Interim report. Camanio Care AB

Transcription

1 Interim report Camanio Care AB January June 2018

2 Summary Figures in parentheses refer to the corresponding period during the previous year, unless otherwise is stated. 1 APRIL 30 JUNE 2018 Total revenue for the period amounted to 2,739 ( 2,344) Net sales for the period amounted to 1,204 ( 2,316) Operating profit/loss was -4,562 ( -4,008) Profit/loss after financial items was -4,762 ( -4,029) Earnings per share amounted to kr (SEK -0.33) Equity in the Group at 30 June amounted to 8,106 (31 Dec 2017; 15,769) Liquid assets in the Group at 30 June amounted to 1,094 (31 Dec 2017; 5,093). Liquidity amounted to 32% (31 Dec 2017; 99 %) The equity ratio was 40% (31 Dec 2017; 61%) The number of shares at the end of the period was 16,674,539 (31 Dec 2017; 15,565,451) 1 JANUARY 30 JUNE 2018 Total revenue for first half-year of 2018 amounted to 5,216 ( 4,102) Net sales for first half-year of 2018 amounted to 3,135 ( 3,985) Operating profit/loss was -8,308 ( -8,014) Profit after financial items amounted to -8,596 ( -8,063) Earnings per share amounted to SEK (SEK -0.72) 2

3 A word from the CEO It is clear that Camanio is entering a new phase. Care technology is high on the agenda for those working within municipalities and county councils, and during our visit in Almedalen we saw mutual understanding about the fact that technology is finally here. The acquisition of Vital Integration means that Camanio has started to build a strong digital platform for home care as well as for nursing homes. We are very happy and proud over our new coworkers who have built such a fantastic solution, and who with their unique knowledge will be able to offer high quality services within digital care. How will society be able to make a digital transformation without a digitalized infrastructure and internet access? During our product installations (in several different countries), we have been repeatedly surprised over the lack of internet access; both when it comes to Wi-Fi as well as fixed internet cables. How is it that our elderly don t have internet access when basically all schools, cafés, and public spaces offer free Wi-Fi-passwords to all visitors? What is more, a municipality cannot build their healthcare services on just any internet subscription signed by a private individual. How can the public ensure guaranteed healthcare quality if the municipality cannot even control their own security, connectivity and reliability? The reasons for the lack of decent internet connectivity are plenty. Through the services that Vital Integration offer, we can now bring our own internet and secure infrastructure. This makes a big difference, both for us and our customers. We offer internet, but not just any internet, but a secure, redundant internet that can provide and communicate important alarms and signals from care technology in the home through several different alternative routes. Not too bad! On top of a secure infrastructure there is an open integration platform where the care, the users or the relatives can connect to a wide range of services and products from different providers. Everything is easily managed through a portal. Super sophisticated! Currently in Sweden, it has become common for the municipalities to transition from using an analogue security alarm system to using a digital alarm system. Although this has been a requirement from SKL (Swedish Municipalities and County Councils) since 2015, this is still a large step for a municipality to take. On the other hand, the step from using a digital security alarm to start using a digital care platform in the home is small. From this step, one can imagine how the digital care palette of the future opens itself up as an ecosystem of individually customized solutions. With Vital s solutions as a platform, Camanio Care can take an even stronger position on the digital care market in the home! Catharina Borgenstierna, Camanio Care CEO 3

4 Comments on the Group s financial development for the second quarter The Groups total revenues for the period April June 2018 amounted to 2,739 (2,344), which is an increase of 17% compared to the corresponding period the previous year. The increase is mainly due to MoveCare s research and development project, which has a positive impact on other revenues. During December 2017, the company issued a convertible loan of 4,000. Of these, the lender chose to convert 300 to shares during December. During the first quarter, the lender chose to convert 600 to shares. During the second quarter, the lender chose to convert an additional 1,100 to shares. The conversion during the second quarter lead to an equity increase of 1,038 of which 151 was share capital and 887 in excess. The number of subscribed shares during this period amounted to 756,148. After the end of the period, the company has chosen to repay the remaining convertible loan of 2,000. This has been financed by the company having raised a short-term loan. Financial ratios Quarterly overview The Group Quarter 1 Quarter 2 *) Acc. Quarter 2 1 Jan-31 Mar April-30 June Jan-30 June 2018 Total revenue 2,477 2,739 5,216 Costs for goods ,186-1,802 EBITDA -3,079-3,894-6,973 EBIT -3,746-4,562-8,308 Period result -3,787-4,716-8,503 Result per share, SEK Liquidity % 66% 32% 32% Solidity % 56% 40% 40% *) During this period, the company has discovered costs for goods which should have been accounted for during the first quarter. Hence, the second quarter has been adjusted which has affected the costs for goods and the result for the second quarter negatively with 431. Significant events during the second quarter 4 April Camanio Care and BikeAround acclaimed in American and Canadian media 9 April Camanio Care participates in research project for robots in elderly care 10 April Camanio Care participates during Aktiespararnas Kvinnokväll (Swedish Shareholders Association s event for women investors). 18 April Increase in the number of shares in Camanio Care AB (publ) 18 April Bestic patent granted in China 20 April Camanio Care awarded the Rising Star Award April Camanio Care elects a new board member 18 May Increase of number of shares in Camanio Care AB (publ) 21 May Camanio Care signs an agreement with Vital Integration 30 May Camanio Care granted trademark for Bestic in China 12 June Increase of number of shares in Camanio Care AB (publ) 4

5 Significant events since the end of the period: Camanio Care signs an agreement with OneCo AS to promote further Nordic collaboration Camanio Care signs an agreement with a new distributor for Bestic in Hong Kong Camanio Care acquires Vital Integration Themtech Company Ltd becomes a new distributor for Camanio Care in Thailand Repayment of convertibles Camanio Care expands to Dubai in the United Arab Emirates Camanio Care is granted a patent for Bestic in USA Camanio Care signs a collaboration agreement with Spring Hills Senior Communities in Florida, USA Camanio Care takes a short-term loan to finance, among other things, repayment of convertibles. Additional information This interim financial report has not been reviewed by the company s auditors. Accounting principles The group and the parent company apply the Swedish Annual Accounts Act and the general recommendations of the Swedish Accounting Standards Board K3 (BFNAR 2012:1). The accounting principles are unchanged since the latest annual report issued. For a more detailed description of the accounting principles, see Camanio Care AB s (publ) annual report for 2017, pages Future financial reports Date Report 15/11/2018 Interim Report July September /02/2019 Press release of unaudited annual earnings figures, etc The company s reports are published on the company s website, The reports can also be reached via Spotlight s website, 5

6 Income statement Group 1 April 30 June April 30 June Jan 30 June Jan 30 June 2017 Net sales 1,204 2,316 3,135 3,985 Other operating 1, , revenues Total Revenue 2,739 2,344 5,216 4,102 Operating expenses Costs of goods -1,186-1,151-1,802-2,027 Other external -2,599-2,291-4,795-4,480 expenses Personnel costs - 2,849-1,938-5,592-3,741 Operating profit/loss before depreciation and financial items (EBITDA) -3,894-3,036-6,973-6,146 Depreciation ,335-1,868 Operating profit/loss -4,562-4,008-8,308-8,014 (EBIT) Financial items Pre-tax profit/loss -4,762-4,029-8,596-8,063 Deferred tax Profit/loss for the -4,716-3,936-8,503-7,970 period The profit/loss for the year is attributable to the parent company's shareholders. 6

7 Parent Company 1 April 30 June April 30 June Jan 30 June Jan 30 June 2017 Net sales 1,638 2,163 3,373 3,743 Other operating 1, , revenues Total revenue 3,172 2,191 5,454 3,859 Operating expenses Cost of goods -1,480-1,011-2,118-1,887 Other external -2,257-2,264-3,881-4,379 expenses Personnel costs -2,849-1,937-5,592-3,741 Operating profit/loss before depreciation and financial items (EBITDA) -3,414-3,021-6,137-6,148 Depreciation Operating profit/loss -3,823-3,232-6,955-6,495 (EBIT) Financial items Profit/loss for the -4,067-3,258-7,322-6,533 period 7

8 Balance sheet 30 June Dec 30 June Dec (Group) (Group) (Parent Company) (Parent company) Fixed assets Capitalized expenses 10,900 11,593 10,178 10,783 Patents, trademarks 2,722 3, Goodwill 1,125 1,275 1,125 1,275 Equipment Participations in group ,912 14,912 companies Total fixed assets 15,124 16,459 26,604 27,422 Current assets Stocks 1,576 1,357 1,218 1,306 Current receivables 2,372 3,064 3,787 3,419 Cash and bank balances 3,082 5, ,354 Total current assets 5,042 9,514 5,910 9,079 TOTAL ASSETS 20,166 25,973 32,514 36,501 Equity 8,106 15,769 12,755 18,483 Deferred tax liabilities Liabilities Non-current liabilities 667 1,274 9,900 10,396 Current liabilities 10,789 8,233 9,859 7,622 Total liabilities 11,456 9,507 19,759 18,018 TOTAL EQUITY AND LIABILITIES 20,166 25,973 32,514 36,501 8

9 Change in equity, Group Share capital Other Contributed capital Other equity Including profit/loss for the period Total capital Amount at start of year 3,113 51,134-38,478 15,769 Conversion to shares 222 1,372 1,594 Repayment of shareholder contribution Translation differences Profit/loss for the period - 8,503-8,503 Amount at end of period 3,335 52,506-47,735 8,106 Change in equity, Parent company Share capital Other Contributed capital Other equity Including profit/loss for the period Total capital Amount at start of year 3,113 30,645-15,275 18,483 Conversions to shares 222 1,372 1,594 Appropriation of earnings -15,275 15,275 Profit/loss for the period -7,322-7,322 Amount at end of period 3,335 16,742-7, ,755 9

10 Contact Camanio Care AB, Hästholmsvägen 32, Nacka Org.number: About Camanio Care Camanio Care is a care tech company that develops innovative solutions for an excellent care at home with the individual in focus. Camanio Care offers digital service platforms for digital care, robotics, assistive devices and gamification, with products such as VITAL, BikeAround TM, Bestic and Giraff TM. Through three focus areas; Activation, Mealtime and Digital Care, Camanio Care wishes to support people s basic needs and increase accessibility and quality within health care. Camanio Care has its headquarters in Stockholm, a US subsidiary, Camanio Care Inc., as well as distributors in Asia, The Middle East, Hong Kong, Australia and in ten European countries. You are welcome to follow us on: This is information that Camanio Care AB is required to publish under the EU Market Abuse Regulation. The information was provided through the above contact person for publication on 24 August The interim annual report was approved for issue by the Board of Directors on 24 August