Omnicar Holding Q3 2020 report

Please find below our Q3 2020 report

Headlines:

• Revenue totalled SEK 2.568 thousand
• Q3 profit after financial income and expenses, net amounted to SEK 379 thousand
• Q3 earnings per share* is SEK 0.02 for the quarter

We are pleased to report our third consecutive quarter in the black. We have maintained and strengthened our financial stability and are now gearing up our business with the previously announced business line Omnicarservice. Car service at your home or at work.
 

During the first month of operation we had 96 customers. This number exceeded our expectations by 50% and we are day by day experiencing growing demand for our services. We are very confident about this business line and its future growth potential.The feedback we get is amazing as are the reviews from customers on Trustpilot. Have a look on www. omnicarservice.dk. This is both encouraging and motivating.

Over the next few months we will work on profitability and KPIs such as customer acquisition cost and customer order size. Our initial promotional activities (50% off your first service) terminated effective 1 November and we no longer discount our services. We wish to keep the number of employees to a minimum. That requires a high level of customer self-service on the digital platform. Also, our IT infrastructure needs to be scaled up in order to handle the increase in demand and keep the number of administrative staff to a minimum.

Claus T. Hansen

CEO
cth@omnicar.dk