Interim Statement January – March 2019

Period 1 January 2019 – 31 March 2019

• Revenue for the quarter to 31 March 2019 has decreased by 46% to SEK 5.6m compared with the same quarter in 2018 with the conclusion of the project in Qatar in 2018 still having an effect. There is an increase in revenues in the quarter to 31 March 2019 of 32% to SEK 5.6m compared to the prior quarter (SEK4.3m).
• Expenditure on marketing, sales and product development continue to have had a significant effect on our results with operating costs for the 9 months to 31 March 2019 at SEK 31.7m compared to SEK 21.7m for the same period in the previous year. These costs will take time to mature before the benefits are clearly seen in terms of revenue and profitability.
• Continued growth of our sales pipeline in all regions.
• New website recently launched targeting search engine optimisation and driving traffic to increase inbound sales.
• New CFO appointed with significant experience in the London property market.
• Experienced Digital Market Manager hired in March and has driven the launch of our new website.

For additional Information please contact:

Brendan O’Riordan, CEO of Zutec Holding AB.

brendan.oriordan@zutec.com +353 86 8568971

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

The Interim report is in the attached pdf file. 

This information is inside information that Zutec Holding AB (publ) is obliged 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, May 21st, 2019.

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.

To find out more please visit www.zutec.com