Half-year report Seluxit 2023/24

Company Announcement No. 65
Aalborg, January 29th, 2024   

In the half-year report, you can read more about the highlights for the period, which include:

• An order for Wappsto:bit, our EdTech solution, which was selected in the first tender for Spanish schools
• An order for the development of new radio modules for Eastern Europe, as well as pre-qualification for tenders, together with our partner who supplies electricity meters
• A significant order to a large Danish retail chain for our EMS solution

• Establishment of a significant strategic partnership with NewRoniX for the agricultural sector

 

CEO Daniel Lux, Seluxit:

"We are seeing increased demand for solutions in two strategic segments. One is Smart Energy, and the other is EdTech (educational technology). Although these segments may seem completely different, they both have Seluxit's IoT Platform as a foundation and can benefit from each other. Today, there is a lack of knowledge about how to save energy, and we can help by educating the energy experts of the future. On the same page, we see a gap in the market for education on energy solutions."

Financial Highlights

Revenue in H1 2023/24 was DKK 1.9m, which includes an increase in hardware revenue of DKK 0.8m and a reduction in data, license and subscription revenue of DKK 1.3m compared to H1 2022/23.

Revenue is below expectations as the sales and decision-making process with customers has proven to be longer than expected.

EBITDA for H1 2023/24 amounted to DKK -1.9 million compared to DKK -2.3 million for H1 2022/23, corresponding to an improvement of DKK 0.4 million.

The liquidity preparedness is DKK 0.6 million as of December 31, 2023.

We are still waiting to receive payment of Corona Compensation of DKK 0.9 million, for which we received a preliminary final statement from the authorities in January 2023.

Outlook

We maintain the expectations for the financial year 2023/24 with the following main points:

Revenue of DKK 10-13 million and an EBITDA of DKK -1 to 2 million.

 

Financial Highlights

Key Figures                                         (DKK-tkr)	H1 2023/24	H1 2022/23	2022/23	2021/22
Revenue	1.904	2.093	5.167	6.004
Revenue from data, license, and subscription	491	1.794	3.734	4.050
Revenue from hardware	776	31	905	985
Revenue other	637	268	528	969
EBITDA	-1.907	-2.291	-3.550	-346
Profit/loss after tax	-2.761	-3.277	-6.037	-3.996
Equity	5.602	11.123	8.363	14.401
Balance Sheet	13.640	18.707	17.593	22.934
CASH flow
Cash Flow from Operations	-106	-895	-2.363	2.785
Cash Flow from Investments	-1.076	-1.714	-1.908	-3.696
Cash Flow from Financing	-979	-56	-70	16
Total Cash Flow	-2.161	-2.665	-4.341	-895
Cash equivalent end of the period	588	4.425	2.749	7.090
Number of shares (pcs.)	9.632.961	9.632.961	9.632.961	9.632.961
Earnings per share (DKK)	-0,29	-0,34	-0,63	-0,41
Solvency ratio	41,1 %	59,5 %	47,5 %	62,8 %
Liquidity ratio	127,7 %	503,1 %	205,5 %	473,8 %

Attachment: Seluxit half-year report H1, 2023/24.