Realfiction Holding AB announces its Q1 Interim Report for January – March 2021
The company announces that the Q1 Interim Report for January – March 2021 is now available. The full report is attached as a separate document and can also be downloaded from the company’s website (www.realfiction.com). A printed copy can be ordered via investor@realfiction.com. Below is a brief summary of the Q1 Interim Report.
Important key figures:
• 52% decline in total revenue Q1, 2021 compared to Q1, 2020
• 54% decline in gross profit in Q1, 2021 compared to Q1, 2020
• 3.9% decrease (2.1 points) in gross profit margin in Q1, 2021 compared to Q1, 2020
• Net operating cost savings of TSEK 2,353 (49%) in Q1, 2021 compared to Q1, 2020
• Solvency ratio of 85.9% at 31 March 2021 compared to 84.0% at 31 December 2020
During and after the period, Realfiction has experienced both positive and negative development in its business, including:
Project ECHO: In January, we presented positive results from the feasibility study on the crucial backplane component of ECHO. The new simplified approach that was pre-validated during the study will allow for a sleeker form factor while making ECHO easier and thus even cheaper to manufacture. It will also enable us to progress with multi-user versions based on both LCD and OLED display technology. We have also added three additional European collaboration partners. These research and development organizations, including access to foundry facilities, bring expertise in the fields of nanoelectronics, organic semiconductors and digital technologies. In addition to our research and development progress for ECHO during the period, we are also in planning mode with relevant commercial display manufacturers, as we seek to take the most efficient route to market, while also minimizing the risk of setbacks along the way.
MaaS for Retail and Exhibitions, and Experience (Hardware): Even though we are still impacted by COVID-19, the positive indications with an increasing number of requests for rental and sales of systems in the Exhibitions and Retail segments mentioned in the Q4, 2020 report are now starting to be converted into actual orders. As an example of this, we received an order after the end of the period for 49 Dreamoc HD3 units to an international marketing campaign for a global technology company.
CEO Clas Dyrholm comments: “We continued to deliver strong progress in the development of ECHO, our novel 3D holographic display technology, during the first quarter, and we are still on track to complete the integration license package before the end of Q1, 2022. It is also promising to see continued positive indications for our Sales Activities. It is worth noting that with our simplified go-to-market approach, our Sales Activities will be able to reach break-even faster than with our previous approach.”
We highlight the following key figures from the Q1 Interim Report:
• Revenue: TSEK 1,691 (Q1, 2020: TSEK 3,539)
• Gross profit: TSEK 876 (Q1, 2020: TSEK 1,906)
• Gross profit margin: 51.8% (Q1, 2020: 53.9%)
• Result after financial items: TSEK -1,620 (Q1, 2020: TSEK -2,915)
• Earnings per share: SEK -0.06 (Q1, 2020: –0.16)
• Cash flow from operating activities: TSEK -2,824 (Q1, 2020: TSEK -1,373)
For more information about Realfiction Holding AB, please contact:
Clas Dyrholm, founder and CEO
Telephone: +45 25 22 32 81
Email: clas@realfiction.com
www.realfiction.com
Certified Adviser
Mangold Fondkommission AB is the company's Certified Adviser and can be contacted via ca@mangold.se or +46 8 503 015 50.
This information is information that Realfiction 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 07.00 CEST on 27 May 2021.
About Realfiction Holding AB
Founded in Denmark in 2008, Realfiction is a leading innovator and provider of Mixed Reality solutions and services, a market estimated to reach USD 80 billion by 2025. Realfiction continues to invent technologies within Mixed Reality, with an intention to disrupt the industry by pursuing the vision of converting science fiction into real fiction. Realfiction Holding AB’s share is publicly traded on Nasdaq First North Growth Market under the symbol “REALFI”. The share’s ISIN code is SE0009920994.
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