ZWIPE AS – Publication of second half-year 2020 report
OSLO, NORWAY – 25 February 2021 – Zwipe AS today publishes its second half-year 2020 report.
Summary Financial development for second half-year:
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Revenues of MNOK 1.0 (MNOK 1.2).
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Operating expenditures were reduced to MNOK 31.3 (MNOK 60.2). In constant currency, this represents a 49% reduction. The reduction is due to cost of MNOK 19 in H2 2019 related to the jointly funded development collaboration with Idemia, as well as savings as a result of the streamlining program announced in November 2019.
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EBITDA improved to MNOK -29.1 (MNOK -56.6) mainly due to the implementation of the streamlining program.
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Results before tax was MNOK -30.4 (MNOK -58.8), and earnings per share of NOK -0.93 (NOK -3.69).
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Cash flow from operations for the second half-year of MNOK -20.1 (MNOK -51).
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The Board of Directors proposes that no dividend be paid for 2020.
The annual report 2020 will be released through a separate stock exchange announcement shortly after this announcement.
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About Zwipe
Zwipe is pioneering the next generation contactless payments experience, providing biometric payment cards components and wearables technology that enable consumers to authorize transactions with their fingerprints without compromising their privacy. Together with an ecosystem of partners including global brands within digital security and financial services, Zwipe is "Making Convenience Safe & Secure" for banks, merchants and consumers. Zwipe's solutions address the hygiene and data theft pitfalls inherent in traditional authentication methods. Headquartered in Oslo, Norway, with a global presence, Zwipe is leading the next great shift in payments from contactless to contact free. To learn more, visit www.zwipe.com
For more information, please contact:
Lars Kristian Solheim, CFO
+47 991 661 35
lars.kristian@zwipe.com
This is information that Zwipe AS is obligated to make public pursuant to the continuing obligations of companies admitted to trading on Euronext Growth Oslo, Nasdaq First North Growth Market and the EU Market Abuse Regulation. Certified Adviser on Nasdaq First North is FNCA Sweden AB, info@fnca.se, +46 (0)8528 00 399. The information was submitted for publication, through the agency of the contact person set out below, at 08:00 CET on 25 February 2021.
