Good morning, everyone. Welcome to the Q2 presentation of MSAB. I can see that we have a good number of attendees, which is great. I have opened up the possibility for each and every one of you to ask questions after my presentation, but you are all muted as of now, and please make sure that your mics are muted during my presentation. Let's start to show a short presentation of the results for Q2 and the first half year of 2022. Afterwards, we'll take the questions in regards to the report. The report has been out for an hour, so hopefully you have had chance to read through the figures for the first quarter. It was great, and I'm proud to say that we make a record-high sales of second quarter for MSAB.
It amounted to SEK 87.1 million, which is equal to 35% growth compared to last year. EBIT amounted to SEK +2.7 million. Last year we had SEK -1.9 million, so we have almost an improvement of SEK 4.8 million. Profit after tax amounted to SEK 2.7 million, compared to SEK 2.9 million last year. Tax can vary over quarter depending on sales and tax-related things around the globe. As you know, we have subsidiaries and pay local taxes in local countries. Cash flow from the operating activities amounted to surplus SEK 1.0 million. What did this growth come from? Well, proud to say that we had a broad growth in sales.
The sales is not just related to one single region nor one single business. It's a broad increase in sales. We had slight growth in Asia region. We had a significant increase in the North America region, but as well as in the EMEA. I think this shows the strength in our products and our offers and the improvements both in how we sell and our marketing activities, but also that we, relative to our competitors, improving the performance of our product shows in our figures here for the second quarter. What does the sales consists of? Well, the two main areas here, the two biggest areas here is the new sales and the license renewals.
We can see that there is an increase of new sales and license renewals, but also in professional services and training. A comment worth mentioning here is that we recognize revenue from our sales in licenses when we receive the order because we have no commitments for that. Variations over quarters can vary, but over periods you see that we have significant growth in license renewals and new sales. The license renewals is a measurement, I would say, of the appreciation from our customers, how well they think we perform in terms of improvements of all the updates that we give them during the license period as it is active. We have seen year after year how both of these staples are increasing. That's good.
What does the new sales consist of? Well, if you look, I mean, we have a product mix of different things that we are selling. Here we can see that XRY Office is still the top-selling product, and actually the thing that increases the most is still our XRY Office. We're proud to see that the XRY Office has improved so much, and the appreciation for what we do is increasing a lot. XRY Office is the thing that MSAB started with, and it continues to be our best-selling product. I'm happy and proud to see that that one is actually increasing the most.
Not that we don't see performance and increased improvements with others as well, but to see that a product for now 19 years in a row continue to increase, well, that just shows how great this improvement of this product has been for the last 19 years. We can also see that training increases from pretty low levels. It increases quite a lot percentage-wise. It's simply that the societies has opening up, so we can start traveling, our customers can start traveling. We've been limited, especially in training and services, as you also can see increases a lot here due to the lockdowns that simply we have not been able to meet our customers to the degree that we wanted, and customers have not been able to travel themselves either.
All in all, we can see it's a good distribution of increase of sales, both in regions, but also in license renewals, new sales, and of the new sales, we can see that there's a broad increase of sales throughout all of our offers. Therefore, I would say it is a significant, stable growth that we foresee, as I said, earlier this year, that I believe that 2022 will become a great year for MSAB. If you look a little bit closer into the figures, as just mentioned, you can see here on the top left that sales increased from SEK 64.6 - SEK 87.1.
If you go to the right side here, we can also see on the rolling twelve months period, July to June last year, we can see now our twelve-month revenue now is up to SEK 360, almost SEK 361 million, compared to the SEK 333 that we did last year. I also have to remind you all that normally the Q1 and Q2, the H1 or year period is the slowest one. I would say slowest, but that is the one that we sell the least. The top-selling quarters for MSAB is the Q3 and the Q4. It's great to see that we are, even though that half of this period is measured by the Q1 and Q2, that the rolling revenue now is up to SEK 360. EBIT margin is-
Sorry, EBIT is up to 42.6%, and we had 44.3%. I wouldn't be too worried about that. We're gonna really illustrate in the presentation of that. That's simply due to that our cost is more equally distributed over the year than our revenue. Still, it's a good profit for that sales. Also return on equity. You can see we have increased from 26.6% last year up to 44.8%, and the same thing for the rolling twelve months. 38.9% now is up to 44.8% also for the rolling twelve months. All in all, we continue to deliver strong results, very financially stable, no debts.
I think in the worrying times that we are in now, where other type of measurements or look more granularly into figures into different companies, I would say that I think MSAB will continue to deliver, and we'll hopefully be a winner also for our investors and the stock market. If we narrow down into the consolidated income statement, well, here you can see figures once again, but there are some figures worth mentioning here and that sticks out. If you just look on the top revenue, we're seeing that SEK 87.1 compared to SEK 64.6. Cost of goods sold, well, it increases from SEK 6.2 -SEK 8.8.
Absolutely, I mean, we are in the, what do we call, normal margin around the 90% gross margin range, so it's no surprise there. Other external costs, well, that has increased quite a lot since last year. Not too worried about that. I tried to summarize basically what it is. You can see that, I mean, we hardly did not travel at all last year, so travel cost has increased, trade shows has increased. Those two have increased quite a lot, which is good. I mean, it's because of those increases that we can do such a great revenue as we do now when things start to open up. Last year, there were simply no travels and no trade shows. We have also increased our marketing activities, and that's more of a long-term investment.
We see that the change that we do in our marketing activities, both in social media, our webpage. There's a lot of things that we've done in the past 18 months and gonna continue to do, starts to pay off. Of course, there is a currency impact on this as well. We know that the Swedish crown have lost in value compared to all our large currencies that we deal in, great British pound, euros, and U.S. dollars. Freight costs has increased a lot. Some freight costs, of course, we just push or postpone, so not postpone, but we just forward to our customers. There's a lot of shipments being done that is not just specific shipment to customers.
Those things in combination make this increase of external costs. A natural question here would be, well, what is the level of the other external costs that you're gonna think is gonna continue to increase with revenue? Or do you think this is the level where we're gonna be? Well, I would say the second one is probably the most is what we believe. We believe we're gonna be in this level around this, maybe a little bit less, maybe a little bit more for individual quarters. This one is not directly related to the revenue, even though what I just said, that travel and trade shows and marketing activities is of course impacting sales, but not as direct as cost of goods sold, for example.
The other one that increases, compared to last year, is personnel costs. Of course, we have a significant amount of our salaries paid in other currencies than Swedish crowns, so that impacts that. We have more employees this year than we had last year. We have had, during the last year also, of course, salary increases, and there is recruiting costs into this one as well. I mean, this will also varies over different quarters, but there is no real big surprises in these increases of other external costs or personnel costs. What I think is important to focus on is, of course, that we do such a great revenue increase, and also by doing that, we increase the profit significantly as well.
I said that we have you know currencies and employees and a lot of things happening globally. We can see that this is our global presence. That was a while ago since we showed this map, and we have opened up offices both now in or hired staff, I would say, in both Norway and in Finland. We continue to increase our presence globally. We see that that's the concept for making good business and places where we have our own staff, even if it's just a couple of people working from home or a full subsidiary, that makes the big difference if we see where success comes from. The demand for what we are doing by no means is decreasing.
We see that the growth in volume of digital devices just continue to grow. We see that the amount of data per device just continue to grow. Of course, and I shouldn't say of course, but there is also growth in number of exhibits per case that you need to do, which means that suspects they have not just one device. They have many, many times there's multiple devices, but also more and more interest from witness phones and others. I wrote a statement here that I used to use before, but I rewrote it now because I think it's more valid than ever, and that's the former FBI director. Now, it's many years ago, but I think he was so spot on, five, six years ago.
I think he said that the cell phone is probably the single most important evidence you'll find at a crime scene today. Today, people would probably say, take away the probably. They would say cell phone is the single most important evidence you will find at a crime scene today. We see that the market demand for what we're doing is continuing, and it's by no means decreasing. This is not done without challenges. We see that the police around the globe is many times criticized sometimes for not performing as good as they want or they do it the wrong way or whatever. It's challenged.
The police forces are challenged, and I would say that what we are doing is, as I said, the digital revolution that has impacted the whole society has also challenged the police work, and we are there to help them, I would say. We have great examples where police have invested fully in our systems and the performance, not only in crime solve rate, but also appreciation from society has increased a lot. We know that having a strategy for implementing, you know, and securing digital evidence is something that makes a difference for them. Therefore, we are also involved in several different initiatives. When I say initiatives, I mean that there is something beyond just what the capabilities are in the products.
There are a lot of initiatives, not only what we can do, also how these things are done. I won't go through all the examples as you see on the screen here, but it's very important that we are involved in these, and we are probably the supplier globally that are involved in most or highest number of different types of initiatives. What this brings in is that we've been viewed, and we are a thought leader in the industry. We're not just following what the regulations are.
We are there in these different initiatives, also discussing how the future standards, what should be the capabilities of different, what are the different capabilities and things that the police should be able to do, and under what circumstances should they be able to do those. We have never been on levels or high levels as we are today, discussing not only, I mean, what type of progress our customers are looking for and the performance of those, but it's also how we can help them change their whole process, change their whole work for the police force, regionally or nationally. We're very proud of that. That said, we see there is continuing to be initiatives that we can continue, I would say, accelerate our great growth.
There is 4 different categories that we will focus on, continue to focus on, and do even more investments in. That is, of course, take lead in the opportunity to access data from phones and apps. We support over 40,000 different phone profiles already today, and we support more than 4,000 apps. But by no means this will be easier. It's just will continue to be more complex and the lockdown and security influence will continue to be increased. We have shown that we performed very well on that one, but that's a thing that we never can let or stop investing in.
With the amount of data, both volume of phones and volume of data, we also need to improve our technology to implement smart artificial intelligence features into our tools so we can filter out faster and smarter possible evidence, I would say. There was also opening up for new products. We're also gonna continue to focus on new verticals. Both the Frontline and XAMN, and I think has a great potential of growth. As I said, and you saw on the spreadsheets, that XAMN is still our top selling product, and continue to be that, I think. I think growth potential is even higher in Frontline XAMN products. We also look into new segments, see what we can do on that one.
To summarize all that, I would say I have a very positive future, both short-term and long-term for MSAB. I think the positioning that we have, the market demands, and the strong products and solutions that we can offer in combination, it's a great recipe or ingredients for future growth. I think it's important to say that it doesn't mean that it will be, you know, bumps on the road. We might find out things that we find challenging, but over time, I think it's great. By the MSAB positioning, I mean, we have probably the best reputation out there. You could call any of our customers and ask how it is to do business with MSAB. I know that they would say it's great.
We see that they appreciate much more now a partner that they can trust on. It's, of course, important. It's mandatory that you need to perform in terms of what the product was, but what we can do as supplier starts to become even more important. By saying that was my short presentation of the figures, what I think about the market, where I think we are heading. I'm gonna stop sharing and open up for questions. Anyone that wants to unmute and ask some questions on the report? No. I don't see anyone doing that. Okay. By that, I would like to thank you for listening in. If there's anything you wonder or want to ask for afterwards, feel free to contact me through my email. Okay. Thank you so much. Bye-bye.