CONTINUED GROWTH AND INCREASED FOCUS ON PROFITABILITY

 

This is a translation of the Swedish interim report. If there should be any discrepancies, the Swedish language version governs.

 

FOURTH QUARTER, OCTOBER – DECEMBER 2019

  • Net sales increased by 12.0%, or 10.7% FX adjusted, to MSEK 70.5 (63.0)
  • Gross profit increased by 7.7%, or 6.1% FX adjusted, to MSEK 54.0 (50.2)
  • EBIT was MSEK -5.3 (-3.6)
  • Earnings after tax was MSEK -6.2 (-2.9)
  • Earnings per share was, basic SEK -0.79 (-0.40), diluted SEK -0.79 (-0.40)

 

FULL YEAR, JANUARY – DECEMBER 2019

  • Net sales increased by 8.9%, or 7.5% FX adjusted, to MSEK 263.1 (241.5)
  • Gross profit increased by 10.5%, or 8,8% FX adjusted, to MSEK 202.0 (182.9)
  • EBIT amounted to MSEK -22.9 (-13.3)
  • Earnings after tax amounted to MSEK -22.9 (-13.9)
  • Earnings per share amounted to, basic SEK -2.91 (-1.94), diluted SEK -2.91 (-1.94)

 

IMPORTANT EVENTS

 

DURING THE PERIOD               

  • The global marketing function was moved from the US to Sweden.
  • The Norwegian operations was combined with the Swedish organisation, leading to cost efficiencies and annual cost reductions of MSEK 2.8 from 2020.

 

AFTER THE PERIOD ENDED

  • P-O Westerlund was appointed as new CEO on January 26.
  • Global lifestyle and clothing brand GANT chose Nepa as brand tracking provider in all major markets
  • Ann-Christine Fick was appointed new CFO and member of group management.
  • Michael Wallin was appointed to the new role of Head of Investor relations.
  • Based on our profitability focus and the recent outbreak of Corona virus we have taken action to addressing costs.  This includes termination of employees under probationary period, ending consultant contracts, and a salary reduction of 20 percent for group management.

 

A WORD FROM OUR CEO

 

In the fourth quarter gross profit amounted to MSEK 54.0 (50.2), an increase of 7.7 percent. In the same quarter EBIT was MSEK -5.3 (-3.6). For the full year of 2019, the group’s gross profit was MSEK 202.0 (182.9), an increase of 10.5 percent compared to 2018. EBIT was MSEK -22.9 (-13.3).

 

To summarize the outcome of the quarter and the full year of 2019 we had an organization that was set-up for a higher growth rate than we achieved. In the fourth quarter, we were also burdened by costs aiming at simplifying our organizational structure and adapting our cost base, for example by downsizing the US operations and by combining the Norwegian and the Swedish organizations.

Since I took over as CEO at the end of January this year, we have shifted focus from growth to profitability. We will, of course, continue to grow, but this will be done with profitability.

 

Action program

For some time, we have had a too large cost base in relation to our revenues. With the new shock of the Corona virus we are acting decisively and taking into consideration a changed market sentiment. As part of our adaptation, employees on probationary period have, sadly, been terminated and we have radically reduced the number of consultants. Our group management team has decided to reduce our salaries by 20 percent, in addition to the voluntary salary reduction of 10 percent that some of us took already in the beginning of 2020. Altogether, I estimate that these actions will reduce our costs by at least SEK 11 million on an annual basis, beginning in the second quarter.

I sincerely regret that we have to take these measures and at the same time I hope for understanding since conditions have changed dramatically in a short period of time. I would have preferred to keep our talented employees.

I am determined to achieve the goal that Nepa will be profitable this year. With the actions taken, I expect that we will have increased financial leeway. We are monitoring developments closely and further measures cannot be ruled out should the situation worsen.

 

Favourable conditions

As new CEO I really look forward to leading and developing this company. Being one of the larger shareholders and with extensive experience from working in the company, I know that we have fantastic conditions for both growth and profita­bility.

We have a strong market position, significant experi­ence and expertise among our talented employees, and have some of the market's best tools. Together, we will now unleash the potential in this combination, and I feel a strong support for this internally at Nepa.

Furthermore, it is important that we have the market’s confidence. Therefore, as part of a more investor-friendly approach, we will gradually increase the trans­parency of our financial reporting to make it easier to follow how we are developing. A first action is the segment reporting we are introducing, starting this quarter.

 

Outlook

Achieving growth by optimizing marketing investments is increasingly important for companies. Nepa are experts in transforming consumer data to growth generating actions for our clients and we have an important role to play. If we try to look beyond the current Corona-related concerns, Nepa has a fantastic potential to show both growth and profitability in the years to come. I look forward to leading the company to deliver our potential.


P-O Westerlund
CEO

 

 

THE GROUP

 

DEVELOPMENT OF THE GROUP

 

REVENUES

Gross profit increased in the fourth quarter by 7.7 percent to kSEK 53,995 (50,155), and 6.1 percent currency adjusted. Net sales increased by 12.0 percent to kSEK 70,520 (62,972), and 10.7 percent currency adjusted.

For the full year of 2019, gross profit increased by 10.5 percent to kSEK 202,021 (182,880), and 8.8 percent currency adjusted. Net sales increased by 8.9 percent to kSEK 263,061 (241,485), and 7.5 percent currency adjusted.

The strongest sales growth in 2019 was in Marketing Optimization followed by Customer Experience (CX). It was primarily the result of strong growth of our core products Ad & Media Tracker (MO) and CX Tracker (CX).

In absolute numbers, the UK showed the highest growth, increasing sales by MSEK 8.0 equivalent to 33 percent (MSEK 6.8 or 26% growth currency adjusted). That is a result of the success of our product Path to Purchase, which helps companies understand the entire consumer journey until making a purchase decision and all touchpoint affecting this, both online and offline. This also contributed to the fact that our ad hoc sales grew more than our recurring sales, since we define all Path to Purchase revenue as ad hoc, even though we are working with the same clients over year after year. This increase is positive but that does not change our long-term target of increasing recurring revenues as share of total revenues.

Detailed information about segment are found in note 2 on page 11.

 

EARNINGS

The group’s EBIT amounted in the fourth quarter to kSEK -5,305 (-3,605) and earnings after tax amounted to kSEK -6,230 (-2,949).

For the full year of 2019, the group’s EBIT amounted to kSEK -22,921 (-13,251) and earnings after tax amounted to kSEK -22,888 (-13,941).

 

                                        

 

GROUP INCOME STATEMENTS                                                                 

 

kSEK   Oct-Dec 2019 Oct-Dec 2018 Full year 2019 Full year 2018
Net sales   70 520 62 972 263 061 241 485
Other external income   861 926 4 827 3 788
    71 381 63 898 267 889 245 273
           
Direct costs   -16 525 -12 817 -61 041 -58 604
Other external costs   -9 261 -7 502 -34 395 -27 761
Personnel costs   -47 359 -44 885 -183 887 -162 784
Depreciations   -2 176 -1 530 -7 546 -5 314
Other operating costs   -1 365 -769 -3 940 -4 061
Earnings Before Interest and Tax   -5 305 -3 605 -22 921 -13 251
           
Financial income   57 475 2 124 1 571
Financial costs   -1 026 -308 -1 796 -1 273
Earnings Before Tax   -6 274 -3 439 -22 592 -12 953
           
Tax   44 490 -295 -988
Earnings After Tax   -6 230 -2 949 -22 888 -13 941
Profit attributable to the parent company’s shareholders   -6 230 -2 949 -22 888 -13 941
           
           
Number of shares, end of period(pcs.)   7 863 186 7 863 186 7 863 186 7 863 186
Average number of shares during the period(pcs.)   7 863 186 7 303 750 7 863 186 7 187 520
Earnings per share, basic (SEK)   -0.79 -0.40 -2.91 -1.94
Earnings per share, diluted (SEK)   -0.79 -0.40 -2.91 -1.94
             

 

GROUP BALANCE SHEETS

 

ASSETS (kSEK) December 31, 2019   December 31, 2018
Intangible assets 31 618   25 939
Tangible assets 618   742
Financial assets 727   855
Sum non-current assets 32 964   27 536
       
Trade receivables 64 004   49 559
Tax receivables 2 026   2 349
Other current receivables 2 697   2 638
Prepayments and accrued income 17 610   10 848
Cash and cash equivalents 14 629   45 210
Sum current assets 100 966   110 605
       
TOTAL ASSETS 133 930   138 141
       
EQUITY (kSEK)      
Shareholders’ equity 1 573   1 573
Development fund 30 892   24 253
Other capital contributions 116 325   117 534
Translation difference -820   -597
Retained earnings incl. net profit for the period -97 514   -67 987
Total equity 50 456   74 776
       
LIABILITIES (kSEK)      
Deferred Tax 540   540
Total long-term liabilities 540   540
       
Due to customers 26 381   18 044
Trade payables 21 083   15 961
Other current liabilities 12 197   9 579
Accrued expenses, deferred income 23 273   19 241
Total short-term liabilities 82 934   62 825
Total liabilities 83 474   63 365
       
TOTAL EQUITY AND LIABILITIES 133 930   138 141
       
Pledged (kSEK)      
Chattle 14 000   14 000
Total pledged 14 000   14 000
       

GROUP CASH FLOW STATEMENTS

 

kSEK Full year 2019   Full year 2018
Operating activities      
Profit before tax -22 592   -12 953
Adjustment of items not included in the cash flow 6 091   6 433
Income tax paid 28   -2 219
Cash flow from operating activities before adjustments of working capital -16 473   -8 738
       
Cash flow from changes in working capital      
Increase (-) / Decrease (+) of current receivables -21 318   -7 829
Increase (+) / Decrease (-) of current liabilities 20 108   12 013
Cash flow from operating activities -17 683   -4 554
       
Investing activities      
Acquisitions/divestments, tangible assets -394   -228
Acquisitions/divestments, intangible assets -12 679   -9 828
Acquisitions/divestments, financial assets 180   -427
Cash flow from investing activities -12 892   -10 482
       
Financing activities      
Rights issue -6   37 419
Cash flow from financing activities -6   37 419
       
Net cash flow for the period -30 581   22 383
Cash and cash equivalents at the beginning of the period 45 210   22 827
Cash and cash equivalents at the end of the period 14 629   45 210

 

GROUP KEY PERFORMANCE INDICATORS

 

    Oct-Dec 2019 Oct-Dec 2018 Full year 2019 Full year 2018
Net sales growth rate (%)   12.0 2.5 8.9 13.3
EBITDA (kSEK)   -3 129 -2 075 -15 374 -7 937
EBITDA margin (%)   Neg Neg Neg Neg
EBIT margin (%)   Neg Neg Neg Neg
Profit margin (%)   Neg Neg Neg Neg
Total assets (kSEK)   133 930 138 141 133 930 138 141
Equity / Assets ratio (%)   37.7 54.1 37.7 54.1
No. of shares, end of period (pcs.)   7 863 186 7 863 186 7 863 186 7 863 186
No. of shares, average during period (pcs.)   7 863 186 7 303 750 7 863 186 7 187 520
Earnings per share, basic (SEK)   -0.79 -0.40 -2.91 -1.94
Earnings per share, diluted (SEK)   -0.79 -0.40 -2.91 -1.94
Equity per share (SEK)   6.42 9.51 6.42 9.51
Dividend per share (SEK)   n/a n/a 0.001 0.00
No. of employees, average (pcs.)   272 263 274 253

 

Definitions

Net sales growth rate                        Percent of growth in net sales compared to a previous period.

EBITDA                                                     Earnings before interest, taxes, depreciation and amortization.

EBITDA margin                                     EBITDA as a percentage of net sales.                     

EBIT margin                                          EBIT as a percentage of net sales.

Profit margin                                        Earnings before tax as a percent of net sales.

Equity / Assets ratio                           Equity as a percentage of total assets.

Earnings per share                             Profit attributable to the parent company’s shareholders divided by average number
of outstanding shares.

Equity per share                                  Equity divided by number of outstanding shares.                                                       

Dividend per share                             Dividend for the period divided by the number of outstanding shares at the time of dividend.

No. of employees, average             Number of FTE’s on average during the period.

 

____________________________________

[1] Dividend proposed by the Board of Directors.

PARENT COMPANY

 

INCOME STATEMENTS, PARENT COMPANY

 

kSEK   Oct-Dec 2019 Oct-Dec 2018 Full year 2019 Full year 2018
Net sales   - - - 73
Other external income   813 556 2 170 2 018
    813 556 2 170 2 090
           
Other external costs   -769 -491 -2 552 -2 053
Personnel costs   -568 -2 735 -8 175 -10 552
Depreciations   - - - -3
Other operating costs   - - - -3
Earnings Before Interest and Tax   -523 -2 669 -8 557 -10 521
           
Financial income   393 244 901 492
Financial costs   -1 - -2 -0
Earnings Before Tax   -131 -2 425 -7 658 -10 029
           
Tax   - - - -
Earnings After Tax   -131 -2 425 -7 658 -10 029
           
           
                 


BALANCE SHEETS, PARENT COMPANY

 

ASSETS (kSEK) December 31, 2019   December 31, 2018
Financial assets 89 361   63 137
Sum non-current assets 89 361   63 137
       
Trade receivables -   2
Receivables Group companies 3 569   4 095
Tax receivables 208   184
Prepayments and accrued income 393   78
Cash and cash equivalents 629   35 570
Sum current assets 4 799   39 929
       
TOTAL ASSETS 94 160   103 065
       
EQUITY (kSEK)      
Shareholders’ equity 1 573   1 573
Share premium reserve 115 020   115 026
Retained earnings -17 201   -5 969
Net profit for the period -7 658   -10 029
Total equity 91 733   100 601
       
LIABILITIES (kSEK)      
Trade payables 244   421
Other current liabilities 391   359
Accrued expenses, deferred income 1 792   1 685
Total liabilities 2 427   2 465
       
TOTAL EQUITY AND LIABILITIES 94 160   103 065
       
       
       


 

Note 1: Changes in equity in summary

 

THE GROUP (kSEK) Sharehol­ders’ equity Other capital contributions Development
fund
Translation difference Retained earnings incl.
net profit of
the period
Total equity  
THE GROUP 2018              
Opening balance of equity
January 1, 2018
1 430 78 964 18 093 -545 -47 886 50 055  
Net profit of the period - - - - -13 941 -13 941  
Translation difference - - - -52 - -52  
Development fund - - 6 160 - -6 160 -  
Issuance of warrants - 1 294 - - - 1 294  
Rights issue 143 37 276 - - - 37 419  
Closing balance of equity December 31, 2018 1 573 117 534 24 253 -597 -67 987 74 776  
               
THE GROUP 2019              
Opening balance of equity
January 1, 2019
1 573 117 534 24 253 -597 -67 987 74 776  
Net profit of the period - - - - -22 888 -22 888  
Translation difference - - - -223 - -223  
Development fund - - 6 639 - -6 639 -  
Issuance of warrants - -1 203 - - - -1 203  
Rights issue - -6 - - - -6  
Closing balance of equity December 31, 2019 1 573 116 325 30 892 -820 -97 514 50 456  
             
             
                         
PARENT COMPANY (kSEK) Sharehol­ders’ equity Share premium reserve Retained earnings incl. net profit of the period Total equity
PARENT COMPANY 2018        
Opening balance of equity January 1, 2018 1 430 77 750 -7 263 71 917
Net profit of the period - - -10 029 -10 029
Issuance of warrants - - 1 294 1 294
Right issue 143 37 276 - 37 419
Closing balance of equity
December 31, 2018
1 573 115 026 -15 998 100 601
         
PARENT COMPANY 2019        
Opening balance of equity January 1, 2019 1 573 115 026 -15 998 100 601
Net profit of the period - - -7 658 -7 658
Issuance of warrants - - -1 203 -1 203
Rights issue - -6 - -6
Closing balance of equity
December 31, 2019
1 573 115 020 -24 860 91 733

 

Note 2: Segment reporting

 

 

Nepa’s business can be divided into three types of segments; either depending on what the revenue model looks like (revenue type), which solution the revenue stems from, or which country made the sales.

In revenue type, we separate project already sold, either through subscriptions or regular bulk purchases (recurring) and more project-based revenues (ad hoc).

Sales is also split according to the solution used. Nepa’s solutions are Marketing Optimization (MO), Customer Experience (CX), Innovation Acceleration (IA) or Other revenues.

Finally, revenue is split after country.

 


REVENUE TYPE (MSEK)
2019 Share Growth 2018 Share
Nepa Group 263.1 100% 21.6 241.5 100%
    Recurring 159.4 61% 9.6 150.0 62%
    Ad hoc 103.7 39% 12.1 91.5 38%
        Share of ad hoc from recurring clients 61.9 60% 12.2 49.7 54%
        Share of ad hoc from non-recurring clients 41.8 40% -0.1 41.9 46%
Sales to clients buying both recurring & ad hoc1 221.3 84% 21.6 199.7 83%
Sales to clients buying ad hoc only2 41.8 16% 0.0 41.8 17%

Sales of Recurring grew 6% to MSEK 159.4 in 2019. Ad Hoc grew 13% to MSEK 103.7 MSEK in 2019, driven by increased sales to clients that also buys Recurring solutions. The goal is to increase the share of sales of Recurring revenues in order to increase profitability.

 

  Net sales   Gross profit
SOLUTION (MSEK) 2019 Share Growth 2018 Share   2019 Share Growth 2018 Share
Nepa Group 263.1 100% 21.6 241.5 100%   202.0 100% 19.1 182.9 100%
    MO 186.7 71% 19.5 167.2 69%   134.7 67% 14.6 120.1 67%
    CX 24.7 9% 5.2 19.4 8%   22.3 11% 4.9 17.4 11%
    IA 31.6 12% 2.3 29.3 12%   27.2 13% 2.9 24.3 13%
    Övriga 20.3 8% -5.3 25.6 11%   17.3 9% -3.6 20.9 9%
   Eliminations -0.2 0% -0.1 -0.1 0%   0.5 0% 0.3 0.1 0%

In absolute numbers, our MO-solution grew the most in 2019 (MSEK 14.6 in gross profit). In relative numbers our CX solution grew fastest (28% gross profit growth). The goal is to increase the penetration of our solutions to current clients. It provides the benefit for clients with a complete view of their consumers and also gives the right conditions to create growth and profitability for Nepa.

 

  Net sales   Gross profit
MARKET (MSEK) 2019 Share Growth 2018 Share   2019 Share Growth 2018 Share
Nepa Group 263.1 100% 21.6 241.5 100%   202.0 100% 19.1 182.9 100%
    Sweden 168.8 64% 6.9 161.9 67%   131.9 65% 5.6 126.3 66%
    Finland 33.9 13% 4.4 29.5 12%   25.9 13% 5.7 20.3 10%
    UK 32.0 12% 8.0 24.0 10%   24.3 12% 5.2 19.1 13%
    All other markets 28.4 11% 2.3 26.1 11%   19.9 10% 2.7 17.2 11%

All markets grew in 2019, both in terms of sales and gross profit. The highest percentual gross profit growth was in Finland (28%) and UK (27%). Our ambition is to create profitable growth on all markets, where Sweden, Finland and UK are key focus markets.

 

THE BUSINESS

 

 VISION

To become the world leading data-to-growth company.

The digital transformation of our society is pushing companies to become more customer centric. The need to listen to and to understand customers has never been more important for business success. Through innovative solutions and software, Nepa facilitates customer-oriented decision making in all parts of Nepa’s clients’ organizations.

 

BUSINESS CONCEPT

Nepa’s business concept is to help companies become more customer oriented, by bringing the voice of the consumer into companies’ business development and daily decision-making. Nepa combines consumer feedback data with actual behaviour data in order to transform traditional insights into financially quantifiable actions.

 

BUSINESS MODEL

Nepa is a ground-breaking growth company within the research industry that offers innovative solutions and software for delivering actionable insights to clients. Nepa has developed automated processes for continuous data gathering, data analysis and the distribution of actionable insights.

Nepa’s sales strategy entails solving client specific business challenges by utilizing proprietary ready-made and scalable analytics modules that support cost effective customization. Nepa’s revenues primarily stems from recurring revenues, ranging twelve months. More than 60 percent of the revenues stem these from subscription. In addition to that, 60 percent of the ad hoc revenues stem from the same recurring clients

Other revenues stem from solving client specific business challenges, always with the ambition to create a long-term subscription business model and/or to develop highly scalable products that can be applied to other clients and in other industry verticals.

The proprietary platform Consumer Science Platform® is sold as a combination of:

  1. A platform license for managing customer feedback with an interface that automatically enriches clients’ current IT infrastructure with behaviour data.
  2. Standardized products – Consumer Science Platform® Applications Suite.
  3. Solving client specific business challenges. 

 

 

EVENTS AFTER THE END OF THE QUARTER

 

A new top management was appointed. P-O Westerlund was appointed new CEO on January 26 and Ann-Christine Fick as new CFO and member of group management. Michael Wallin was appointed to the new role as Head of Investor relations.

In order to reduce costs, an action program has been completed, involving termination of employees under probationary period, a reduced number of consultants and a salary reduction of 20 percent on group management level.

Global lifestyle and clothing brand GANT chose Nepa as brand tracking provider in all major markets.

Towards the end of February 2020, the new Corona virus caused a dramatic change in sentiment world-wide. For Nepa it has meant that a few clients have reduced their business volume while others have postponed ad hoc projects. It is still too early to be specific about the full effects. However, with the cost cutting measures that has been taken and the company’s stable base of recurring business, these challenges should be manageable.

 

ACCOUNTING PRINCIPLES

The Group accounts have been established according to Swedish GAAP (Årsredovisningslagen and Bokförings­nämndens allmänna råd 2012:1 Årsredovisning och koncern­redovisning (K3)). The Group consists of the parent company Nepa AB (publ) and nine subsidiaries, seven of which non-Swedish. Accounting principles and valuation principles correspond to the ones used in the latest annual report.

 

RISKS AND UNCERTAINCIES

 

Nepa faces several business risks and market risks, including the dependency of qualified personnel, the ability to handle growth and technological develop­ment.

The outbreak of the Corona virus has caused a dramatic change in sentiment world-wide which may affect clients’ willingness to invest.

 

 

AUDITING

 

This report has not been audited by the company’s auditors.

 

THE SHARE

 

The share capital of Nepa AB (publ) amounted, on December 31, 2019, to SEK 1,572,637.20 divided into 7,863,186 shares, each with a nominal value of SEK 0.20.

Nepa AB (publ) is listed on the Nasdaq First North Growth Market stock exchange since April 26th, 2016 under the ticker NEPA.  A trading unit consists of onehundredandten (110) shares. All shares are of the same series and have the same voting rights and dividends rights.

 

 

Ten largest shareholders as of December 31, 2019                                               Number of shares                    Share/Votes

Ulrich Boyer                                                                                                      1,492,624                        19.0%
Swedbank Robur Fonder                                                                                    873,352                        11.1%
Elementa                                                                                                             698,128                          8.9%

Fredrik Östgren                                                                                                   696,178                          8.9%

Humle Småbolagsfond                                                                                       673,329                          8.6%

P-O Westerlund                                                                                                  416,169                          5.3%
AMF Aktiefond Småbolag                                                                                   366,430                          4.7%

Handelsbanken Fonder AB                                                                                 305,185                          3.9%
Hans Skruvfors                                                                                                    225,000                          2.9%

Niclas Öhman                                                                                                      177,481                          2.3%

 

Ten largest shareholders                                                                                 5,923,876                        75.3%

Other shareholders                                                                                          1,939,310                        24.7%
Total number of shares                                                                                   7,863,186                      100.0%

 

CERTIFIED ADVISER

 

Erik Penser Bank is Nepa’s Certified Adviser.

Phone: +46 8-463 83 00

E-mail: certifiedadviser@penser.se

 

 

 

FINANCIAL CALENDAR

Interim report January 1st to March 31st, 2020                             May 20th, 2020

Annual general meeting 2020                                                        May 20th, 2020

Interim report April 1st to June 30th, 2020                                     August 21st, 2020

Interim report July 1st to September 30th, 2020                            November 20th, 2020

Year-end report 2020                                                                      March 19th, 2021


 

CERTIFICATION

 

The Board of Directors and the CEO certify that this interim report provides a correct depiction of the Group’s and parent company’s businesses, standings and results, and that it describes the relevant risk factors and uncertainties the company is facing.

 

 

 

 

Stockholm, March 20th, 2020
The Board of Directors of Nepa AB (publ)

 

 

 

                  Ulrich Boyer                           Bo Mattsson                          Kristin Luck                         Simon Hay          

                        Chairman of the Board                 Board member                                 Board member                             Board member

 

 

                  Jan Carlzon                            Fredrik Östgren                     Niclas Öhman                     P-O Westerlund                                            

                        Board member                                 Board member                                 Board member                             Board member, CEO

 

 

 

 

 

 

 

 

 

 

 

 

 

For further information, please contact:

P-O Westerlund, CEO                            Michael Wallin, Head of IR
+46 706 404 824                                     +46 708 788 019
p-o.westerlund@nepa.com                michael.wallin@nepa.com

 

This is a translation of the Swedish interim report. If there should be any discrepancies, the Swedish language version governs. The Swedish version is information that Nepa 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 persons set out above, at 08:00 CET on March 20, 2020.

Headquartered in Stockholm, with offices in Norway, Finland, Denmark, UK, USA, and India, we help some of the world's most reputable brands in more than 50 countries to optimize customer experience investments and get more effect out of their marketing and sales. Nepa has been awarded DI Gasell's award for organic fast-growing companies six times since 2011. The company is publicly traded at the Nasdaq First North Growth Market stock exchange since 2016. Erik Penser Bank AB is Nepa’s Certified Adviser (phone: +46 8-463 83 00, e-mail: certifiedadviser@penser.se).

About Us

Headquartered in Stockholm, with offices in Norway, Finland, Denmark, UK, USA and India, we help some of the world's most reputable brands in more than 50 countries to optimize customer experience investments and get more effect out of their marketing and sales. Nepa has been awarded DI Gasell's award for organic fast-growing companies in 6 of 7 years since 2011. The company is publicly traded at the Nasdaq First North Growth Market since 2016. Erik Penser Bank AB is Nepa’s Certified Adviser (phone: +46 8-463 83 00, e-mail: certifiedadviser@penser.se).

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