Doro Reports Increased Sales and Improved Profitability for 2023
Doro has reported its 2023 results, showing growth in both net sales and profitability. The company's fourth quarter saw increased demand for its devices, contributing to year-end performance.
Swedish technology company Doro has announced its financial results for the fourth quarter and full year 2023, indicating a significant increase in both net sales and profitability. The company reported that the fourth quarter was its strongest of the year in terms of sales.
Net sales for the fourth quarter reached SEK 289.6 million, a 9.1 percent increase compared to the same period in 2022. For the full year 2023, net sales amounted to SEK 973.6 million, representing a 7.0 percent rise year-on-year. The company also saw improvements in gross margin, reaching 40.1 percent for the full year, and EBITDA grew by 36.6 percent in the fourth quarter.
CEO Jörgen Nilsson attributed the positive performance to sustained demand across operator, distributor, and retail channels, with retail being the primary revenue driver. The success of Doro's 4G product portfolio, including new feature phone models, and increased smartphone sales in the UK and Nordic regions were highlighted as key factors. The company also noted improved gross margins due to product mix and a more stable currency situation.
Doro plans to propose a dividend of SEK 2.00 per share for the 2023 financial year. The company continues to invest in product development and marketing, while exploring new product categories such as wireless earbuds and video doorbells to meet the needs of seniors.