Interim report, 1 Jan. – 31 March 2018
The numbers and key figures refer to the remaining operations
January - March 2018
- Net sales for the period SEK 28.5 million (31.9)
- Operating loss for the period SEK -9.5 million (-10.5)
- Loss after tax for the period SEK -8.3 million (-11.5)
- Earnings per share SEK -0.10 (-0.20)
- Cash flow before changes in working capital for the period SEK -6.3 million (-5)
|Net sales||28 456||31 942||127 157|
|Operating result||-9 528||-10 490||-72 231|
|Loss for the period||-8 325||-11 541||-118 316|
|Balance sheet total||135 397||249 176||163 189|
|Earnings per share, basic and diluted*||-0,10||-0,20||-2,01|
|Capitalized development costs||3 266||1 761||4 593|
|Depreciation/Write down||-3 312||-634||-14 037|
Q1 2018 was marked by intense internal and external efforts. With the challenges of 2017 behind us, we’ve been able to give increased focus to our clients, and on stabilizing our financial position. We are very grateful that our new strategic investor, AJ Group, is coming on board. Aside from a wealth of experience in adjacent markets and new geographies, we will be able to focus on executing the business plan for MeaWallet and eProducts.
Significant events during the quarter
As a result of the completion of the divestment of SEQR, on January 10, the new operational management was announced, which will be responsible for implementing Invuo's B2B strategy. The new management, under John Longhurst, CEO, consists of Martin Schedin and Lars Sandtorv (Head of MeaWallet), and Jonas Lundgren (Head of eProducts).
MeaWallet has signed an agreement with a major bank in the Nordic region for delivery of MeaWallet’s technology for converged wallet, i.e. mobile contactless payments to that specific Nordic country. The contract value is approximately E700,000.
An agreement with AJ Group brings financial flexibility to Invuo and entails that AJ Group will invest approximately SEK 52million in shares and by acquiring SDS loans.
MeaWallet, part of Invuo Technologies AB, has signed an agreement with a nonbanking financial institution in the Nordic region for delivery of MeaWallet’s technology for Mea Token Platform and Mea Masterpass, i.e. mobile contactless payments and online payments.
Significant events after the end of the reporting period
Invuo confirms new timing of AJ Group transaction, and receipt of nonrefundable deposit.
This is the type of information that Invuo Technologies AB (publ) is required to disclose pursuant to the Securities Market Act and/or the Financial Instruments Trading Act. The information was submitted for publication on April 25, 2018 at 08:50 a.m. (CET).
For further information, please contact:
Martin Schedin, CFO/IR
firstname.lastname@example.org +46 8 564 878 00
Invuo has two main business areas: Mobile payment solutions provided under the trademarks of MeaWallet™ and distribution of eProducts. www.Invuo.com
Invuo’s interim report for the period January – March 2018 has been approved for publication by the Board of Directors, by its decision on April 24, 2018. This financial report has not been subjected to a review by the Company’s auditors.