Adtran Networks SE
DUS:ADV
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Earnings Calls
Last Earnings Call
Record Revenue: ADVA reported its highest-ever quarterly and full-year revenues, with Q4 2022 revenue up 24.1% year-over-year to EUR 195.7 million and full-year 2022 revenue reaching EUR 712.1 million, an 18% increase from 2021.
Profitability: Pro forma EBIT margin in Q4 rose to 12.5%, up from 9.1% a year ago, supported by higher revenues and better margins.
Supply Chain: Semiconductor shortages improved but some challenges remain, keeping inventories high into at least the first half of 2023. Component prices are not expected to decrease soon.
ADTRAN Merger: The business combination with ADTRAN was completed, creating a group with over USD 1 billion in annual revenue and expected synergies of $52 million within 24 months.
Strong Demand & Backlog: Demand stayed robust with record-level order backlog, especially from telecommunications service providers and U.S. customers.
Net Income Drop: Net income for Q4 fell to EUR 3.8 million from EUR 17.5 million, mainly due to unfavorable FX effects and absence of last year’s tax credit.
Positive Outlook: Management remains optimistic about future growth opportunities, revenue synergies, and gradual supply chain normalization towards pre-COVID levels.