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82 Ironhand[®] systems delivered to Loxam

Increasingly scientific support for Bioservo's grip-strengthening glove (regulatory information)

World’s first soft robotic muscle strengthening system. Developed in collaboration with leading Fortune 500 companies


21 Feb, 2020  ·  Regulatory information

Bioservo Technologies AB Year-End, 1 January-31 December 2019


Fourth quarter in figures

  • Net sales of SEK 2.4 M (2.8)
  • EBITDA of SEK -5.5 M (-4.0)
  • EBIT of SEK -6.6 M (-4.9)
  • Earnings for the period were SEK -6.6 M (-10.6)
  • Earnings per share before and after dilution amounted to SEK -0.52 (-1.19)
  • At 31 December, cash and cash equivalents were SEK 56.9 M (25.6)

Full year in figures

  • Net sales SEK 9.3 M (6.7)
  • EBITDA of SEK -19.4 M (-18.9)
  • EBIT of SEK -23.2 M (-22.2)
  • Earnings for the period were SEK -23.2 M (-27.9)
  • Earnings per share before and after dilution amounted to SEK -2.35 (-3.12)
  • At 31 December, cash and cash equivalents were SEK 56.9 M (25.6)

Significant events during the period

  • The proceeds from the Rights issue of 58.4 MSEK net of issue costs strengthened the company's financial position. The rights issue was registered with the Swedish Companies Registration Office and the paid subscribed shares ("BTA") were converted into shares as of Monday, October 28, 2019.
  • Bioservo entered into a collaboration with Ericsson to primarily promote Ironhand® at major international exhibitions and events and to demonstrate in real-time the future possibilities of connected products through fast and stable networks.
  • Bioservo’s French development partner Eiffage received additional three awards for its work with Bioservo’s robotic glove Ironhand®.
  • Rhino Assembly, Bioservo’s distributor in the United States, received an order on Ironhand® worth half a million SEK from a company within the digital industrial sector. 
  • Bioservo concluded a successful long-term trial with Ironhand® at Toyota Motor’s North American plants in Kentucky and West Virginia. The result from the trial shows an evident reduction of risk for strain injuries according to HAL/TLV, a scientific risk assessment method. Toyota has decided to continue with new Ironhand trials which are planned to be initiated during the first half of 2020.
  • Loxam committed to purchasing one hundred Ironhand® systems from Bioservo Technologies within 2020 for a nationwide roll-out across France. 

Events after the end of the period

  • Loxam placed orders for their first 82 Ironhand® systems at an order value of MSEK 5.6. The systems will be available for rental in 15 cities across France, fulfilling the demand for increased safety of workers across the country.
  • Launch of Ironhand® 1.6 for an optimized user experience. The new Ironhand allows the operator to configure the glove to fit the work situation at hand, it comes with a new glove for improved comfort and additional carrying solutions for ergonomic adaptions.

For more information, please contact
Petter Bäckgren, CEO of Bioservo Technologies AB
Phone: +46 (0)8 21 17 10

The information in this press release is such that Bioservo Technologies AB (publ) is obliged to publish in accordance with EU Regulation on Market Abuse (MAR). The information was submitted for publication through the agency of above contact persons for publication on 21 February 2020 at [8:15] a.m. CEST.

About Bioservo Technologies
Bioservo Technologies AB (publ) is a technology and development company that combines medical science with modern robotics. The company holds a leading global position within soft exoskeleton technology – wearable non-invasive devices – for people in need of extra power to optimize the body’s endurance and performance, or for people with reduced muscle strength.

Bioservo Technologies was founded in 2006 in collaboration between researchers at the Royal Institute of Technology and a doctor at Karolinska Hospital. Bioservo Technologies is a Swedish public limited company with headquarters in Stockholm.

FNCA Sweden AB, +46(0)8 528 00399, is the Company’s Certified Adviser on Nasdaq First North Growth Market.

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