Q1 2018 (2018-01-01 - 2018-03-31)
Q1 2018 (2018-01-01 - 2018-03-31)
• Revenue totalled 2 905 TSEK.
• Profit/(loss) after financial income and expenses, net amounted to -4 952 TSEK.
• Earnings per share * -0.34 SEK
• ** The solvency ratio was 91.5%
*Earnings per share: The net profit or loss for the period divided by the average number of shares.
The average number of shares in the Group for the first quarter amounted to 14 495 710. The registered number of shares in OmniCar as at 31 March 2018 totalled 14 495 710.
**Solvency: Equity as a percentage of the balance sheet total.
Significant events in Q1 2018
Omnicar Holding AB signs agreement with Bosch Car Service. One of the most prestigious workshop chains in Europe has chosen OmniCar’s service agreement manager (SAM) as their primary solution when selling and handling service agreements.
Omnicar Holding announces appointment of VP of Sales. Tom Due Andersen has been appointed VP of Sales with effect from 1 March 2018. Tom Due Andersen brings extensive commercial experience from the auto industry where he has been working as an executive for the past
New date for publishing Q4 2017 report. OmniCar Holding AB announces that the company’s interim report for the period 2017-10-01 - 2017-12-31 will be postponed. Previously announced date of publication was 15 February 2018,
the new date will be 28 February 2018.
Stig Jensen resigns from the Board. Stig Jensen has decided to resign from the Board of Omnicar Holding AB
for personal reasons.
Omnicar enters sponsorship deal with the Danish Formula One driver Kevin Magnussen. “Formula One is a fantastic platform to strengthen our brand among both our customers and our partners. There is enormous interest in motor sports across car dealerships and repair shops, and Formula One is by far the most popular. Kevin also brings
a touch of charm and humour, and we like that,” says
Claus T Hansen.
Omnicar Holding AB signs agreement with Skorstensgaard A/S. We are proud to announce that the fastest growing independent multi-brand workshop chain in Denmark, Skorstensgaard A/S, has chosen Omnicar’s service agreement manager (SAM) as their primary solution when selling and handling service agreements.
Significant events post period end
Omnicar postpones the date for the AMG.
OmniCar Holding AB hereby announces that the Annual General Meeting has been rescheduled for 18 June 2018.
The AGM was previously scheduled for 24 May 2018.
The Danish Automobile Service Association
(Dansk Bilbrancheråd) is digitalising its workshops in cooperation with OmniCar. Dansk Bilbrancheråd has signed a framework agreement with IT company OmniCar, which will assist with digitalising the workshop sector.
CEO Claus T. Hansen has the floor
It is with great pleasure that I present our Q1 2018 reporting:
Our objectives for 2018 are:
• 1,000 dealers on our platform
• 23,000 service agreements on our platform
• Launch Sweden 1/8
• Launch Norway 1/10
OmniCar KPI’s are as follows:
1. Number of dealers 380
2. Average length of service agreements 54 months
3. Average value of service agreements SEK 458
We have experienced a rapid growth in our customer portefolio of dealers and workshops. Our prime focus going forward is to penetrate the car dealers and secondarily the workshops. We see rapid growth in service agreements when car dealers sign up, but more conservative growth with workshops that do not have car sales.
Our current success has been achieved with only one sales person on board, but since 1 May we have had four sales persons servicing the Danish market and from 1 June we will also have a country sales manager servicing the Swedish market.
We will continue to focus on our new SAM platform while our original legacy product platform will be phased out – to support this strategy we have discontinued working with Swedish importers on our old platform to spend our resources on building the Swedish market up around our SAM platform. We are already in dialogue with some
of the most prominent dealers in Sweden
and feel confident that we can announce
new customers in Sweden during Q2/Q3 2018.
During 2018, we have witnessed huge interest in Omnicar, not only in Scandinavia but also on the European
market and we are currently evaluating which strategy to implement to capture this growing market. The management team wishes to use the momentum to win European market shares and get the first-mover advantage. Our solution, “SAM”, is built on a modern API-based technology stack similar to the one used by global internet applications like Facebook and Netflix and can easily be versionised to support other languages and countries.
The market for service agreements has been far bigger than previously announced – cars is by far the largest segment and hence we will maintain
a strong focus on this vertical.
Below are some of the market data for the service agreement market. The market for SAs is driven by new consumer trends such as shifting demand towards subscription schemes and a changing competitive environment for automotive players in an increased effort to create customer loyalty. See enclosed pdf.
The management team and the board of directors see a very attractive market potential – meetings with leading European auto industry influencers indicate that the current market opportunity for Omnicar is attractive. We will now work intensely to launch a growth plan that can capture this potential and create a significant shareholder value in the coming years.
Finally, I wish to thank all our shareholders for your trust and commitment.