Shape Robotics enters a partnership agreement with Samsung Electronics and increases financial expectations for the year
Company announcement no. 73
Copenhagen, June 21 2022
The announcement contains inside information.
With the goal of facilitating and optimizing technological education in school systems around the world, Shape Robotics has now entered a historic partnership with Samsung Electronics and are increasing the revenue guidance for 2022. Furthermore, the company expects to achieve positive EBITDA in the second half of the financial year 2022.
The agreement between the two leading technology manufacturers means that Shape Robotics will become part of the Samsung distributors' pool in Romania and Bulgaria. Shape Robotics will also act as a Value Added Distributor - developing software for Samsung's products that enables "connectivity" with other relevant technology, including with Shape robotics' own flagship product, the Fable Robot.
The impact of the partnership on the education sector will mean more effective learning of crucial technological skills at all academic levels.
“The need to teach our children new skills for the digital age has never been greater. This is why we are pleased to be able to partner with Shape Robotics who we see as being at the forefront of Edtech solutions and who like ourselves are keen to bring innovative ideas and technology to the classroom to better prepare the next generation.” Simon Jackson, VP European Display Organization, Samsung Electronics
The partnership and distribution agreement with Samsung initially includes Shape Robotics becoming the distributor of Samsung's products for the education sector in Romania and Bulgaria, but the partnership will also include a joint effort to facilitate and deliver technology solutions to school systems in other countries in the Central and Eastern Europe (CEE region). The solutions in the ecosystem will be rolled out in 19 countries in the CEE countries over the next 3 years and expand coverage at European level in the next 5 years.
“We are excited to bring Samsung’s latest technology closer the educational sector and have, as we believe, a real contribution towards its digitalization. Samsung Electronics, as a digitalization trendsetter, with dominant market presence in most of the industry areas, has chosen education as one of the key strategical initiatives. Partnership with Danish company, Shape Robotics, comes at a crucial moment when the demand for EdTech solutions across CEE region is seeing an exponential growth…” Cristian Constantin, Head of Enterprise Business Team & Education Strategy Director CEE, Samsung Electronics
Shape Robotics' outlook for 2022 is raised from DKK 60-70 million to DKK 75-85 million, and the company now expects positive EBITDA in the second half of 2022.
Guidance 2022
Revenue 2022; M.DKK 75-85
EBITDA 2nd half 2022; M.DKK +2 to +4
EBITDA FY 2022; M.DKK -2 to +2
Revenue growth is expected to occur primarily in the third quarter and fourth quarter of 2022 and will therefore not be reflected in the half-year financial statements, where the financial period ends on 30 June 2022.
Additional information
André Fehrn, CEO Shape Robotics A/S
Tlf. (+45) 2444 8556
Email: ir@shaperobotics.com
Rugmarken 18, 3520 Farum, Denmark
CVR-nr. 38322656
www.shaperobotics.com
Certified advisor contact
Norden CEF A/S
John Norden Tel: +45 20 72 02 00
Email: jn@nordencef.dk
www.nordencef.dk
Communication
Gullev & Co. ApS
Boris Gullev
Phone: +45 31 39 79 99
E-mail: borisgullev@gmail.com
www.gullev.co
