First half year 2023 - compared to first half year 2022

Group revenue have been limited in both years.
Operating profit amounted to -4 558 675 SEK (-5 131 108 SEK).
Earnings per share -0,40 SEK (-0,48 SEK).
 

Key figures (SEK)

2023 Group 2022 Group
Net sales, SEK 587 982 43 88
Operating profit, SEK -4 558 675 -5 131 108
Earnings per share -0,40 -0,48
Equity per share -0,24 0,54
Outstanding shares 11 988 295 10 610 277
Solidity (%) 23,58  61,61

CEO Helge Trettø Olsen comments:

The first half of the year resulted in a series of accomplishments that further solidified our position in the market. Our most important achievement was laying the foundations for the historic alliance for ocean sustainability, formed in collaboration with the Azores government and its "Regional Directorate for Fisheries". A pivotal moment was marked in early August when the Secretary of the Sea and Fisheries, Manuel Sao Joao, made the commendable decision to equip all licensed traps and gillnets in the autonomous region of Azores with our Resqunit technology.

Main events during H1 2023

- Distribution agreement with Ad Mare Solutions Lda to bring Resqunit Trap Recovery System to the Portuguese market.
- Significant milestone in its global expansion strategy with the signing of a distribution agreement with Intermas Group.
- Directed private placement of SEK 3.75 million to the institutional investors DSD AS and MIF Marine Invest.
- Initiating regulatory approach in the autonomous region of Azores (resulted in specific action after the period).
- Relocation of our product manufacturing from China to Portugal in July 2023, closer to core markets, and with significant cost savings in both manufacturing and shipping.
- A long with scientific testing and analysis of our product in main markets, operations in Jamaica and other regions has been thriving during this first half year, with increased deliveries and adoption by both local fishermen and the government.