Bahnhof (BAHN) Q4 2016 earnings summary

Executive summary

• 2016 revenue rose to SEK 824.2m from SEK 649.1m; operating profit increased to SEK 97.4m from SEK 83.3m, and net profit to SEK 71.1m from SEK 64.5m.

• Broadband customers in the private market reached 246,324 households at year-end, up from 207,767; employee count averaged 199 versus 147.

Financial highlights

• Revenue was SEK 824.2m versus SEK 649.1m; total operating income was SEK 828.3m versus SEK 650.8m.

• Operating profit was SEK 97.4m versus SEK 83.3m; profit before tax was SEK 96.6m versus SEK 82.7m.

• Net profit was SEK 71.1m versus SEK 64.5m; income tax expense rose to SEK 25.5m from SEK 18.2m.

• Operating cash flow was SEK 96.8m versus SEK 142.2m; cash and cash equivalents ended the year at SEK 142.4m versus SEK 157.3m.

Outlook and guidance

• 2017 forecast: revenue of SEK 1,000m and operating profit of SEK 110m; product development and recruitment planned to support rising demand.

• Northern Light backbone investment of approximately SEK 100m was underway across 2016 and early 2017; the new network entered service on March 31, 2017.