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Interim report 2018-01-01 - 2018-09-30

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Interim report – Summary

Since OmniCar Holding AB was formed in May 2017, no valid comparative figures for the first six months of 2017
are available for the parent company. The 2017 numbers presented include previous marketing services revenue
that no longer is a part of Omnicar’s offerings. Omnicar is now a software company based on recurrent monthly
license revenue. 

Year-to-date (2018-01-01 - 2018-09-30)
•             YTD revenue totalled SEK 9 721 thousand
  • YTD profit/(loss) after financial income and expenses, net amounted to SEK -24 239 thousand 
  • YTD earnings per share* is SEK -1.67 

Q3 (2018-07-01 - 2018-09-30) 

  • •             Revenue totalled SEK 3 395 thousand 
  • •             Q3 profit/(loss) after financial income and expenses, net amounted to SEK  -9 985 thousand 
  • •             Q3 earnings per share* is SEK  -0.69 for the quarter. 
  • •             The solvency ratio** is 82.86% as at 30 September 2018. 

Dear shareholders

First of all I would like to share the key take-aways for the recent quarter 

  • Taking into account that July and August fall within the main holiday season, we are today presenting our best quarterly report ever, our revenue continues to grow and September was our best month this year 
  • Our revenue is now 100% software sales and based on recurrent revenue 
  • Our annual target of 700 customers is on track 
  • Our average software revenue per dealer per month reached a record high this November with an ARPU
    of SEK 1,600

- we believe this amount will continue to grow to SEK 2,000 in January 2019 

Outlook
  • Q4 2018 will reach a revenue in the range of SEK 4 million  

-  up 20% compared to Q3 2018 

  • Our monthly recurrent revenue will reach SEK 2,500 million by December 2019 
  • Omnicar will reach profitability first half of 2020 
Cash flow, dilution and financing
  • We will be cash flow positive in Q3 2019 - we estimate
    that 50% of our revenue in 2019 will be based on a leasing contract where Omnicar will get the first 24-month contract value up front     
  • This means that our need for raising new capital is significantly reduced 
  • We have entered into a short-term loan agreement for
    an amount of SEK 4,5 million     to cover the cost until we
    reach a positive cash flow situation     
    • Cost compared to Q2 and Q3 are on an equal level - but too high compared with our ambitions – the challenges haves been the following: Our software development has been expensive and entering a market that lacked maturity has required significant investment in marketing, development, sales and training 
    • But we are now experiencing a much higher matureness in the market, our solution is more complete and we now see a stronger pull in the market. Consequently, we have this November taken action to reduce our annual costs by SEK 5.5 million – including a 20% staff reduction (five employees) and together with other cost reductions we will see an impact from January 2019
Cost
Final words
  • In my view, Omnicar has never been in a better shape 

than we are in now, we are attracting the high-end car dealer market more than ever and we see how we are increasing our prices. In other words, we need less dealers to reach our revenue numbers

  • Despite the fact that we are such a young company, we have set new guidelines in the auto industry for how a car dealer can improve its service revenue and create loyalty 
  • We also see how many of the established vendors in the auto industry approach Omnicar, realising that Omnicar can add value as well 
  • When we reach profitability in 2020, we have only spent three years to reach that milestone and I have never been more confident than I am today that this mile stone is within a very realistic reach 

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