edyoutec restructures the Wegesrand group and reduces costs by approx 4.0 MSEK (350.000 EUR) per year.
Press release February 7, 2024
The German management of Wegesrand group has executed on a plan to reduce administrative costs and to increase efficiency within the group.
The plan, which has been implemented, will enable the group to save approximately SEK 4.0 million (EUR 350,000) per year by reducing administrative costs and making the group structure less complex. By merging the German subsidiaries into one subsidiary where the respective activities in the subsidiaries are organised as profit units within the framework of the remaining subsidiary (Wegesrand).
Cost reductions are made primarily by consolidating administrative and development services as well as synergy effects within, among other things, accounting and auditing. By Wegesrand implementing AI tools in the production process, existing services are made more efficient and contribute to synergies. The cost savings are not expected to negatively affect order intake or expected revenue.
The work with the consolidation and cost efficiency program is to ensure a structure that can support the entire group and to strengthen the company's margins and thereby more quickly reach a positive cash flow for the entire group.
Wegesrand’s CEO, Thorsten Unger, comments:
"Our main focus is our core business - the development of high quality educational products. With this step we get a less cumbersome structure that makes us more focused on the main goal: creating the future of education and licence generated revenue on our IPs."
For further information, please contact:
Eric de Basso, CEO, edyoutec AB
E-mail: eric@edyoutec.com
Phone: +46 70 780 52 00
About edyoutec
edyoutec is a Swedish company in games and digital education that consists of two verticals, EdTech and games. In the EdTech vertical, the company focuses on developing products in genres such as game-based learning and Serious Games, it is in these areas that edyoutec has identified the greatest synergies between the company's two verticals. In the Games vertical, the business concept is based on developing and distributing free-to-play ("F2P") mobile games for Android and iOS.
For more information, see edyoutec's website www.edyoutec.com
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