Interim Report: 1 October 2019 - 31 December 2019

Interim Report: 1 October 2019 - 31 December 2019

Significant Events:

• Revenue for the 3 months to 31 December 2019 was SEK 6.5m, a 53% increase on the corresponding period in 2018 (SEK 4.3m).
• EBITDA for the 3 months to 31 December 2019 was SEK -7.3m, a deterioration of 3% on the corresponding period in 2018 (SEK -7.1m).
• Signed a long-term agreement for the provision of our software on one of the largest infrastructure projects in Ireland.
• Zutec has referred it’s significant outstanding Qatar debt to an arbitration process for adjudication with the view of claiming the original core debt as well as all historical and future incurred costs in respect of the contract.
• Signed an Enterprise Agreement with one of Ireland's leading homebuilders.
• Election of a new member to the Board of Directors, Mikael Näsström.
• Draw down of €300k loan against €1m credit facility with Athanase Industrial Partners in December 2019 which was previously approved by shareholders at the November 2019 AGM.  

The Interim Report is included in the attached pdf file.

For additional Information please contact:

Clíona Farrelly, CEO of Zutec Holding AB

cliona.farrelly@zutec.com +353 1 201 3565

The company is listed on Nasdaq First North Growth Market and Mangold Fondkommission AB is the Company’s acting Certified Adviser (Tel. + 46 8 5030 1550, CA@mangold.se, www.mangold.se.)

This information is inside information that Zutec Holding AB (publ) is obliged to make public pursuant to the EU Market Abuse Regulation. The information was submitted for publication through the agency of the contact person set out above, February 19th, 2020. 

About Zutec Holding AB

Zutec develops and markets cloud-based software solutions, primarily directed to companies within the building and construction industry. The Company’s products help clients to increase their productivity and cost efficiency. Zutec provides solutions within project management, data and document collaboration tools, data enriched 3D-models, defect management, project handover and the operations and maintenance of buildings.