Shape Robotics presents Annual Report 2022 - Guidance met on all parameters
Company announcement no. 12-23
Copenhagen, March 21, 2023
This announcement contains inside information.
The management and board of directors of Shape Robotics have today approved the annual report for 2022, which will be submitted for approval at the company's ordinary general meeting on 28 April 2023, and can report on high growth in the entire business compared to the same period last year.
The annual report for 2022 can be found on the company’s website.
Management review
Shape Robotics has achieved a remarkable outcome for the fiscal year of 2022, aligning with the targets projected during its listing in the summer of 2020 and the communicated guidance for 2022.
Shape Robotics has maintained its aggressive approach towards establishing strategic partnerships, expanding its global distribution network, and growing its workforce and infrastructure. As a result, the company has seen a significant increase in revenue of 391% and an improvement of approx. DKK 12 million in net result compared to 2021.
With these accomplishments in mind, Shape Robotics remains committed to pursuing a listing on the Nasdaq Main Market this year and has set even more ambitious revenue and EBITDA targets for the fiscal year 2023.
Financial highlights (January 1st – December 31st)
- The Company has realized a YTD revenue of MDKK 87.4 corresponding to a growth of 391% compared to 2021
- Contribution Margin YTD amounts to MDKK 26.5, compared to MDKK 6.3 in 2021
- Contribution Margin in % YTD amounts to 30%, compared to 35% in 2021
- EBITDA YTD is MDKK -0.2, compared to MDKK -15.5 in 2021
- Net result YTD is improved with almost MDKK 12 compared to FY 2021
Guidance for 2022 vs. realized in 2022
Revenue
Guidance: MDKK 81-93
Realized: MDKK 87.4
EBITDA
Guidance: MDKK -2.0 to +2.0 full year, and MDKK +2.0 to +4.0 in 2nd half of 2022
Realized: MDKK -0.2 full year, and MDKK 6.2 in 2nd half of 2022
Preliminary results from the financial year 2022 were published on 24 February 2023. The final audited annual report for 2022 deviates by DKK -0.46 m in EBITDA and net result for the year compared to the interim report and can be attributed to a provision made in connection with the audit.
Outlook 2023
- The Company expects the full year revenue 2023 to be in the range of MDKK 130 to 140 with an EBITDA of MDKK +3 to +5 (bf. non-recurring costs).
Non-recurring costs are related to one-off costs related to the process of up-listing the company on Nasdaq Main Market Copenhagen.
In connection with this Annual Report, Shape Robotics A/S, Shape Robotics Romania S.R.L and Video Technic Systems S.R.L appear as a group.
The consolidated financial statements have been prepared as a summary of the company's and subsidiary's periodic accounts by adding uniform accounting records. The consolidation eliminates intra-group income and costs, shareholdings and internal balances between the consolidated companies.
Newly acquired companies are recognized in the consolidated financial statements from the time when control is obtained according to the "takeover method". Comparison figures have therefore not been corrected.
Additional information and investor relations
André Reinhard Fehrn, CEO
Tlf. (+45) 2444 8556
Email: ir@shaperobotics.com
Rugmarken 18, 3520 Farum, Denmark
CVR-nr. 38322656
www.shaperobotics.com
Certified advisor contact
Grant Thornton