary expenses |
|
3 Q2 2023 including EUR 53.0 million and Q1 2023 Including EUR 62.0 million financial liabilities to Adtran Holdings, Inc. |
Q2 2023…
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