Preliminary financial result for 2021 and downward revision of financial outlook for 2022

Inside information

As in the first three quarters of the year, instability in supply chains, travel restrictions, and temporary project reprioritisations continued to subdue the company’s financial performance during Q4 of 2021.

The adverse business climate of 2021 is reflected in the company’s full-year revenue, which is preliminary estimated at approximately DKK 6 million.

Recognizing both the broad applicability, strength, and uniqueness of LED iBond’s technology platform and the current market challenges, the newly reconstituted board of directors and the executive management today completed a strategic review of the company’s technology edge, product-market fit and market focus and approach.

The strategic review concludes that the company should sharpen its managerial and commercial focus on the established business activities within the smart building segment and the very promising business opportunities within vertical farming.

Based on this conclusion, LED iBond is revising its financial outlook as follows:

• Revenue of DKK 10-30 million for 2022
  (reduced from DKK 70 million)
• Positive cash flow from operations in 2023
  (a one-year delay relative to the previous outlook),
• Long-term EBITDA-margin above 30 % (unchanged)

LED iBond’s annual report, including a more detailed presentation of the conclusions of the strategic review is published on 21 March 2022.

Further Information

Pia Stangerup, CEO
Mobile: +45 5117 6701
Email: pst@ledibond.com

Company contact
LED iBond International A/S
Agern Allé 5A
2970 Hørsholm
Denmark

CVR 36041609

+45 7070 7855
info@ledibond.com
www.ledibond.com

Certified advisor

Västra Hamnen Corporate Finance
Jungmansgatan 12
211 19 Malmö
Sweden

Telephone: +46 40 200 250
Email: ca@vhcorp.se

About LED iBond International A/S

Founded in 2014, LED iBond International offers innovative solutions for integrating light and data, based on the company’s deep knowledge of modern LED technology and many years of development. The patented technology includes the lightest and thinnest LED basis available, offering a unique value proposition combining total design flexibility, full IoT integration and low total costs of ownership. LED iBond’s technology has been deployed in many projects, ranging from intelligent shelf lighting to large scale indoor illumination projects such as the installation of 3.2 kilometres of Tracy®, the company’s innovative flagship product, at DTU, the Technical University of Denmark.

Due to the data transfer capabilities, superior form factor and cooling properties of the technology platform, LED iBond is focusing on three key business lines: Smart Building, UV Disinfection and Vertical Farming, all projected to show significant growth in the years to come.

LED iBond International A/S is admitted to trading on Nasdaq First North Growth Market Denmark (ticker: LEDIBOND).