Beskrivning
| Land | Danmark |
|---|---|
| Lista | First North Denmark |
| Sektor | Finans |
| Industri | Övriga finansiella tjänster |
6.12.2024 18:48:20 CET | SPARK Technology A/S | Interim information
Company Announcement No. 141
The SPARK Technology A/S Group (Nasdaq First North Growth Market Copenhagen: SPARK) reports the following financial highlights:
In H1 2024 the gross revenues decreased to DKK 54,6 million from DKK 93.9 million in H1 2023.
Kazang contributes the most to revenues, adding DKK 54.0 million to the group’s gross revenue for the period. Other revenues are represented by the group's other subsidiaries.
For H1 2024, EBIT resulted with a loss of DKK 18.9 million, an improvement from H1 2023 with its loss of DKK 26.5 million, driven by increased in other income and a decrease in employee expenses.
Kazang Zambia revenues decreased from DKK 91,1 million H1 2023 to DKK 54,0 million. EBIT for H1 2024 was a loss of DKK 2.0 million, compared to DKK -4,0m in last year.
With the onset of 2024, SPARK Technology A/S stood at a crucial crossroads. Over the past year, we have implemented significant strategic changes that have reshaped the direction of the company. The most notable was the divestment of our subsidiaries, a move reflecting our adaptability to changing market conditions and our commitment to maximizing shareholder value.
Following this divestment, the company has undergone rebranding and now operates under the name SPARK Technology A/S. This new identity signals a renewed commitment to innovation within financial technology and inclusion, reflecting our ambition to be a catalyst for change in the sector.
Looking forward, the investment opportunity to acquire Acceleum Technology as was announced on the 14th of May 2024 to jointly launch their micro+investment and micro+pension platform and “The Acceleum Game” is still worked on. This and potential future agreements are subject to satisfactory due diligence and approval from the General meeting of SPARK Technology A/S.
SPARK Technology will seek to build on the strong foundations it has established and explore other strategic partnerships and collaborations that can accelerate our growth and extend our reach and to navigate the dynamic landscape of global finance.
We look forward to a year filled with opportunities and are thankful for the ongoing trust and support from our shareholders and partners as we embark on this new journey with SPARK Technology A/S.
H1 2024 financial results in brief (H1 2023 numbers in parentheses):
– Gross Revenue*: DKK 54,597,000 (93,884,000)
– Gross Cost of Sales: DKK -49,326,000 (-68,677,000)
– Net Revenue: DKK 5,271,000 (26,376,000)
– Cost of Sales: DKK -45,494 (-8,018,000)
– Gross Profit: DKK 5,225,217 (18,358,000)
– Employee Expenses: DKK -10,368,297 (-12,441,000)
– G&A Expenses: DKK -7,361,680 (-23,009,000)
– Adjusted EBITDA**: DKK -17,729,977 (-35,450,000)
*Management uses gross revenue as a metric to monitor the performance of the company. Gross revenue is total sales made by the group during the year. Revenue is shown net of cost of sales in the Income Statement.
**Operational EBITDA for continuing business, less non-recurring or other adjusted items.
The former Board of Directors, Executive Management and Liquidator of SPARK Technology A/S has approved the H1 2023 report today.
The H1 2024 Interim Report has not been audited.
Disclaimer
The liquidator, who was appointed as liquidator by the Maritime and Commercial Court's probate court on 3 September 2024, does not have full knowledge of all the Company's matters, including matters that may be relevant to the half-year accounts, in particular regarding matters and transactions prior to 3 September 2024. On 18 November 2024, the general meeting of the company decided to resume the company, to reelect Magne Fretheim, Gabriel Jansaas and Bård Bjerkås for the board of directors and Jens Glaso as the CEO, and to file this decision with the Danish Business Authorities for registration. The Danish Business Authority is currently processing the registration application. The half-year accounts have been prepared by the elected, but not yet registered management, who have declared to the liquidator that, in their opinion, the half-year accounts are fair, both with regard to the income statement and assets and liabilities. The elected, but not yet registered management has therefore co-signed the half-yearly report.
Please find the full report attached to this company announcement.
Certified Adviser
Company’s Certified Adviser is Baker Tilly Corporate Finance P/S (CVR-nr. 40073310), Poul Bundgaards Vej 1, 1., DK-2500 Valby, tlf. +45 3345 1000
For further Information, please contact:
Jens B. Glaso, CEO SPARK Technology A/S. Phone +47 40 40 47 50, e-mail: jens@spenn.com
SPARK Technology A/S
CVR nr.: 26518199
Njalsgade 76, 4.
2300 København S
Tel: +45 8830 000
About SPARK Technology A/S
In a world where 1.7 billion people are still unbanked, SPARK Technology has democratized access to financial markets by bridging the crypto sphere with traditional finance. By utilizing blockchain technology the company has created a robust real-time payment system in which everyone can manage their savings, payments, investments and loans in an honest, transparent and secure way through the SPENN App platform. Although SPARK Technology A/S is a purpose-driven company with our vision to empower people, we are also a commercial player that always strives to develop new services for our customers.
The SPENN app is an innovative and unique digital banking platform for the unbanked as well as the banked to be able to send and receive money completely cost-free, in markets where the cost of financial services is the highest in the world. SPENN is disrupting the existing mobile payment distribution channels. SPENN has launched new integrated services in the platform and expects to launch more crypto services going forward.
SPARK Technology is a technology provider to banks and governments based on a Software as a Service (SaaS) solution and has grown to become a key partner for their bank partners to drive deposits and to stay in front of innovation. SPARK Technology is helping governments regulate the unregulated utilizing new technology and visionary ideas which have ultimately solved the biggest issue within financial inclusion.
SPARK Technology A/S (under the name SPENN Technology) is listed on the Nasdaq First North Growth Market Denmark and on OTCQX in USA.
Ticker codes:
Europe – Nasdaq First North: SPENN
USA – OTCQX: SPNNF