Cinnober Posts Yearly Operating Loss of $11.49M, Despite Improved Net Sales
Posted: Wed Feb 21, 2018 10:39 am
Cinnober Financial Technology AB has released its year-end financial report for 2017. Cinnober is Sweden-headquartered provider of exchange clearing technology, offering services to global stock exchanges, clearing houses, banks, and brokerages.
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According to the company’s report, net sales recorded an increase for the second consecutive year, and reach SEK 348.6 million ($42.88 million), a 5.33% increase YoY from 2016 levels of SEK 330.9 million ($40.71 million).
The contribution of recurring revenues to overall net sales amounted to 72.7%, or SEK 253.43 million ($31.18 million). Comparatively, in 2016, recurring ... (read more)