Camanio Care publishes interimreport January-September 2017

The complete interim report is available as a pdf-file on our website www.camanio.com and is also attached to this press message.

2017-11-24 ENG Pressmessage Camanio Care Interimreport Jan-Sept 2017Welcome to our investor meeting at AktieTorget, Monday Nov 27th at 12.00!

Register your participation to Cathrine Börjesson; catrine.borjesson@aktietorget.se 

Summary

Figures in parentheses refer to the corresponding period during the previous year, unless otherwise stated. The comparative figures for the key ratios which relate to the Group’s profit/loss and income statement refer to the Parent Company, Camanio Care AB (formerly Brighter Two AB), as the subsidiary Bestic AB was acquired in October 2016, implying that the company did not constitute a corporate group until the final quarter of 2016.  

1 JULY – 30 SEPTEMBER 2017 

  • Net sales for the period amounted to kSEK 775 (324) 
  • Operating profit/loss was kSEK -3,749 (-1,122) 
  • Profit/loss after financial items was kSEK -3,799 (-1,172) 
  • Earnings per share amounted to SEK -0.26 (-0.24) 
  • Equity in the Group as at 30 September amounted to kSEK 18,919 (31 Dec 2016: kSEK 22,398) 
  • Cash and cash equivalents in the Group as at 30 September amounted to kSEK 431 (31 Dec 2016: kSEK 6,701). Liquidity amounted to 155% (31 Dec 2016: 296%) 
  • The equity/assets ratio was 70% (31 Dec 2016: 76%) 
  • The number of shares at the end of the period was 14,642,970 (31 Dec 2016: 10,315,592). Of this amount, a total of 2,407,037 shares have been subscribed for as a part of the share issue currently in progress, but were registered with the Swedish Companies Registration Office in October. The number of registered shares at the end of the period on 30 September was 10,406,501. 

1 JANUARY – 30 SEPTEMBER 2017 

  • Net sales for the nine months constituting the period amounted to kSEK 4,760 (891) 
  • Operating profit/loss was kSEK -11,092 (-2,442) 
  • Profit/loss after financial items was kSEK -11,191 (-2,541) 
  • Earnings per share was SEK -0.90 (-0.52) 

Significant events during the third quarter

  • 24 August | Camanio Care strengthens its organisation through the recruitment of two new members to the management team  
  • 28 August | Camanio Care’s product Bestic is exhibited at the World Robot Conference in Beijing receives substantial attention from the print media and TV in China 
  • 1 September | Partial registration of Camanio Care’s preferential rights issue 
  • 8 September | Camanio Care initiates a collaboration with Olivia Rehabilitering to improve the mealtime situation in the health care sector  
  • 13 September | Registration of Camanio Care’s preferential rights issue completed, conversion of paid subscription shares to ordinary shares 
  • 19 September | Notice of extraordinary general meeting of shareholders 
  • 21 September | New video from Google illustrates the value of Camanio Care’s welfare technology through a warm and personal film report from Tibro municipality 

Significant events after the end of the period

  • 11 October | Camanio Care receives the remaining proceeds of the share issue from the company’s Chinese partner Zhongrui Funing Robotics 
  • 12 October | Camanio Care broadens its product family with the BikeAround Screen 
  • 18 October | Report on the extraordinary general meeting of shareholders 
  • 24 October | Camanio Care implements offset share issue to finance international sales activities 
  • 9 November | Camanio Care launches Giraff – a digital monitoring and communication robot 

A Word from the CEO 

 

The third quarter was, in spite of the summer months, very eventful – especially with regard to the company’s international expansion. Behind the scenes, we have focused on starting up and increasing cooperation with our strategic partner ZFR in China. In addition, we have strengthened the company’s sales and marketing activities in the USA and Canada, two large and fast-growing markets where we see potential within rehabilitation, activation and digital care.  

The partnerships and sales support activities that we launched in the spring and summer have meant that we are entering the fourth quarter and 2018 on exceptional terms. During the quarter, we strengthened not only the company’s financial position, but also our management team, with the recruitment of new personnel who will add skills and competencies vital for the growth journey which Camanio Care is facing. 

At the annual World Robot Conference in Beijing, 23 - 26 August, our Chinese partners demonstrated Camanio’s popular robotics solutions Bestic in their booth. The results were beyond all expectations and interest in Bestic was enormous; China Daily, a Chinese English-language newspaper that is distributed to 150 different countries and regions, gave Bestic top ranking on their website. 

Looking at the Swedish market, we began a 5-year collaboration with Olivia Rehabilitering, giving people with eating difficulties the possibility of rehabilitation with mealtimes in focus – a unique programme in Sweden! Olivia Personlig Assistans, which has annual sales of approximately SEK 400 million, currently has 10 local assistance offices around Sweden, with approximately 1,500 employed personal assistants and 240 customers. This of course is a great partner for us and we are glad that Olivia has chosen Camanio to improve their rehabilitation programme.  

In September, Google published a video and blog post about our activation aid the BikeAround jDome, which saw a tremendous spreading through shares and links. We are naturally very proud that companies the size of Google see the value in our solution and devote their time and energy to highlight the importance of the product to the individual. 

BikeAround jDome is one of several products within robotics and welfare technology from Camanio Care that contribute to a better life for the elderly and disabled. At present, the BikeAround jDome is used at several retirement homes in Sweden and interest in the solution is also increasing in the global market, not least thanks to Google’s film. We have also launched a complementary product, the BikeAround Screen, a smaller version of the BikeAround jDome where the characteristic dome has been replaced with a flat screen.  

Our work in the coming months and years will now be to continue to focus on efficiency in our sales activities and production. These two fundamental areas form the basis of our obvious platform for growth with our innovative products. Our goal is to move from innovation to standardisation, whereby technology is a necessary and important part of the future of social care.  

Catharina Borgenstierna, CEO Camanio Care 

For further information, please contact:
Catharina Borgenstierna, CEO
Telephone: +46 733-93 00 07
E-mail: catharina.borgenstierna@camanio.com 

About Camanio Care
Camanio Care is a company operating in the caretech marketplace with robotics, assistive devices and gamification that focus on supporting basic human needs. We provide products and services that improve quality and efficiency in the areas of ​​Active Life, Mealtime Situation and Digital Care with products such as BikeAround™, Giraff and Bestic®. Camanio Care has it’s headquarters in Stockholm, Sweden, subsidiaries in the USA and distributors in ten European countries and also Australia and China. We make the future work.

Read more about us at www.camanio.com and subscribe to our newsletter