Bifogade filer
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Kurs & Likviditet
Beskrivning
| Land | Danmark |
|---|---|
| Lista | First North Denmark |
| Sektor | Informationsteknik |
| Industri | Programvara |
Copenhagen Aug. 25th 2023
The report has not been audited.
Nexcom secures capital structure, significantly reduces debt and maintains financial outlook for the year.
HIGHLIGHTS
- New Chairman of the Board appointed at the annual shareholders meeting. Christian Hein Nielsen is now Chairman.
- The capital increase in March 2023 has been successfully completed and resulted in new shares issued at a share price of DKK 2.50 of an amount of DKK 2,393k including conversion of debt, increasing the amount of shares from 14,066k to 15,024k.
- Revenue outlook for 2023 is maintained to be between DKK 11,000k - 15,000k and EBIDTA outlook between DKK -2,000 - 1,500.
- CX-G, new generative AI platform successfully launched in April 2023, with the potential to reduce manual workload in Contact Centers by as much as 50%. The platform has already generated a significant amount of interest from several potential customers.
- Nexcom acquired the assets of MIRSK Digital in June and strategically important speech-to-text and transcription technology, as well as revenue generating contracts that will take effect in H2.
- Customer loyalty remains high with just 1 contract was not renewed and 97% customer retention
- The revenue declined from DKK 4,258k to 3,688k primarily driven by reduced activity levels with a major account.
- The cost reduction initiatives implemented in H2 2022 had a positive impact reducing EBITDA from DKK -8,884k in H1 2022 to DKK -4,021k in H1 2023, as well as an improvement in cash flow.
Major Activities since EO H1 that is viewed as significant news.
- The capital increase in Aug 2023 has been successfully completed and resulted in new shares issued at a share price of DKK 3,00 of an amount of DKK 10,399k including conversion of debt, increasing the amount of shares from 15,024k to 18,490k
- The company has decreased debt by approx. DKK 9,500k since EO H1 and reported in the financial figures in this announcement.
With regard of the general conditions on the financial markets and the company's ability to fund the growth strategy, Nexcom has adjusted its growth strategy reflecting the changed market situation. The strategy maintains to secure profitable growth and reducing the needed revenue to become cash flow positive by reducing the operating costs of the company, where the adapted strategy includes annualized cost reductions of between DKK 10-11.000k. These cost saving initiatives will continue to impact 2023.
Disclaimer
This report contains forward-looking statements based on management's current expectations. All statements about the future are subject to inherent risks and uncertainties, and many factors can lead to actual results and developments that differ materially from those expressed or implied in such statements.
INCOME STATEMENT H1 2023 [January 1st - June 30st, 2023]
+----------------------+-------+-------+
|MDKK |H1-2023|H1-2022|
+----------------------+-------+-------+
|Revenue |3,688 |4,258 |
+----------------------+-------+-------+
|TOTAL REVENUE |3,688 |4,258 |
+----------------------+-------+-------+
|Personnel |-3,914 |-8,765 |
+----------------------+-------+-------+
|Other external costs |-3,794 |-4,377 |
+----------------------+-------+-------+
|EBITDA |-4,021 |-8,884 |
+----------------------+-------+-------+
|Depreciation |-1,912 |-1,795 |
+----------------------+-------+-------+
|EBIT |-5,932 |-10,679|
+----------------------+-------+-------+
|Financial expenses |-1,086 |-130 |
+----------------------+-------+-------+
|PROFIT/LOSS BEFORE TAX|-7,018 |-10,809|
+----------------------+-------+-------+
|Tax |-17 |-1 |
+----------------------+-------+-------+
|PROFIT/LOSS AFTER TAX |-7,035 |-10,810|
+----------------------+-------+-------+
+------------------------+----------+
|Number of employees |13 |
+------------------------+----------+
|Outstanding shares |15,023,727|
+------------------------+----------+
|Earnings pr, share (DKK)|-0,47 |
+------------------------+----------+
CASHFLOW STATEMENT H1 2023 [January 1st - June 30st, 2023]
+-------------------------------------------------+-------+-------+
|MDKK |H1-2023|H1-2022|
+-------------------------------------------------+-------+-------+
|Profit/loss before financial items and tax (EBIT)|-5,932 |-10,679|
+-------------------------------------------------+-------+-------+
|Depreciation and amortization |1,911 |1,795 |
+-------------------------------------------------+-------+-------+
|Adjustment for other non-cash items |3,127 |4,408 |
+-------------------------------------------------+-------+-------+
|CASH FLOW FROM PRIMARY ACTIVITIES |-893 |-4,476 |
+-------------------------------------------------+-------+-------+
|Financial income received |0 |- |
+-------------------------------------------------+-------+-------+
|Financial costs paid |-211 |-444 |
+-------------------------------------------------+-------+-------+
|Income taxes paid/received |-17 |-1 |
+-------------------------------------------------+-------+-------+
|CASH FLOW FROM OPERATION ACTIVITIES |-228 |-4,921 |
+-------------------------------------------------+-------+-------+
|Payments for intangible assets |-485 |-351 |
+-------------------------------------------------+-------+-------+
|Payments for tangible assets |0 |-2 |
+-------------------------------------------------+-------+-------+
|CASH FLOW FROM INVESTING ACTIVITIES |-485 |-353 |
+-------------------------------------------------+-------+-------+
|Proceeds from capital increase |2,393 |0 |
+-------------------------------------------------+-------+-------+
|Proceeds from short term borrowing |-463 |3,432 |
+-------------------------------------------------+-------+-------+
|Repayment of loans |-400 |-1,226 |
+-------------------------------------------------+-------+-------+
|CASH FLOW FROM FINANCING ACTIVITIES |1,530 |2,206 |
+-------------------------------------------------+-------+-------+
|NET CASH FLOW FOR THE PERIOD |-76 |-3,068 |
+-------------------------------------------------+-------+-------+
+------------------------------------------------------+-------+-------+
|MDKK |H1-2023|H1-2022|
+------------------------------------------------------+-------+-------+
|Cash and cash equivalents at the beginning of the year|453 |3,685 |
+------------------------------------------------------+-------+-------+
|Overdraft at the beginning of the year |0 |0 |
+------------------------------------------------------+-------+-------+
|Net cash flow for the year |-76 |-3,068 |
+------------------------------------------------------+-------+-------+
|Exchange rate adjustments on cash/cash equivalents |0 |2 |
+------------------------------------------------------+-------+-------+
|CASH AND CASH EQUIVALENTS AT THE END OF THE PERIOD |377 |619 |
+------------------------------------------------------+-------+-------+
- The net cash flow has been weakened compared to the same period last year by the delay of the earlier announced capital increase which first ended in the beginning of August 2023.
+------------------------+-------+-------+
|MDKK |H1-2023|H1-2022|
+------------------------+-------+-------+
|ASSETS | | |
+------------------------+-------+-------+
|Intangible assets |16,250 |19,467 |
+------------------------+-------+-------+
|Material assets |43 |106 |
+------------------------+-------+-------+
|Deposit |48 |80 |
+------------------------+-------+-------+
|TOTAL NON-CURRENT ASSETS|16,341 |19,653 |
+------------------------+-------+-------+
|TOTAL CURRENT ASSETS |1,111 |5,232 |
+------------------------+-------+-------+
|TOTAL ASSETS |17,452 |24,885 |
+------------------------+-------+-------+
+------------------------------------+-------+-------+
|MDKK |H1-2023|H1-2022|
+------------------------------------+-------+-------+
|LIABILITIES | | |
+------------------------------------+-------+-------+
|Share capital |7,512 |5,450 |
+------------------------------------+-------+-------+
|Capital increase |1,915 |0 |
+------------------------------------+-------+-------+
|Foreign currency translation reserve|-266 |0 |
+------------------------------------+-------+-------+
|Reserve for development |0 |4,522 |
+------------------------------------+-------+-------+
|Retained earnings |-12,115|-7,226 |
+------------------------------------+-------+-------+
|EQUITY |-2,954 |2,746 |
+------------------------------------+-------+-------+
|Long-term liabilities |14,694 |16,096 |
+------------------------------------+-------+-------+
|Short-term liabilities |4,631 |4,974 |
+------------------------------------+-------+-------+
|Other debt |1,081 |1,069 |
+------------------------------------+-------+-------+
|LIABILITIES |20,406 |22,139 |
+------------------------------------+-------+-------+
|TOTAL EQUITY AND LIABILITIES |17,452 |24,885 |
+------------------------------------+-------+-------+
- The company's total assets amount to DKK 17,452k per June 30st, 2023.
+-------------+-------+-------+----------------+-----------------+------+
|MDKK |Share |Share |Foreign currency|Retained earnings|Equity|
| |Capital|premium|translation | | |
| | | |reserve | | |
+-------------+-------+-------+----------------+-----------------+------+
|Equity |7,033 |- |-407 |-5,080 |1,546 |
|January | | | | | |
|1,2023 | | | | | |
+-------------+-------+-------+----------------+-----------------+------+
|Capital |479 |1,915 |- |- |2,394 |
|increase | | | | | |
+-------------+-------+-------+----------------+-----------------+------+
|Transfer to |- |- |- |- |- |
|reserves | | | | | |
+-------------+-------+-------+----------------+-----------------+------+
|Exchange rate|- |- |141 |- |141 |
|adjustment | | | | | |
+-------------+-------+-------+----------------+-----------------+------+
|Profit/loss |- |- |- |-7,035 |-7,035|
|for the | | | | | |
|period | | | | | |
+-------------+-------+-------+----------------+-----------------+------+
|EQUITY JUNE |7,512 |1,915 |-266 |-12,115 |-2,954|
|30, 2023 | | | | | |
+-------------+-------+-------+----------------+-----------------+------+
- The company's equity totals DKK 2,954k per June 30st, 2023.
The Board of Directors and Management have today considered and approved the interim financial report of Nexcom A/S for the first half year of 2023. The interim financial report has not been audited or reviewed by the company's independent auditors.
The interim financial report for the first half year of 2023 has been prepared in accordance with the provision of the Danish Financial Statements Act for Accounting Class B with the option of certain principles for Accounting Class C and additional disclosure requirements for companies admitted to trading on Nasdaq First North Growth Market. The accounting policies adopted are consistent with those applied in the annual report 2023.
In our opinion the accounting policies applied are appropriate to the effect that the interim financial report gives a true and fair view of the company's assets, liabilities, cashflow and financial position on June 30st, 2023. Furthermore, in our opinion, the Management review gives a true and fair view of the development in the activities and the financial situation, the financial result for the period and the financial position of the company, Nexcom.
Risks and uncertainties have not changed in relation to the conditions mentioned in the company description prepared in connection with Nexcom share listing on Nasdaq First North Growth Market, Copenhagen. The annual report 2023 and the company description is available at nexcom.dk.
Copenhagen August 25th, 2023
MANAGEMENT
Rolf Adamson
CEO
BOARD OF DIRECTORS
Christian HeinPia Gardø RiiseCharlotte Enlund
Chairman