Interim report Q2, 2024
Second quarter
- Net sales amounted to SEK 2.8 (4.4) million
- EBITDA amounted to SEK -3.7 (-1.8) million
- EBIT amounted to SEK -11.2 (-31.4) million
- EBT amounted to SEK 93.9 (-32.2) million
SpectrumOne AB sells more than 50 % of its shareholding in Eniro Group AB to industrial partner Azerion Group N.V. at a price of SEK 0.90 per share
SpectrumOne continues to execute on its strategic direction – divests its shares in BizWell Sweden AB
CEO STATEMENT
Dear Shareholders,
As we embrace the summer season, I hope everyone is finding time to relax, enjoy the sunshine, and spend quality moments with friends and family.
I would like to take this opportunity to provide a brief update on our recent activities and progress during Q2. Additionally, I invite you to join us for a shareholder update meeting at the beginning of September, where we will offer more detailed insights into our ongoing activities and progress, continuing our commitment to transparency and good communication.
Since assuming the role of CEO, it has become evident that our organization must streamline operations, reduce costs, and eliminate non-performing areas. Our focus will be on our strengths and core areas, developing them to their full potential and advancing in a more strategic manner.
During Q2, we have concentrated on our core areas, particularly with Cloud Explorers and Qbim. Both organizations are dedicated to providing SaaS-based product solutions to the rapidly expanding market of data insights, analysis, and AI-related solutions.
Qbim has been committed to maintaining strong revenue streams, increasing client projects, and transforming into a SaaS-based product delivery company. We look forward to sharing more details about their progress in August and at our September meeting.
Cloud Explorers has been working intensively with its two main partners, D&B and Tietoevry. PRISM, our flagship product, has gained unique features that distinguish it from competing solutions. PRISM now offers a wider range of solutions, including comprehensive vehicle, business, and property data. This new release has generated significant interest, with August already booked with numerous client meetings and sales activities, including a second webinar with Tietoevry. We anticipate strong results in Q3.
Our strategic actions related to Eniro have also strengthened our financial position, enabling us to further develop and maximize the commercial success of our core businesses, Qbim and Cloud Explorers.
I look forward to reconnecting with you all after the summer and am excited to present more detailed information at our next meeting regarding our client activities, increased sales efforts, and the growing market interest in our offerings.
Yours faithfully,
Stephen Karl Ranson
CEO, SpectrumOne AB
For further information contact:
Stephen Ranson CEO
+47 99288 221,
stephen@spectrumone.com
Certified Adviser:
Aktieinvest FK AB (556072-2596)
Box 7415 103 91 Stockholm
Telefon: +46 8 506 517 03
ca@aktieinvest.se
www.aktieinvest.se
SpectrumOne AB (publ) is obligated to publish this information under the EU Market Abuse Regulation. The information was provided by the above contact person's auspices, for publication on July 22, 2024 at 8.30 a.m. CET.
This report is to be found on our webpage (https://spectrumone.com/investor/reports-and-presentations/)
About SpectrumOne AB
SpectrumOne is a leading technology company delivering an advanced Data Management, Analytics & Communications platform suite. Offered in a SaaS online service shipping with rich market data from various professional providers, SpectrumOne provides a unique solution to many leading actors across industry segments in various countries. Enabling clients with fast and easy access to data insight and visualization coupled with powerful search, segmentation, and mapping features. SpectrumOne allows data to be quickly enabled and operationalized, driving activities from customer communication to data science supporting business analysis, strategy, and growth. All of which can be enabled the same day with immediate results. SpectrumOne´s headquarter is based in Stockholm, Sweden, responsible for Nordic sales and strategy, with additional sales and business development located in Norway, Finland and Belgium. SpectrumOne is listed on Nasdaq First North Growth Market in Stockholm.