OptiFreeze updates financial targets
Because of the recently presented strategic partnership with Syngenta (see separate press release of February 19th, 2019), the OptiFreeze board hereby updates the company’s financial targets.
The updated financial targets decided by the board are:
- Five-year annual revenue growth rate is expected to exceed 150% in average
- The gross margin (including both machinery sales and royalties) is expected to exceed 65% within five years
- The company is expected to be cash flow positive during 2020.
CEO Eda Demir Westman comments on the updated financial targets:
“The Syngenta partnership is a clear evidence that our innovative technology attracts interest from leading international companies in the flower industry. This positive development mean that OptiFreeze now enters an entirely different phase. From being a technology developing company, OptiFreeze now enters a commercialization phase which is reflected in the updated financial targets.”
For further information, please contact:
Eda Demir Westman, CEO OptiFreeze AB
Telephone: +46 70 600 67 99
OptiFreeze AB (publ) is obligated to make this information public pursuant to the EU Market Abuse Regulation. The information was submitted for publication, through the agency of the contact persons set out above.