Camanio Care publishes interim report January-June 2019
The complete interim report is available as a PDF on the company website www.camanio.com. It is also attached to this press release.
Summary
Figures in parentheses refer to the corresponding period during the previous year, unless otherwise is stated.
1 APRIL – 30 JUNE 2019
1 Total revenue for the period amounted to kSEK 1,929 (kSEK 2,739)
2 Net sales for the period amounted to kSEK 1,721 (kSEK 1,204)
3 Operating profit/loss was kSEK -5,505 (kSEK -4,562)
4 Profit/loss after financial items was kSEK -5,977 (kSEK -4,762)
5 Earnings per share amounted to -0.12 kr (SEK -0.28)
6 Equity in the Group at 30 June amounted to kSEK 11,982 (31 Dec 2018; kSEK 3,386)
7 Liquid assets in the Group at 30 June amounted to kSEK 812 (31 Dec 2018; kSEK 2,451). Liquidity amounted to 23% (31 Dec 2018; 94 %)
8 The equity ratio was 52% (31 Dec 2018; 11%)
9 The number of shares at the end of the period was 48,669,730 (30 June 2018; 16,674,539)
1 JANUARY – 30 JUNE 2019
10 Total revenue for first half-year of 2019 amounted to kSEK 6,399 (kSEK 5,216)
11 Net sales for first half-year of 2019 amounted to kSEK 5,584 (kSEK 3,135)
12 Operating profit/loss was kSEK -9,335 (kSEK -8,308)
13 Profit after financial items amounted to kSEK -9,838 (kSEK -8,596)
14 Earnings per share amounted to SEK -0.20 (SEK -0.51)
Significant events since the end of the period:
23 July Camanio Care and Bay Oaks Historic Retirement Residence bring first-of-its-kind care technology to South Florida
22 July Camanio Care strengthens liquidity through directed set-off issue
5 July Camanio Care signs agreement with Vardaga, a large Nordic corporate group within elderly care
A word from the CEO
Camanio continues its growth journey and the net sales increased by 43 percent during the second quarter compared to the same period the previous year. The increase was in part driven by deliveries of our very appreciated digital therapy pets and in part by orders for the BikeAround. During the period we received our largest order ever for BikeAround Screens to Australia. We continue to invest in the development of our digital care platform Vital Smart Care, which shows in the operating profit.
One important milestone is the deal we signed in July with Vardaga, a large Nordic group specializing in elderly care. The deal is for delivery of welfare technology for senior care homes and comprises several services in the Vital Smart Care platform, which is a digital care platform for delivering care services in the home. The services are in part developed by Camanio Care and in part delivered by our partner in this venture (Nectarine Health). The value of the deal is approximately five million SEK over a period of three years. This cooperation shows that we are on the right way and that Camanio Vital Smart Care is a competitive and desirable digital care platform that also fits perfectly as an IoT solution for assisted living facilities.
Our mission
Camanio Care offers smart solutions for digital home care. Our solutions increase the availability, quality and efficiency in home care. Today we offer an attractive and complete solution for welfare technology with the Vital Smart Care platform, BikeAround, Bestic and Giraff. We complement these with chosen products from other suppliers, such as our digital therapy pets. Our vision is to optimize the mix between physical and digital care. We are driven by our values to ensure safety, good quality of life, dignity and independence for the individual. Our ambition is to become world leading in welfare technology through cooperating with care organizations and contributing to their digitalization.
Development of our offering
Vital Smart Care is our digital service platform that ties together future care services in the home. Through Vital Smart Care we will connect our services and products to each other and to the cloud, gladly through 5G. This means that in the future, we can gather data from an ecosystem of different sensors such as alarms, cameras, locks, stove guards and aids. We believe in data collection for an efficient and dignified home care.
Multiplying revenue during the coming years
Camanio Care has a leading role in digitalization of home care. We have an interesting product offering with internationally competitive solutions, and we have just started our commercialization journey. As has previously been communicated, the board of directors are of the opinion that the company is correctly positioned to multiply the net sales during the coming years. The judgement is based on the fact that care organizations continue to increase the investments in welfare technology, and of course that we have continued access to capital and keep investing in a competitive offering of products and services.
The company continues to work with the financing of the operations. Our largest shareholder has given the company a guarantee of liquidity, where the company has the possibility to loan money based on liquidity demands during 2019.
Catharina Borgenstierna
CEO of Camanio Care
Contact
Camanio Care AB, Hästholmsvägen 32, 131 30 Nacka
+468-12 44 88 55 | info@camanio.com| Org.number: 556761-0307
About Camanio Care
Camanio Care is a digital care technology company developing smart solutions for home care centered around the individual. Our platform and digital services connect people, professionals and equipment in an easy and open way in order to achieve the optimal mix of digital and physical care. We increase the quality of care and quality of life, making care more readily available to all the people who need it. Camanio Care is headquartered in Stockholm, has the subsidiary Camanio Care Inc. in the U.S., and distributors in Asia, Middle East, Hongkong, Australia and tens of European countries.
Visit our website and subscribe to our newsletter, www.camanio.com.
This information is information that Camanio Care is obliged to make public pursuant to the EU Market Abuse Regulation and the Securities Markets Act. The information was submitted for publication, through the agency of the contact persons set out above, on 28 August 2019..