Year-end report for QuickBit eu AB (publ) for the fiscal year July 2017-June 2018
SUMMARY FROM QUICKBIT FOR THE FISCAL YEAR 2017-07-01-2018-06-30:
Net sales, SEK, 6,737,000
Profit after net financial items SEK -7,556,000 (-341 000)
Solidity 66% (89%)
Net earnings per share, SEK: -0.13 (-0,065)
Significant events during the year
During the current fiscal year, the company has developed and launched a technical platform for real-time cryptocurrency trading. QuickBit's solution has been integrated with card acquisition systems and has built-in automatic trading against cryptocurrency exchanges, which minimizes the company’s risk exposure.
In addition, in the first half of 2018, the company recruited an experienced management team and built up operations in Gibraltar. The establishment in Gibraltar means that the company’s operational activities are being deployed to the territory, while financial functions and IR remain in Sweden.
QuickBit has purchased Rockmint Limited in Gibraltar, providing access to both proven software with credit card fraud control algorithms and a customer database that complements and adds additional quality to the company’s own system, as well as access to thousands of customers.
Events after the end of the fiscal year
After the end of the fiscal year, during the quarter of July to September 2018, the company has concluded a test phase with affiliated companies and has seen a strong growth in volume. The outcome of this will be apparent in the first quarterly report during the new fiscal year.
Comments from the Managing Director
”The business year has been characterized by improving systems and management structure, the establishment of the company’s operational operations in Gibraltar, launching with pilot clients and working with them to complete our systems, as well as preparations for listing the company on an appropriate exchange.
Sales growth has not gone as well as we expected in the beginning of the year, but as the company’s system has been completed and gained confidence from pilot clients, the number of transactions has risen sharply at the end of the fiscal year, and we saw the beginning of a good trend. This will clearly be reflected in the forthcoming interim report for July to September 2018. This also means that we are very optimistic about the future development of the company.”
Jörgen Eriksson, CEO, QuickBit eu AB (publ)
The year-end report is available (in Swedish) at: https://investor.quickbit.eu/assets/pdf/investors/2017-07-01-2018-06-30.pdf
For more information, please contact:
Jörgen Eriksson, Managing Director, QuickBit: jorgen.eriksson@quickbit.eu, +46 70-681 2777