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24 Aug, 2018

Interim report, January-June 2018

Second quarter in figures 

  •  Net sales rose to SEK 1.6 M (0.6)
  •  EBITDA amounted to SEK -4.0 M (-4.7)
  •  EBIT totalled SEK -4.7 M (-5.1)
  •  Loss for the period was SEK -4.7 M (-6.0)
  •  Loss per share before and after dilution amounted to SEK -0.52 (-0.67)
  •  At 30 June, cash and cash equivalents were SEK 41.6 M (63.3).

First half-year in figures 

  •  Net sales rose to SEK 3.0 M (1.5)
  •  EBITDA amounted to SEK -9.0 M (-7.3)
  •  EBIT totalled SEK -10.5 M (-8.0)
  •  Loss for the period was SEK -10.5 M (-8.9)
  •  Loss per share before and after dilution amounted to SEK -1.18 (-1.0)*
  •  At 30 June, cash and cash equivalents were SEK 41.6 M (63.3).

* Adjusted for 5:1 stock split in March 2017

Significant events during the period 

  •  The EU awarded Bioservo a research grant of EUR 2.3 M
  •  CEO Erik Landgren announced that he would be stepping down from his position to take on a new role in a major international company.

Events after the end of the period 

  •  Petter Bäckgren, former CEO of Kibion, was appointed new CEO and will assume his position on 3 September.
  •  Bioservo receives an initial order regarding Ironhand from existing international customer in the automotive sector.

CEO Erik Landgren comments on the second quarter of 2018

The second quarter of the financial year proceeded as planned and we noticed a continued growing interest in Ironhand, Bioservo’s soft extra muscle robotic system for professional users, following the launch at the end of the first quarter. We have continued to adapt the organisation for the increase in sales that will commence in the second half-year by outsourcing production to a partner during the year, and by strengthening the organisation in sales and marketing, and in development. Sales rose 167% during the quarter, mainly driven by strong sales performance for the Carbonhand medical device in Sweden, Norway and Germany.

Kista, August 24, 2018

For further information please contact:

Erik Landgren
CEO
erik.landgren@bioservo.com
+46 8 21 17 10

or

Maria Myräng
CFO
maria.myrang@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 and the Securities Market Act. The information was submitted, through the care of the above person, for publication on August 24, 2018 at. 08:30.

Bioservo Technologies in brief

Bioservo Technologies (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 optimise the body’s endurance and performance, or for people with reduced muscle strength.

After many years of research and development, Bioservo Technologies is now focused on a commercialisation of the company’s products and patented technologies. The gloves are well-suited to medical rehabilitation, and to preventive use by healthcare professionals. The company has signed strategic cooperation agreements with several multinational companies within e.g. the automobile, aviation as well as the construction and infrastructure industry.

Bioservo Technologies was founded in 2006 through a collaboration between researchers at the Royal Institute of Technology and doctors at Karolinska University Hospital in Stockholm. Bioservo Technologies is a Swedish public limited company with its headquarters and operations based in Kista, north of Stockholm.

For more information, please visit www.bioservo.com 

Certified Adviser 

FNCA Sweden AB is Bioservo’s Certified Adviser.