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09 Nov, 2021  ·  Regulatory information

Bioservo Technologies AB Interim Report January – September 2021

Third quarter in figures

  • Net sales of SEK 2.3 M (1.8)
  • EBITDA of SEK -5.1 M (-4.8)
  • EBIT of SEK -6.3 M (-5.8)
  • Earnings for the period amounted to SEK -6.3 M (-5.8)
  • Earnings per share before and after dilution amounted to SEK -0.40 (-0.41)
  • Cash flow from operating activities for the period amounted to SEK -7.4 M (-1.0)


First nine months in figures

  • Net sales of SEK 4.8 M (9.6)
  • EBITDA of SEK -22.5 M (-15.2)
  • EBIT of SEK -26.2 M (-18.2)
  • Earnings for the period was SEK -26.2 M (-18.2)
  • Earnings per share before and after dilution amounted to SEK -1.65 (-1.27)
  • Cash flow from operating activities for the period amounted to SEK -25.8 M (-13.3)
  • On 30 of September, cash and cash equivalents were SEK 61.3 M (42.9)


Significant events during the period

  • During the period, a directed new share issue was carried out and SEK 36.3 million was added to the company before transaction costs. The issue was conducted to strengthen Bioservo's commercial ability to carry out successful launches.
     
  • Bioservo has started delivering Ironhand 2.0 to distributors and customers. The majority has been delivered to EUROPE TECHNOLOGIES GOBIO, with which Bioservo has an agreement to purchase 100 Ironhand® systems to a value of SEK 4.2 million over a period of ten months.
     
  • The preparations for an international launch of the next generation of Carbonhand® in 2022 is progressing. As part of our strategy to strengthen the network of distributors in selected markets, we will use the international trade fair Medica 2021 in Germany in November as a starting point.
     
  • Madeleine Börjesson appointed as new CFO and member of the management team. Madeleine succeeds Jacob Michlewicz, who has been interim CFO until now. Madeleine has a bachelor's degree in business administration from the University of Gothenburg and has long and broad experience of leading international financial teams.


Events after the end of the period

  • Bioservo is initiating a research project to investigate how brain activity is affected by the use of a soft active exoskeleton, and thereby potentially improve rehabilitation for stroke patients. The project is a research collaboration between Bioservo Technologies, Aleris Rehab Station Stockholm, Karolinska Institute and the Royal Institute of Technology.

  

For further information please contact:

Petter Bäckgren, CEO
petter.backgren@bioservo.com

+46 8 21 17 10

or

Madeleine Börjesson, CFO
madeleine.borjesson@bioservo.com

+46 8 21 17 10

Note: This information is such as is required by Bioservo Technologies AB under the EU Market Abuse Regulation. The information was submitted, through the care of the above person, for publication on 9 November 2021 at 08:30 (CET).


About Bioservo Technologies

Bioservo Technologies AB (publ) is a world leading company in wearable muscle strengthening systems for people in need of extra strength and endurance. All our innovative products and systems are designed to keep people strong, healthy and efficient.

The company has a unique global position within soft exoskeleton technology for the hand, both for industrial applications to improve the health for workers and to improve quality of life 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 University Hospital. Bioservo Technologies is a Swedish public limited company with headquarters in Stockholm.

FNCA Sweden AB, +46(0)8-52800399, info@fnca.se is the company’s Certified Adviser on Nasdaq First North

For more information, please visit www.bioservo.com