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Bioservo Technologies AB Interim Report January – March 2021

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First quarter in figures

  • Net sales of SEK 1.5 M (3.0)
  • EBITDA of SEK -7.8 M (-6.6)
  • EBIT of SEK -9.0 M (-7.5)
  • Earnings for the period amounted to SEK -9.0 M (-7.5)
  • Earnings per share before and after dilution amounted to SEK -0.57 (-0.53)
  • Cash flow from operating activities for the period amounted to SEK -7.7 M (-6.2)
  • On 31 March, cash and cash equivalents were SEK 44.7 M (50.3)

Significant events during the period

  • Bioservo obtained financing of SEK 5 million within the Horizon 2020 framework to develop the next generation of rehabilitative and assistive grip-enhancing gloves. By offering patients rehabilitation at home and in daily activities, they can become more independent, the rehabilitation process is made more efficient and care costs are reduced.
     
  • Bioservo ended the short-term layoffs due to COVID-19 on January 1, 2021 in order to accelerate development of new products and further enhancing current products.  

Events after the end of the period

  • EUROPE TECHNOLOGIES' GOBIO has signed an agreement for purchasing 100 Ironhand® systems at an order value of MSEK 4.2 over a period of ten months. The order will secure the delivery of Ironhand® systems to meet the increasing demand in the French market.

For further information please contact:
Petter Bäckgren
CEO
petter.backgren@bioservo.com
+46 8 21 17 10

or

Jacob Michlewicz
CFO
jacob.michlewicz@bioservo.com
+46 8 21 17 10

 

Note: This information is such as is required by Bioservo Technologies AB under the EU Market Abuse Regulation. The information was submitted, through the care of the above person, for publication on 4 May 2021 at 08:30 (CET).

About Bioservo Technologies
Bioservo Technologies AB (publ) is a world leading company in wearable muscle strengthening systems for people in need of extra strength and endurance. All our innovative products and systems are designed to keep people strong, healthy and efficient.

The company has a unique global position within soft exoskeleton technology for the hand, both for industrial applications to improve the health for workers and to improve quality of life for people with reduced muscle strength.

Bioservo Technologies was founded in 2006 in collaboration between researchers at the Royal Institute of Technology and a doctor at Karolinska University Hospital. Bioservo Technologies is a Swedish public limited company with headquarters in Stockholm.

FNCA Sweden AB, +46(0)8-52800399, info@fnca.se is the company’s Certified Adviser on Nasdaq First North

For more information, please visit www.bioservo.com

 

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