Omnicar Holding AB Covid 19 update

Omnicar Holding AB wish to inform our investors about the business impact caused by the Covid 19 situation

As we have worked hard during Q419 and Q120 to reduce our cost, we feel we are in a favorable and fortunate position compared to many other companies – we are already running on a minimum cost base and as a consequence we are prepared to manage this situation

March month 2020 was our best month here in 2020 and we were on track with the forecasted growth for 2020 – however, the deals we were expecting here in April have all been postponed to Q32020. 

We have not terminated any employees due to Covid 19 situation and we don’t expect to do so.

We will during Q2 2020 work on a simpler company structure and terminate our Swedish subsidiary Omnicar AB. Omnicar AB is a subsidiary of Omnicar Holding AB and represent no revenue and no employees. All sales activities have been transferred to our Danish subsidiary AutoCRM ApS

There is no doubt that the Covid 19 situation will impact the Auto industry severely. But this will on the other hand also give Omnicar Holding AB a unique opportunity to launch our consumer service agreement platform.

Over 60% of all car owners want financial protection against unforeseen cost related to the car ownership and Surveys show that 41% of car owners want a Service Subscription. We expect this is even more relevant now where we might be facing recession

With this initiative we will extend our current marketing and sales channels with a new online commercial platform targeting car owners. It’s an online platform where car owners can find and subscribe to a service contract and other car related services. During Q2 2020, we will run the first beta program to monitor conversion rates. More information will be distributed during Q2 2020

This information is information that OmniCar Holding AB 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, at on April, 9 2020