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Goodvalley delivered solid results amid challenging 2020 While the year came off to a good start based on high live pig prices, solid volume growth and strong production efficiency, the global outbreak of COVID-19 put an abrupt end to the positive development. Demand for live pigs and pork products dropped across our markets due to reduced consumption, temporary closures of slaughterhouses and very limited export activities. The significant negative impact on demand and prices was further exacerbated by the effects of an outbreak of African Swine Fever in Germany in the second half of the year where we also saw a sharp increase in feed prices. “2020 was a year of unprecedented challenges and unusual market conditions, and we are proud to report strong operational performance and solid financial results based on our dedicated employees’ extraordinary discipline and work efforts during a difficult period,” says CEO Hans Henrik Pedersen. Highlights • Group revenue decreased by 4% to DKK 1,463 million (2019: DKK 1,526 million), and Adjusted EBITDA came to DKK 316 million (2019: DKK 274 million), corresponding to an Adjusted EBITDA margin of 21.6% (2019: 17.9%). • The Polish segment’s revenue declined to DKK 871 million (2019: DKK 925 million), and Adjusted EBITDA came to DKK 114 million (2019: DKK 112 million)corresponding to an increase in Adjusted EBITDA margin of 13.1% (2019: 12.1%), realised despite lower pig prices and a drop in the meat to feed ratio as the low pig prices were not reflected in the feed price, which was stable. • Ukrainian segment revenue came to DKK 461 million (2019: DKK 429 million), and Adjusted EBITDA increased to DKK 161 million (2019: DKK 113 million) corresponding to an Adjusted EBITDA margin of 34.8% (2019: 26.3%) driven by a significant improvement in our arable production due to a strong focus on crop rotation, despite flooding at the beginning of the year, and a significantly improved pig production efficiency which lifted the number of pigs sold per sow. • Revenue in the Russian business declined to DKK 131 million (2019: DKK 172 million) due to the lower volume and a decrease in the average sales price, and Adjusted EBITDA fell to DKK 40 million (2019: DKK 49 million) corresponding to an Adjusted EBITDA margin of 30.5% (2019: 28.5%), primarily caused by the PRRS outbreak, which impacted volumes produced throughout the year and entailed a sharp decline in the number of pigs sold per sow. OutlookIn 2021, Goodvalley expects to generate revenue of DKK 1,450 - 1,600 million and an Adjusted EBITDA of 230-280 million. The outlook is based on expectations of a relatively stable pig price level compared to the average price in 2020 and good production efficiency. The outlook for 2021 is based on an average market price for live pigs of DKK 11.30 per kilo slaughter pig (2020 reported: DKK 11.19 per kilo slaughter pig) and a feed price of DKK 1.66 per kilo (2020 reported: DKK 1.65 per kilo) in the pig division and the prevailing economic situation in Goodvalley’s markets. The outlook is furthermore based on exchange rates for the Group’s key currencies remaining at the closing rates in December 2020 for the full year. Further information Group CFO, Jakob Brasted + 45 76 52 20 00 firstname.lastname@example.org GOODVALLEY AT A GLANCE Goodvalley is an international producer of high-quality pork products operating in Poland, Ukraine and Russia based on Danish production standards. The company is to a large extent self-sufficient and masters the whole production chain from field to fork, from growing crops for feed, breeding and slaughtering pigs including using the manure in biogas facilities to produce electricity and organic fertilizer for the fields. Goodvalley is certified as a carbon neutral company by German TÜV and operates according to the highest standards in terms of animal welfare, transparency in the production and sustainable production methods. Attachments Goodvalley Annual Report 2020 Goodvalley Sustainability Report 2020
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DIGITALIST GROUP PLC STOCK EXHANGE RELEASE 26 February 2021 9:00 AM DIGITALIST 2020 SUMMARY October–December 2020 (comparable figures for 2019 in parentheses): ● Turnover: EUR 5.0 million (EUR 6.7 million), decrease: -25.0%. ● EBITDA: EUR 0.3 million (EUR -1.7 million), 5.6% of turnover (-24.9%).● EBIT*: EUR -0.9 million (EUR -9.5 million), -17.5% of turnover (-140.9%). ● Net income*: EUR -1.6 million (EUR -9.5 million), -32,0% of turnover (-140.4 %).● Earnings per share (diluted and undiluted) EUR -0.00 (EUR -0.02). *Comparison year EBIT and net income include a goodwill impairment charge of EUR -7.0 million. January–December 2020 (comparable figures for 2019 in parentheses): ● Turnover: EUR 20.5 million (EUR 27.4 million), decrease: -25.2%. ● EBITDA: EUR -2.0 million (EUR -3.7 million), -9.9% of turnover (-13.6%). ● EBIT*: EUR -9.1 million (EUR -14.1 million), -44.2% of turnover (-51.4%). ● Net income*: EUR -11.9 million (EUR -14.7 million), -58.1% of turnover (-53.5%). ● Earnings per share (diluted and undiluted): EUR -0.02 (EUR -0.02). ● Cash flow from operations EUR -0.7 million (EUR -4.8 million). ● Number of employees at the end of the review period: 182 (246), decrease of 26.0%. *EBIT and net income for the period include a goodwill impairment charge of EUR -3.7 million (EUR 7.0 million). Future prospects In 2021, turnover and EBITDA are expected to improve in comparison with 2020. CEO’s review Digitalist Group combines brand, design and technology expertise in a unique way. We aim to help our customers to provide their target groups with first-class customer experiences. Our goal for 2020 was to improve profitability. The efficiency measures implemented during the year and our swift reaction to the Covid-19 pandemic improved profitability, leading to positive EBITDA in the final quarter of the year. I am proud of our highly motivated organisation, which has remained innovative and done high-quality work in difficult times. At the end of December, the company had a total of 182 employees (a decrease of 26%) of more than 30 different nationalities. This is a good illustration of our company’s diversity, a characteristic which provides our customers with added value. Digitalist Group has studios focusing on different areas of expertise in Helsinki, Stockholm, London and Vancouver, which employ top experts in fields ranging from strategic and brand planning to design and technology. Digitalist’s values are human orientation and equality, collaboration, continuous learning and customer success. These values have been successfully realised over the past year, amid new operating practices and virtual meetings. We have created new ways of working together from remote offices, innovating seamlessly on numerous interesting projects with our customers, all without forgetting our values. The Covid-19 pandemic had a particular impact on customer accounts in the travel and tourism sector, causing business uncertainty. The efficiency improvement measures resulted in reduced capacity, which led to a decrease in turnover compared to 2019. In March, we started co-operation negotiations covering the Group’s entire personnel. As a result of the co-operation negotiations, Digitalist Group’s personnel were laid off in a staggered manner with reduced number of working hours for some personnel, and many rapid adjustments that were made due to the changes in the market conditions while ensuring the delivery of customer projects. The business outlook improved in the final quarter of the year. We are building new operating methods in many of our customer relationships, by creating added value in our customers’ innovation processes and redesigning the digital customer experience during the pandemic. In the second half of the year, we executed two corporate transactions that contributed to our focus on the core competences of different business units, enabling improvement of the company’s profitability and scalability. In the third quarter, we completed a transaction that transferred Digitalist UK Limited’s business and personnel associated with the Ticknovate™ product to Ticknovate Limited. A sharper focus on the further development of Ticknovate, combined with the sectoral expertise provided by the investor, ABC Leisure investments Ltd, has enabled scaling and international growth. Ticknovate is a cloud-based SaaS ticket sales and reservation application. In a transaction executed in December, Digitalist Group sold a minority stake (totalling 30 per cent) of Digitalist Sweden AB to its executive management. The aim of this transaction was to accelerate Digitalist Group’s growth in Sweden and the other Nordic countries and strengthen the service in open-source environments and selected customer segments. Digitalist Group’s largest customer accounts include Finning, Honda, Volvo, Spotify, Posti, Electrolux, TetraPak, the City of Helsinki and Fennia. In December 2020, Digitalist Group Plc’s subsidiary Digitalist Sweden AB signed a significant agreement with a Swedish public sector entity on the provision of design and development services. The agreement is part of long-term co-operation and has a value of about EUR 1.2 million. The services are planned to be provided in 2021. The agreement will underpin Digitalist Group’s growth in Sweden and support its aim of operating as a strategic partner in digitalisation. In addition, Digitalist Group Plc and Ticknovate Limited, which belongs to Digitalist Group, concluded a Ticknovate SaaS service agreement with ForSea AB, a Swedish company. The agreement is valid until 31 August 2027 and the Company estimates the value of the agreement to be approximately EUR 1.9 million. Year 2020 was my first full year as Digitalist Group’s CEO. I am pleased that we improved our profitability toward positive EBITDA in the final quarter of the year. I have been thrilled about the efforts and positive attitude of Digitalist Group’s employees despite the difficult times we went through in 2020. Digitalist Group has the unique ability to serve customer companies in their renewal and improving the customer and employee experience. I believe that comprehensively improving the customer experience is an important priority for our customers during the Covid-19 pandemic and beyond. In particular, almost every company has on their agenda a digital customer experience that is coordinated with the company’s brand and exceeds customers’ expectations. Digitalist Group is in a unique position to design and deliver such solutions. //CEO Petteri Poutiainen SEGMENT REPORTING Digitalist Group reports its business in a single segment. TURNOVER In the fourth quarter, the Group’s turnover was EUR 5.0 million (EUR 6.7 million), which is 25.0% less than in the previous year. Turnover was significantly affected by the decline in customer projects due to Covid-19 and the reduction in capacity due to efficiency improvement measures in 2019 and 2020. The Group’s turnover for the period totalled EUR 20.5 million (EUR 27.4 million), which is 25.2% less than in the previous year. The decrease in turnover was partly impacted of decreased customer projects due to Covid-19. The efficiency measures implemented during the review period and the comparison period reduced the Group’s capacity substantially. Turnover earned outside Finland accounted for a significant proportion of the total in the review period at 74% (74%). RESULT In the fourth quarter, EBITDA came to EUR 0.3 million (EUR -1.7 million). Positive impacts of EBITDA were partly due to the efficiency measures implemented that helped to develop profitability. Improvement includes also a one-time payment recognized in other operating income. Net income for the final quarter amounted to EUR -1,6 million (EUR -9.5 million), earnings per share were EUR -0.00 (EUR -0.02), and cash flow from operating activities per share was EUR -0.00 (EUR -0.01). The comparable net income was impacted by a goodwill impairment charge (EUR -7.0 million). EBITDA for the financial period came to EUR -2.0 million (EUR -3.7 million). Positive impacts of EBITDA were partly due to swift reaction of Covid-19 in the spring and the efficiency measures implemented subsequent helped to develop profitability. Improvement includes also a one-time payment recognized in other operating income. Net income for the financial period amounted to EUR -11.9 million (EUR -14.7 million), earnings per share totalled EUR -0.02 (EUR -0.02) and cash flow from operating activities per share was EUR -0.00 (EUR -0.01). Net income for the financial period and the comparison period were impacted by a goodwill impairment charge of EUR 3.7 million (EUR -7.0 million). RETURN ON EQUITY The Group’s shareholders’ equity amounted to EUR -16.7 million (EUR -8.3 million) of which EUR 1.3 million (EUR 0.0 million) was non-controlling interest. Return on equity (ROE) was negative. Return on investment (ROI) was -75,9 (-69,4) per cent. INVESTMENTS Investments during the financial period totalled EUR 0.6 million (EUR 1.8 million). Period investments are related to system development. No product development costs were capitalised during the period. At the end of the review period, product development costs capitalised on the balance sheet totalled EUR 0.7 million (EUR 1.4 million). The product development costs are related to the development of the Ticknovate product. During the period 2020 a product development grant of EUR 0.3 million was received. BALANCE SHEET AND FINANCING The decrease in the balance sheet total was mainly due to a goodwill impairment charge EUR -3.7 million (EUR -7.0 million), deductions in right-of-use assets and decrease in related liabilities. The balance sheet total was EUR 19.6 million (EUR 26.3 million). Shareholders’ equity amounted to EUR -16.7 million (EUR -8.3 million). The solvency ratio was -84.9% (-31.7%). At the end of the period, the Group’s liquid assets totalled EUR 1.0 million (EUR 0.8 million). The negative change in the company’s shareholders’ equity was partly due to the operating loss, which was affected by a goodwill impairment charge EUR 3.7 million (EUR 7.0 million). At the end of the period, the Group’s balance sheet recognised EUR 8.9 million (EUR 8.7 million) in loans from financial institutions, including the overdrafts in use. In addition, the company had loans from its main owners. On 31 December 2020, the Group’s interest-bearing liabilities amounted to EUR 28.1 million (EUR 26.8 million), of which related-party loans amounted to EUR 17.9 million (EUR 14.8 million). The loan agreements made with related-party companies during the financial period are in the section of the review entitled related-party transactions. CASH FLOW The Group’s cash flow from operating activities during the review period was EUR -0.7 million (EUR -4.8 million), a change of EUR 4.2 million. The cash flow was impacted negatively by the loss for the period and positively Covid-19 payment schedules and transactions with non-controlling interests. In order to reduce the rate of turnover of trade receivables, the Group sells some of its trade receivables from Finnish customers. Trade receivables worth EUR 4.7 million (EUR 6.2 million) were sold during the financial period. GOODWILL On 31 December 2020, the consolidated balance sheet recognised EUR 7.5 million (EUR 10.9 million) in goodwill following a goodwill impairment of EUR 3.7 million based on goodwill impairment test on 30 June 2020. The company conducted an IAS 36 impairment test on its goodwill to reflect the status on 31 December 2020, and the test did not indicate need for impairment. PERSONNEL The average number of employees in the last quarter was 183 (256). The average number of employees during the financial period was 208 (261), and the Group had 182 (246) employees at the end of the period. At the end of the financial period, 69 (91) of the Group’s personnel were employed by the Finnish companies, and 113 (155) were employed in the Group’s foreign companies. During the financial period, the number of personnel decreased by 64, mainly due to the co-operation negotiations conducted within the Group. SHARES AND SHARE CAPITAL Share turnover and price During the financial period, the company’s share price hit a high of EUR 0.05 (EUR 0.08) and a low of EUR 0.03 (EUR 0.04), and the closing price on 31 December 2020 was EUR 0.04 (EUR 0.05). The average price in the financial period was EUR 0.03 (EUR 0.05). During the financial period, 245,033 (483,610,063) shares were traded, corresponding to 0.04 (74.3) percent of the number of shares in circulation at the end of the period. The Group’s market capitalisation at the closing share price on 31 December 2020 was EUR 23,436,819 (EUR 29,296,024). Share capital At the beginning of the period under review, the company’s registered share capital was EUR 585,394.16, and there were 651,022,746 shares. At the end of the period, the share capital was EUR 585,394.16, and there were 651,022,746 shares. The company has one class of shares. At the end of the reporting period, the company held a total of 7,664,943 treasury shares. Option plan 2019 During the period Digitalist Group Plc had a option programme 2019 and the maximum number of new shares in the company to be subscribed is 3,580,000. Descriptions of the option programme are on the company’s website at https://digitalist.global. Shareholders The number of shareholders on 31 December 2020 was 4,309 (4,073). Private individuals owned 8.79 (8.75) per cent of the shares, and institutions held 90.76 (91.25) per cent. Foreign nationals or entities held 0.45 (0.01) per cent of the shares. Nominee-registered shares accounted for 3.36 (4.52) per cent of the total. RELATED-PARTY TRANSACTIONS Financing arrangements with related parties: On 24 January 2020, Digitalist Group Plc agreed on a short-term loan of EUR 1,000,000 with Holdix Oy Ab. The loan was agreed on market terms, and the maturity was set at 13 March 2020. Convertible bonds 12 March 2020 On 12 March 2020, Digitalist Group Plc agreed on a financing arrangement of approximately EUR 9.2 million with Turret Oy Ab and Holdix Oy Ab whereby the company’s short-term liabilities to Turret and Holdix were converted into long-term convertible bonds amounting to approximately EUR 8.2 million. In addition to the debt conversion, Turret paid EUR 1.0 million in cash to the company as the price of subscription of the convertible bonds in accordance with the terms and conditions. As part of the arrangement, Turret’s receivables of approximately EUR 1.375 million from the company’s subsidiaries Digitalist Sweden AB and Grow AB became the liabilities of Digitalist Group. The arrangement also includes an agreement between the company, Turret and Holdix on the alteration of the terms of Digitalist Group’s Convertible Loan of 31 May 2018 such that the interest payable on the bond principal as of 12 March 2020 was postponed for payment in a single instalment at the maturity of each bond on 31 December 2021. The company announced the details of its convertible bonds on 12 March 2020. OTHER EVENTS DURING THE FOURTH QUARTER On 17 December 2020, Digitalist Group Plc sold 30 per cent of the share capital of Digitalist Sweden AB to holding companies owned by three members of Digitalist Sweden AB’s management, 10 per cent to each buyer. The transaction price of the shares totalled approximately EUR 1,587,000, of which the buyers paid approximately EUR 314,000 in cash (EUR 99,000–EUR 116,000 per buyer). The buyers are in debt to the company for the remainder of the transaction price. Each buyer must pay their debt (EUR 413,000–EUR 430,000) in a lump sum by 16 December 2030. Interest will accrue on the debt at market rates, and each buyer pledges their purchased shares in Digitalist Sweden AB to Digitalist Group as a guarantee of payment of the debt and interest. Legal title to the Digitalist Sweden AB shares sold under the arrangement was transferred to the buyers on 31 December 2020. When the arrangement was made, Digitalist Group acquired its own shares with an approximate value of EUR 214,600 from two holding companies owned by members of Digitalist Sweden AB’s management. On 23 December 2020, Digitalist Group Plc and Ticknovate Limited, which belongs to Digitalist Group, concluded a Ticknovate SaaS service agreement with ForSea AB. The agreement will be in force until 31 August 2027. The company estimates the value of the agreement at approximately EUR 1.9 million. On 23 December 2020, Digitalist Group Plc’s Swedish subsidiary Digitalist Sweden AB signed an additional agreement with a Swedish public sector entity on the provision of design and development services. The agreement is part of long-term co-operation and has a value of about EUR 1.2 million. The services are planned to be provided in 2021. The agreement will underpin Digitalist Group’s growth in Sweden and support its aim of operating as a strategic partner in digitalisation. The stock exchange releases for the review period are on the company’s website at www.digitalist.global/investors/releases EVENTS SINCE THE END OF REVIEW PERIOD On 25 January 2021, the Board of Directors of Digitalist Group Plc decided to issue options rights on the basis of an authorisation granted by the Annual General Meeting held on 14 April 2020. The options will be issued free of charge, as decided by the Board of Directors, to key personnel employed by or recruited to companies within Digitalist Group Plc to secure their commitment and motivation. The options will be subscribed with the identifiers 2021A1, 2021A2, 2021B1, 2021B2 and 2021C1. A maximum total of 60,000,000 options can be issued, and they entitle their holders to subscribe for a maximum of 60,000,000 new shares in the company. The company’s Board of Directors stated that the undistributed options from the 2019 option scheme have lapsed. A total of 3,580,000 options were issued under the 2019A1 and 2019A2 series of the company’s 2019 option scheme, and these options will enable up to 3,580,000 new shares in the company to be subscribed, subject to the terms of the option scheme. The full terms of the option scheme are available on the company’s website at https://investor.digitalistgroup.com/fi/investor/shares/option-schemes. RISK MANAGEMENT AND SHORT-TERM UNCERTAINTIES The objectives of Digitalist Group Plc’s risk management are to ensure the undisrupted continuity and development of the company’s operations, support the achievement of the company’s business objectives and increase the company’s value. For more details about the organisation of risk management, processes and identified risks, see the company’s website at https://digitalist.global. The company has been making a loss despite the efficiency measures it has taken. However, the efficiency measures taken in 2019 and 2020 have created a more sustainable cost structure. The company’s loss-making performance directly affects its working capital and the sufficiency of its financing. This risk is managed by maintaining the capacity to use different financing solutions. The company aims to continuously assess and monitor the amount of necessary business financing to ensure that it has sufficient liquid assets to finance its operations and repay maturing loans. Any disruptions in the financial arrangements would weaken Digitalist Group’s financial position. When Covid-19 developed into a pandemic in early 2020, the restrictive measures taken to prevent the spread of the disease affected the businesses of the company’s customers, thereby reducing the number of projects with some customers and the number of orders. This is reflected in the development of turnover. The company is currently dependent on external financing, most of which has been obtained from related-party companies and financial institutions. Digitalist Group’s ability to finance its operations and reduce the amount of its debt depends on several factors, such as the cash flow from operations and the availability of debt and equity financing, and there is no certainty that such financing will be available in the future. Similarly, there can be no certainty that Digitalist Group will be able to obtain additional debt or refinance its current debt on acceptable terms, if at all. In early 2020, the company rearranged its short-term loans with both the main owner and a financial institution. A significant proportion of the Group’s turnover is generated by its 20 largest customers. Changes in key customer accounts could adversely affect Digitalist Group’s operations, earning capacity and financial position. If one of Digitalist Group’s largest customers decided to switch to a competing company or drastically altered its operating model, the chances of finding customer volumes to replace the shortfall in the near term would be limited. The Group’s business consists mainly of individual customer agreements, which are often relatively short-term. In addition, some of the project contracts have fixed or target prices. The length of delivery contracts makes it difficult to reliably estimate the longer-term development of the Group’s business operations, earnings and financial position. With regard to fixed-price projects, it is essential to be able to estimate the workload and/or contractual risks of the project correctly in order to ensure an adequate level of profitability. The aforementioned aspects related to customer contracts can lead to unpredictable fluctuations in turnover and, thereby, in profitability. Irrespective of the market situation, there is a shortage of certain experts in the Digitalist Group’s sector. Furthermore, the aggressive recruitment policies that are prevalent in Digitalist Group’s sector may increase the risk of personnel moving to competitors. There is no guarantee that the company will be able to retain its current personnel and recruit new employees to maintain growth. If Digitalist Group loses its current personnel, it would be more difficult to complete existing projects and acquire new ones. This could have an adverse impact on Digitalist Group’s business, earnings and financial position. Significant part of the Group’s turnover is invoiced in currencies other than the euro. The risk associated with changes in exchange rates is managed in various ways, including net positioning and currency hedging contracts. No hedging contracts were used in the 2019 and 2020 reporting periods. The Group has a subsidiary in England. The impact of Brexit on the subsidiary’s business has been assessed and is estimated to be limited. The Group’s balance sheet contains goodwill that is subject to impairment risk in the event that the Group’s future yield expectations decrease due to internal or external factors. The goodwill is tested for impairment every six months and whenever the need arises. LONG-TERM GOALS AND STRATEGY Digitalist Group aims to achieve a profit margin of at least 10 per cent over the long term. In order to achieve its long-term goals, Digitalist Group strives for profitable, international growth by shaping new forms of thinking, services and technological solutions for digitalising sectors. These sectors include the technology industry, energy industry, transport and logistics, as well as consumer services in the public and private sectors. Digitalist Group’s strategy focuses on enhancing its service and solution business and seamlessly integrating user and operational research, branding, design and technology. PROPOSAL BY THE BOARD OF DIRECTORS TO THE ANNUAL GENERAL MEETING The Board of Directors of Digitalist Group Plc proposes to the Annual General Meeting that the distributable funds be retained in shareholders’ equity and that no dividend be distributed to shareholders for the 2020 financial period. On 31 December 2020, the parent company had distributable assets of EUR 14,870,871. Digitalist Group Plc’s Annual General Meeting will be held in Helsinki on Tuesday 20 April 2021. NEXT REVIEW The Business review, for January–March 2021, will be published on Friday 30 April 2021. DIGITALIST GROUP PLCBoard of Directors Further information:Digitalist Group Plc- CEO Petteri Poutiainen, tel. +358 40 865 4252, email@example.com- CFO Mervi Södö, tel. +358 40 136 5959, firstname.lastname@example.org Distribution: NASDAQ OMX HelsinkiKey mediahttps://digitalist.global DIGITALIST GROUP SUMMARY OF THE FINANCIAL STATEMENTS AND NOTES, 1 JANUARY–31 DECEMBER 2020 CONSOLIDATED INCOME STATEMENT, EUR THOUSAND 1 Oct–31 Dec 20 1 Oct–31 Dec 19 Change (%) 1 Jan–31 Dec 20 1 Jan–31 Dec 19 Change (%) Turnover 4,979 6,747 -26 % 20,487 27,401 -25 % Other operating income 1,270 35 3 529% 1,823 140 1 202% Operating expenses -7,122 -16,286 56 % -31,368 -41,628 25 % EBIT -873 -9,503 91 % -9,059 -14,087 36 % Financial income and expenses -706 -98 -620 % -2,998 -911 -229 % Profit before taxes -1,579 -9,601 84 % -12,057 -14,998 20 % Income taxes -13 132 -110 % 163 336 -51 % PROFIT/LOSS FOR THE FINANCIAL PERIOD -1,592 -9,470 83 % -11,894 -14,662 19 % Distribution: Parent company shareholders -1,623 -9,470 83 % -11,820 -14,662 19 % Non-controlling interests 31 0 100% -73 0 100% Earnings per share: Undiluted (EUR) -0,02 -0.02 0 % -0,02 -0.02 0 Diluted (EUR) -0,02 -0.02 0 % -0,02 -0.02 0 COMPREHENSIVE INCOME STATEMENT, EUR THOUSAND 1 Oct–31 Dec 20 1 Oct–31 Dec 19 Change (%) 1 Jan–31 Dec 20 1 Jan–31 Dec 19 Change (%) Profit/loss for the financial period - 1,591 -9,470 83 % -11,820 -14,662 19 % Other items of comprehensive income Translation difference 410 73 462 % 1,481 -541 374 % TOTAL COMPREHENSIVE INCOME FOR THE YEAR -1,181 -9,397 87 % -10,339 -15,203 32 % Parent company shareholders -1,212 -9,397 87 % -10,281 -15,203 32 % Non-controlling interests 31 -58 CONSOLIDATED BALANCE SHEET, EUR THOUSAND ASSETS 31 December 2020 31 December 2019 NON-CURRENT ASSETS Intangible assets 2,741 4,903 Goodwill 7, 485 10,934 Tangible assets 1,116 3,050 Buildings and structures, rights-of-use 958 2,673 Machinery and equipment 101 290 Other tangible assets 57 87 Other non-current financial assets 1,127 2 NON-CURRENT ASSETS 12,469 18,889 CURRENT ASSETS Trade and other receivables 5,945 6,032 Income tax asset 223 572 Cash and cash equivalents 1,008 787 CURRENT ASSETS 7,176 7,391 ASSETS 19,645 26,280 SHAREHOLDERS’ EQUITY AND LIABILITIES SHAREHOLDERS’ EQUITY Parent company shareholders Share capital 585 585 Share premium account 219 219 Invested non-restricted equity fund 72,972 73,185 Retained earnings -79,904 -67,648 Profit/loss for the financial period -11,820 -14,662 Non-controlling interests 1,262 Parent company shareholders -17,949 -8,321 SHAREHOLDERS’ EQUITY -16,686 -8,321 NON-CURRENT LIABILITIES 12,513 13,523 CURRENT LIABILITIES 23,818 21,078 SHAREHOLDERS’ EQUITY AND LIABILITIES 19,645 26,280 CALCULATION OF CHANGES IN CONSOLIDATED SHAREHOLDERS’ EQUITY, EUR THOUSANDA: Share capitalB: Share premium accountC: Invested unrestricted equity fundD: Translation differenceE: Retained earningsF: Total shareholders’ equity attributable to the parent company’sG: Non-controlling interestsH: Total shareholders’ equity A B C D E F G H Shareholders’ equity 1 Jan 2019 585 219 73,186 412 -67,375 7,027 7,027 Other changes Profit/loss for the financial period -14,662 -14,662 -14,662 Other items of comprehensive income Translation difference -541 -541 -541 Share-based remuneration -145 -145 -145 Shareholders’ equity 31 Dec 2019 585 219 73,186 -129 -82,182 -8,321 -8,321 Shareholders’ equity 1 Jan 2020 585 219 73,186 -129 -82,182 -8,321 -8,321 Other changes 0 Profit/loss for the financial period -11,820 -11,820 -73 -11,893 Purchase of own shares -214 -214 -214 Other items of comprehensive income 0 Translation difference 1,481 1,481 15 1,496 Share-based remuneration 25 25 25 Transactions with non-controlling interests 901 901 1,320 2,221 Shareholder’s equity 31 Dec 2020 585 219 72,972 1,352 -93,076 -9,627 1,262 -16,686 CONSOLIDATED CASH FLOW STATEMENT, EUR THOUSAND Cash flow from operations 1 Jan–31 Dec 2020 1 Jan–31 Dec 2019 1 Jul–31 Dec 2020 1 Jul–31 Dec 2019 Earnings before taxes in the period -12,057 -14,998 -4 118 -11,494 Adjustments to cash flow from operations: Other income and expenses with no payment transactions 0 16 Depreciation, impairment 7,037 10,371 1,809 8,675 Financial income and expenses 2,998 911 1,783 379 Other adjustments -167 -489 -366 44 Cash flow financing before changes in working capital -2,189 -4,205 -892 -2,380 Change in working capital 1,315 -594 305 -1,138 Interest received 10 0 3 0 Interest paid -9 -3 0 -64 Taxes paid 220 -17 226 0 Net cash flow from operations -653 -4,819 -358 -3,582 Investments in other investments Investments in tangible and intangible assets -249 -1,045 -50 -872 Investment grants received 333 15 Income from disposal of tangible and intangible assets Taxes paid on investments Net cash flow from investments 85 -1,045 -35 ´ -872 Net cash flow before financial items -568 -5,864 -393 -4,454 Cash flow from financing activities Purchase of own shares -215 -215 Transactions with non-controlling interests 1,096 1 096 Drawdown of long-term loans 1,000 392 0 392 Drawdown of short-term loans 1,286 7,502 493 5,265 Repayment of short-term loans -53 -33 -53 -33 Interest and other charges -1,060 0 -829 0 Repayment of lease liabilities -1,266 -1,525 -618 764 Net cash flow from financing 788 6,336 -126 4,860 Change in cash and cash equivalents 220 473 -519 406 Liquid assets, beginning of period 787 314 1,525 381 Liquid assets, end of period 1,007 787 1,007 787 Accounting principles The Group has implemented new and revised IFRS standards and IFRIC interpretations during the period. The new and revised standards did not have an impact on the reported figures. This financial statement release has been prepared in accordance with IAS 34 – Interim Financial Reporting. The financial statement release complies with the same accounting principles and calculation methods as the annual financial statements. The preparation of a financial statement release in accordance with IFRS requires the management to use certain estimates and assumptions that affect the amounts recognised in assets and liabilities when the balance sheet was prepared, as well as the amounts of income and expenses in the period. In addition, discretion must be used in applying the accounting policies. As the estimates and assumptions are based on outlooks on the balance sheet date, they contain risks and uncertainties. The realised values may deviate from the original assessments and assumptions. The figures on the income statement and balance sheet are consolidated figures. All Group companies have been consolidated. The original release is in Finnish. The English release is a translation of the original. The figures in the release have been rounded, so the sums of individual figures may deviate from the presented totals. The figures for the 2020 and 2019 financial statement release are unaudited. Going concern This financial statement release was prepared in accordance with the principle of the business as a going concern. The assumption of continuity is based on the management’s estimates and the following factors, among others: The Group’s financial situation has remained tight. The Group has completed significant cost-saving programmes, which are expected to result in improvements to the Group’s profitability in the future. The Group has invested in its key customers in line with its strategy, and this is expected to have a positive impact on sales trends. The Group’s liquidity has improved in comparison with the earlier forecast due to successful negotiations concerning payment tis in various units and the Covid-19 grant received by the Group. In the second half of the year, we executed two corporate transactions and those improved the Groups liquidity. The company restructured its financing during the review period by extending the payment period for loans from related parties and by transforming them into convertible bonds and repayments of loans from financial institutions. When the financial statements were published, the company expected its working capital to be sufficient to cover its requirements over the next 12 months based on the financing plans with the main owner. Goodwill impairment testing and recognised impairment Digitalist Group tested its goodwill for impairment on 31 December 2020. The goodwill is allocated to one cash-generating unit. A goodwill impairment test conducted on 31 December 2020 found no impairment of goodwill. The value in use of tested assets exceeded the tested amount by EUR 8.5 million. The calculation put the present value of cash flows at EUR 21.2 million, which is less than the sum of the company’s financial liabilities, which amount to EUR 28.1 million, and the market price of its shares, which is EUR 23.4 million, on 31 December 2020. The company tests its goodwill based on the utility value of the assets. In the testing conducted on 31 December 2020 in conjunction with the financial statements, the cash flow forecasting period was from 2021 to 2024. During the 2021–2024 forecasting period, average growth of 20 per cent is expected to be achieved as digitalisation spreads to an increasing share of business life. The operating margin is expected to rise to approximately 6 per cent by the end of the forecasting period. The method involves comparing the tested assets with their cash flow over the selected period, taking into account the discount rate and the growth factor of the cash flows after the forecast period. The discount rate was 13 per cent (14 per cent). The growth factor used to calculate the cash flows after the forecast period is 1 per cent (1 per cent). The weighted average operating profit margin for the forecast period was used to calculate the value of the terminal period. CONSOLIDATED INCOME STATEMENT BY QUARTER, EUR THOUSAND Q4/2020 Q3/2020 Q2/2020 Q1/2020 Q4/2019 1 Oct–31 Dec 20 1 Jul–30 Sep 20 1 Apr–30 Jun 20 1 Jan–31 Mar 20 1 Oct–31 Dec 19 Turnover 4,979 4,264 4,735 6,509 6,747 Other operating income and expenses -5,852 -5,726 -9,976 -7,992 -16,250 EBIT -873 -1,462 -5,241 -1,483 -9,503 Financial income and expenses -706 -1,077 -490 -725 -99 Profit before taxes -1,579 -2,540 -5,730 -2,208 -9,602 Income taxes -13 53 59 64 132 INCOME IN THE COMPARISON PERIOD -1,592 -2,487 -5,671 -2,144 -9,470 CHANGES IN INTANGIBLE AND TANGIBLE ASSETS, EUR THOUSAND Goodwill Intangible assets Tangible fixed assets Right-of-use asset Other investments Total Carrying value 1 Jan 2019 18,059 5,282 553 3,817 2 27,713 Increases 1,220 125 502 0 1,847 Decreases -11 0 -11 Impairment -7,000 -7,000 Changes in exchange rates -114 -132 -44 0 -290 Depreciation for the review period -1 467 -257 -1,646 0 -3,370 Carrying value 31 Dec 2019 10,934 4,903 377 2,673 2 18,889 Goodwill Intangible assets Tangible fixed assets Right-of-use asset Other investments total Carrying value 1 Jan 2020 10,934 4,903 377 2,673 2 18,889 Increases 222 27 347 1 596 Decreases -805 -104 -904 -1,813 Impairment -3,700 -3,700 Changes in exchange rates 251 -7 -6 -3 236 Depreciation for the review period -1,572 -138 -1,155 -2,865 Carrying value 31 Dec 2020 7,485 2,741 155 958 3 11,342 KEY INDICATORS ASSETS 1 Jan–31 Dec 2020 1 Jan–31 Dec 2019 Earnings per share (EUR) diluted -0.02 -0.02 Earnings per share (EUR) -0.02 -0.02 Shareholders’ equity per share (EUR) -0.03 -0.01 Cash flow from operations per share (EUR) diluted -0.00 -0.01 Cash flow from operations per share (EUR) -0.00 -0.01 Return on capital employed (%) -75.9 -69.9 Return on equity (%) neg neg. Operating profit/turnover (%) -44.2 -51.4 Gearing as a proportion of shareholders’ equity (%) -162.2 -313.4 Equity ratio as a proportion of shareholders’ equity (%) -84.9 -31.7 EBITDA (EUR thousand) -2,021 -3,716 MATURITY OF FINANCIAL LIABILITIES AND INTEREST ON LOANS 31 December 2019 Balance sheet value Cash flow Under 1 year 1–5 years Over 5 years Loans from financial institutions 3,418 3,905 807 3,098 0 Overdrafts 5,295 5,295 5,295 Convertible bonds 8,672 9,712 520 9,192 0 Other related-party loans 6,087 7,029 7,029 0 0 Lease liabilities, IFRS 16 2,949 3,125 1,661 1,098 366 Accounts payable 2,176 2,176 2,176 31 December 2020 Balance sheet value Cash flow Under 1 year 1–5 years Over 5 years Loans from financial institutions 3,364 3,483 759 2,724 0 Overdrafts 5,513 Convertible bonds 17,881 19,475 9,437 10,038 0 Other related-party loans Lease liabilities, IFRS 16 965 950 805 146 0 Accounts payable 1,525 1,525 1,525 OTHER INFORMATION 1 Jan–31 Dec 2020 1 Jan–31 Dec 2019 NUMBER OF EMPLOYEES, average 208 262 Personnel at the end of the period 182 246 LIABILITIES, EUR THOUSAND Pledges made for own obligations Corporate mortgages 13,300 13,300 Total interest-bearing liabilities Long-term loans from financial institutions 2,632 2,871 Other long-term liabilities 9,410 9,980 Short-term interest-bearing liabilities 16,033 14,015 Total 28,075 26,866 CALCULATION OF KEY FINANCIAL FIGURES EBITDA = earnings before interest, tax, depreciation and amortisation Diluted earnings per share = Profit for the financial period / Average number of shares, adjusted for share issues and for the effect of dilution Earnings per share = Profit for the financial period / Average number of shares adjusted for share issues Shareholders’ equity per share = Shareholders’ equity / Number of undiluted shares on the balance sheet date Cash flow from operations per share (EUR) diluted = Net cash flow from operations / Average number of shares, adjusted for share issues and for the effect of dilution Return on investment (ROI) =(Profit before taxes + Interest expenses + Other financial expenses) /(Balance sheet total - non-interest-bearing liabilities (average)) x 100 Return on equity (ROE) = Net income / Total shareholders’ equity (average) x 100 Gearing = interest-bearing liabilities - liquid assets / total shareholders’ equity x 100 Attachment FINANCIAL STATEMENTS RELEASE OF DIGITALIST GROUP, 1 January – 30 December 2020
THIS ANNOUNCEMENT CONTAINS REGULATED INFORMATION. PUBLICATION RELATING TO A TRANSPARENCY NOTIFICATION (ARTICLE 14, 1ST PARAGRAPH, OF THE LAW OF 2 MAY 2007 ON THE DISCLOSURE OF MAJOR HOLDINGS) Acacia Pharma Group plc 1. Summary of the notification Cambridge, UK and Indianapolis, US – 26 February 2021, 08:00 CET: Acacia Pharma Group plc has received a transparency notification dated 23 February 2021 indicating that Cosmo Pharmaceuticals N.V now holds, by virtue of the issue of shares on 23 February 2021, 19.66% of the voting rights of the company. Cosmo has therefore crossed the threshold of 20%. 2. Content of notificationThe notification dated 23 February 2021 contains the following information: Reason of the notification – passive crossing of a thresholdNotification by – a parent undertaking or a controlling personPersons subject to the notification requirement – Cosmo Pharmaceuticals N.V. Riverside 2, Sir John Rogerson’s Quay, Dublin 2, IrelandDate on which the threshold is crossed – 23 February 2021Threshold that is crossed – 20%Denominator – 99,689,451Notified details: A) Voting rightsPrevious notificationAfter the transaction # of voting rights# of voting rights% of voting rightsHolders of voting rights Linked to securitiesNot linked to securitiesLinked to securitiesNot linked to securitiesCosmo Pharmaceuticals N.V.0000.00%0.00%Cosmo Technologies Ltd.19,600,09819,600,098019.66%0.00%Subtotal19,600,09819,600,098 19.66% TOTAL19,600,098019.66%0.00% B) Voting rightsAfter the transactionHolders of equivalent financial instrumentsType of financial instrumentExpiration dateExercise period or date# of voting rights that may be acquired if the instrument is exercised% of voting rightsSettlement TOTAL 00.00% TOTAL (A+B) # of voting rights% of voting rights CALCULATE19,600,09819.66% ·Full chain of controlled undertakings through which the holding is effectively held: Cosmo Technologies Ltd is a 100% subsidiary of Cosmo Pharmaceuticals N.V. Miscellaneous This press release is available on Acacia Pharma Group plc’s website (https://acaciapharma.com/investors/regulatory-announcements)The notification may be found on Acacia Pharma Group plc’s website ((https://acaciapharma.com/investors/regulatory-announcements) Contacts Acacia Pharma Group plcMike Bolinder, CEOGary Gemignani, CFO+44 1223 919760 / +1 317 505 1280IR@acaciapharma.com International MediaMark Swallow, Frazer Hall, David DibleCitigate Dewe Rogerson +44 20 7638 email@example.comUS InvestorsLifeSci AdvisorsIrina Koffler+1 firstname.lastname@example.orgMedia in Belgium and the NetherlandsChris Van Raemdonck+32 499 58 55 31 email@example.com Acacia Pharma Group plcThe Officers’ Mess, Royston Road, Duxford, Cambridge, CB22 4QH, United KingdomCompany number 9759376 About Acacia Pharma Acacia Pharma is a hospital pharmaceutical company focused on the development and commercialization of new products aimed at improving the care of patients undergoing significant treatments such as surgery, other invasive procedures, or cancer chemotherapy. The Company has identified important and commercially attractive unmet needs in these areas that its product portfolio aims to address. Acacia Pharma's first product, BARHEMSYS® (amisulpride injection) is marketed in the US for the management of postoperative nausea & vomiting (PONV). BYFAVO™ (remimazolam) for injection, a very rapid onset/offset IV benzodiazepine sedative is approved and launched in the US for use during invasive medical procedures in adults lasting 30 minutes or less, such as colonoscopy and bronchoscopy. BYFAVO is in-licensed from Paion UK Limited for the US market. APD403 (intravenous and oral amisulpride), a selective dopamine antagonist for chemotherapy induced nausea & vomiting (CINV) has successfully completed one proof-of-concept and one Phase 2 dose-ranging study in patients receiving highly emetogenic chemotherapy. Acacia Pharma has its US headquarters in Indianapolis, IN and its R&D operations are centered in Cambridge, UK. The Company is listed on the Euronext Brussels exchange under the ISIN code GB00BYWF9Y76 and ticker symbol ACPH. www.acaciapharma.com Attachment TR1 BE 24 Feb 2021
Stockholm, February 26, 2021 – Anoto Group AB (“Anoto” or the “Company”) announces that the Company’s total number of shares and votes has increased by 30,000,000 shares and votes, respectively. The number of shares and votes in Anoto has increased as a result of the directed rights issue resolved by the Company’s board of directors on December 28, 2020, based on an authorization from the Annual General Meeting held on May 18, 2020, and announced through the press release of December 29, 2020, together with the directed rights issue resolved by the board of directors on January 20, 2021, announced through the press release of the same date and approved by the Extraordinary General Meeting held on February 15, 2021. As of February 26, 2021, the total number of shares and votes in Anoto amounts to 215,658,150 shares and votes, respectively. For further information, please contact: Johannes Haglund, Chief of Staff, Anoto Group AB For more information about Anoto, please visit www.anoto.com or email firstname.lastname@example.org Anoto Group AB (publ), Reg.No. 556532-3929, Flaggan 1165, SE-116 74 Stockholm This information is information that Anoto Group AB (publ) is obliged to make public pursuant to the Financial Instruments Trading Act. The information was submitted for publication, through the agency of the contact person set out above, on February 26, 2021 at 08:00 CET. About Anoto GroupAnoto is a publicly held Swedish technology company known globally for innovation in the area of information-rich patterns and the optical recognition of those patterns. It is a leader in digital writing and drawing solutions, having historically used its proprietary technology to develop smartpens and the related software. These smartpens enrich the daily lives of millions of people around the world. Anoto currently has three main business lines: Livescribe retail, Enterprise Forms and OEM. Anoto also owns Knowledge AI, a leading AI based education solution company, as its majority-controlled subsidiary. Anoto is traded on the Small Cap list of Nasdaq Stockholm under ANOT. Attachment Change in number of shares and votes_February 2021 (En)
Emre Gürsoy CEO of Agillic Emre Gürsoy, CEO of Agillic:“In 2020, revenue amounted to DKK 50.5 million and total annual recurring revenue (ARR) to DKK 46.5 million. While it has been a year of challenges, our new strategy has already shown results. We completed a financial turnaround, resulting in a positive EBITDA for 2020 as a consequence of a DKK 15.7 million EBITDA improvement. I am pleased to see that our ARR in Q4 increased by DKK 2.4 million due to a combination of winning new clients and uplifting existing clients. With the capital raises in 2020 and January 2021, we have a strong foundation to pursue our strategic growth and internationalisation plans. Our three main financial goals towards 2023 remain: Double-digit percentage growth rate in ARR subscriptions, positive cash flow from operations, and a positive EBITDA.” Announcement no. 8 2021 Copenhagen – 26 February 2021 - Agillic A/S (Nasdaq First North Growth Market Denmark: AGILC) publishes its Q4 results and annual report 2020. In 2020, revenue from subscriptions, gross profit and number of clients were at an all-time high. For the first time since the IPO in 2018, EBITDA in 2020 was positive and amounted to DKK 0.3 million. In Q4 2020, the annual recurring revenue (ARR) increased by DKK 2.4 million compared to Q3 2020. Emre Gürsoy, CEO of Agillic comments:“In 2020, revenue amounted to DKK 50.5 million and total annual recurring revenue (ARR) to DKK 46.5 million. While it has been a year of challenges, our new strategy has already shown results. We completed a financial turnaround, resulting in a positive EBITDA for 2020 as a consequence of a DKK 15.7 million EBITDA improvement. I am pleased to see that our ARR in Q4 increased by DKK 2.4 million due to a combination of winning new clients and uplifting existing clients. With the capital raises in 2020 and January 2021, we have a strong foundation to pursue our strategic growth and internationalisation plans. Our three main financial goals towards 2023 remain: Double-digit percentage growth rate in ARR subscriptions, positive cash flow from operations, and a positive EBITDA.” Performance highlights 2020 2019 2020 2019 DKK million FY FY Change Q4 Q4 ChangeINCOME STATEMENT Revenue subscriptions 43.9 41.2 7% 10.5 10.8 -3% Revenue transactions 5.5 11.2 -51% 1.4 2.4 -42% Other revenue 1.1 1.4 -21% 0.4 0.5 -20%Total revenue 50.5 53.8 -6% 12.4 13.7 -9%Gross profit 44.2 41.7 6% 10.7 10.8 -1%Gross margin 88% 78% - 87% 79% -Employee costs -29.8 -35.8 17% -6.3 -9.0 30%Operational costs -14.1 -21.3 34% -3.9 -6.1 36%EBITDA 0.3 -15.4 0.5 -4.3 Net profit for the year -8.0 -25.1 68% -1.4 -6.5 78%FINANCIAL POSITION Cash1 16.3 -4.0 16.3 -4.0 ARR DEVELOPMENT ARR subscriptions 40.7 45.5 -11% 40.7 45.5 -11% ARR transactions 5.8 9.6 -40% 5.8 9.6 -40%Total ARR2 46.5 55.1 -16% 46.5 55.1 -16%Change in ARR (DKK) -8.6 5.0 - 2.4 3.4 -Change in ARR (%) -16% 10% - 5% 7% - 1. Cash is defined as available funds less bank overdraft withdrawals2. ARR, i.e. the annualised value of subscription agreements and transactions at the end of the actual reporting period Highlights Q4 2020 In Q4, Agillic successfully renewed and uplifted its two largest clients as well as other strategically important clients. Seven new client contracts across several industries were signed, in Denmark and internationally. As of 31 December 2020, Agillic had 82 clients, which is an all-time high.ARR increased by DKK 2.4 million in Q4 compared to Q3 2020 (+5%). The net uplifts and new clients increased the subscription part of ARR from DKK 40.1 in Q3 to 40.7 million in Q4. The transaction part of ARR was higher than Q3 due to the seasonality of Black Week and Christmas. This year, Agillic’s Customer Marketing Platform again delivered a high performance to all clients during Q4.The Company moved to new facilities. Financial Highlights FY 2020 Total revenue amounted to DKK 50.5 million compared to 53.8 million (-6%) in 2019. However, revenue from subscriptions increased by 7% to DKK 43.9 million, which was an all-time high.Gross profit was at an all-time high, with DKK 44.2 million for the year (+6%).EBITDA amounted to DKK 0.3 million, an improvement of DKK 15.7 million compared to year-end 2019. The positive development resulted from an improved gross profit of DKK 2.5 million and reduced operational costs of DKK 13.2 million. It is the first time since the IPO in 2018 that the Company can present a positive EBITDA.Time to recover CAC declined from 18 months to 12 months.As of 31 December 2020, ARR amounted to DKK 46.5 million.As of 31 December 2020, cash at bank amounted to DKK 16.3 million. Comments on ARR development As of 31 December 2020, ARR amounted to DKK 46.5 million, compared to DKK 55.1 million as of 31 December 2019, a decrease of DKK 8.6 million (-16%), which was mainly driven by COVID-19 and its negative impact on the retail and travel & leisure segments.The transactional part of ARR was also lower in Q4 2020 than Q4 2019 due to the impact of COVID-19, especially on the above-mentioned segments.Although Agillic won 20 new clients in 2020, the subscription part of the ARR decreased. Following the business impact of COVID-19, some clients downgraded, and some clients churned. Seeking to offset the negative effect of COVID-19, Agillic focused on adjusting the subscription fees in exchange for an increase in the clients’ subscription period commitment. Financial guidance 2021 & 2022The Company published its financial guidance on 19 January 2021 DKK million20212022Revenue49 - 5357 - 63EBITDA-5 to -1-3 to +3 ARR subscriptions45 - 49 ARR transactions5 - 7 Total ARR*50 - 5665 - 70Growth rate in total ARR 30-40% *) The growth rate in ARR subscriptions is expected to be higher than in ARR transactions. Strategy toward 2023 Since the Initial Public Offering (IPO) in March 2018, Agillic has pursued growth and internationalisation. Apart from the domestic market, markets of particular interest are the DACH region, North America, Norway, Sweden, the UK, and, as of 2021, Central and Eastern Europe. Together with Agillic’s strategic partners across geographies, the Company continues to target digitally mature and data-driven B2C-businesses with a substantial customer base within the following sectors: retail, finance, travel & leisure, NGO & charities and subscription businesses. Please find Agillic’s annual report 2020 here:Agillic annual report 2020 Financial calendar 2021 Annual general meeting: 30 March 2021 Financial results 1st quarter 2021: 4 May 2021 Half-year report 2021: 26 August 2021 Financial results 3rd quarter 2021: 22 October 2021 For further information, please contact:Emre Gürsoy, CEO, Agillic A/S +45 30 78 42 00 email@example.com Bent Faurskov, CFO, Agillic A/S+45 25 16 21 03 firstname.lastname@example.org Certified AdviserJohn Norden, Norden CEFKongevejen 365, 2840 HolteDenmark+ 45 20 72 02 email@example.com Disclaimer The forward-looking statements regarding Agillic’s future financial situation involve factors of uncertainty and risk, which could cause actual developments to deviate from the expectations indicated. Statements regarding the future are subject to risks and uncertainties that may result in considerable deviations from the presented outlook. Furthermore, some of these expectations are based on assumptions regarding future events, which may prove incorrect. Please also refer to the overview of risk factors in the ‘risk management’ section of the annual report. About Agillic A/S Agillic is a Danish software company enabling marketers to maximise the use of data and translate it into relevant and personalised communication, thereby establishing strong relations between people and brands. Our customer marketing platform uses AI to enhance the business value of customer communication. By combining data-driven customer insights with the ability to execute personalised communication, we provide our clients with a head start in the battle of winning markets and customers. Besides the Company’s headquarters in Copenhagen, Denmark, Agillic has sales offices in London (UK) and Stockholm (Sweden), as well as a development unit in Kyiv (Ukraine). For further information, please visit www.agillic.com. Agillic A/S (publ) (Nasdaq First North Growth Market Denmark: AGILC) is obligated to publish the above information in compliance with the EU Market Abuse Regulation. The information was published via agent by Agillic A/S on 26 February 2021. Appendix: Financial development per quarter 2018 2019 2020 DKK million Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4INCOME STATEMENT Revenue subscriptions 5.9 6.3 6.6 8.7 9.3 10.5 10.6 10.8 12.0 10.8 10.5 10.5 Revenue transactions 1.9 2.2 2.0 2.6 3.1 3.4 2.2 2.4 2.2 0.8 1.0 1.4 Other revenue 0.4 1.0 0.5 0.8 0.4 0.3 0.2 0.5 0.5 0.1 0.2 0.4Total revenue 8.2 9.5 9.1 12.2 12.8 14.3 13.0 13.7 14.7 11.8 11.7 12.4Gross profit 5.3 7.2 7.1 9.7 9.7 11.1 10.1 10.8 11.9 11.1 10.5 10.7Gross margin 65% 76% 78% 79% 76% 78% 78% 79% 81% 94% 90% 87%EBITDA -5.4 -4.0 -3.4 -6.3 -3.5 -4.8 -2.8 -4.3 -0.4 0.6 -0.4 0.5Net profit for the year -7.2 -6.1 -5.8 -6.7 -5.9 -8.6 -4.1 -6.5 -2.7 -0.5 -3.4 -1.4 BALANCE SHEET Cash1 35.1 24.1 15.6 12.3 2.7 1.0 -1.0 -4.0 -6.1 15.2 14.8 16.3Total assets 60.4 53.9 50.0 47.4 36.1 40.5 40.9 37.7 38.4 59.3 55.7 63.8Equity 21.4 15.4 9.9 3.5 -2.1 -10.5 -14.3 -20.6 -18.7 -1.4 -4.6 -5.8Borrowings 13.0 11.6 9.0 11.3 10.5 16.3 21.3 24.4 28.5 28.3 28.9 28.9 EMPLOYEES & CLIENTS Employees end of period 33 43 50 56 60 63 67 64 64 61 57 53Clients end of period 55 59 65 73 73 79 77 81 84 83 79 82 ARR & SAAS METRICS ARR subscriptions 27.6 29.5 33.4 39.6 40.7 44.5 43.0 45.5 47.0 43.6 40.1 40.7 ARR transactions 7.4 9.3 8.5 10.5 12.6 13.8 8.7 9.6 8.9 3.3 4.0 5.8Total ARR2 35.1 38.8 41.9 50.1 53.3 58.2 51.7 55.1 55.8 46.9 44.1 46.5Change in ARR (DKK) 1.9 3.7 3.1 8.2 3.2 5.0 -6.5 3.4 0.8 -8.9 -2.8 2.4Average ARR3 0.6 0.7 0.6 0.7 0.7 0.7 0.7 0.7 0.7 0.6 0.6 0.6Yearly CAC4 0.5 0.8 0.5Months to recover CAC5 11 18 12 1. Cash is defined as available funds less bank overdraft withdrawals.2. ARR, i.e., the annualised value of subscription agreements and transactions at the end of the actual reporting period.3. Average ARR, i.e. the average ARR per client.4. Customer Acquisition Costs (CAC), i.e., the sales and marketing cost (inclusive salaries, commissions, direct and share of costs of office divided by the number of new clients. CAC is calculated end of year. Former CAC numbers have been restated. 5. Months to recover CAC YTD, i.e., the period in months it takes to generate sufficient gross profit from a client to cover the acquisition cost. Attachments Emre Gürsoy CEO of Agillic Company Announcement no 8 2021 Agillic Annual Report 2020
4D pharma plc (AIM: DDDD), a pharmaceutical company leading the development of Live Biotherapeutic products (LBPs) - a novel class of drug derived from the microbiome, today announces that the United States Securities and Exchange Commission ("SEC") has declared effective its registration statements on Form F-4 with respect to the issuance of 4D pharma American Depositary Shares ("ADSs") to the shareholders of Longevity Acquisition Corporation (NASDAQ: LOAC) ("Longevity"), a NASDAQ-listed special purpose acquisition company ("SPAC"), in connection with the previously announced merger between 4D pharma and Longevity.
PARIS and CAMBRIDGE, Mass., Feb. 26, 2021 (GLOBE NEWSWIRE) -- Biophytis SA (NasdaqCM: BPTS, Euronext Growth Paris: ALBPS), (“Biophytis” or the “Company”), a clinical-stage biotechnology company focused on the development of therapeutics that are aimed at slowing the degenerative processes associated with aging and improving functional outcomes for patients suffering from age-related diseases, including severe respiratory failure in patients suffering from COVID-19, today announces its non-audited financial results for the year ended December 31, 2020, and provides updates on key operational developments and financing transactions. • Major milestones achieved during 2020 Launch of the phase 2-3 COVA trial assessing Sarconeos (BIO101) as a potential treatment for acute respiratory failure linked to COVID-19 global, multicenter, double-blind, placebo-controlled, group-sequential and adaptive design two-part Phase 2-3 study approved in 5 countries: the US, Brazil, France, Belgium and the UKPatient enrollment for Part 1 completed with 50 patients, and trial moving to Part 2 following approvals from certain Regulatory AuthoritiesInterim Analysis of Part 1 expected in Q1 2021 and results from the full study (Part 1 and Part 2) expected in Q2 2021, subject to any delays in patient recruitment or retention, interruptions in sourcing or supply chain, regulatory authorizations and procedures, COVID-19-related delays, and the impact of the current pandemic Treatment completed for the last patient in the Phase 2 SARA-INT trial for the treatment of sarcopenia. Top-line results expected in Q2 2021Successful completion of four private placements, significantly strengthening company financial resources, with total cash and cash equivalents and other current financial assets amounting to €18.8 million as of December 31, 2020 • Successful IPO on Nasdaq Capital Market closed on February 12, 2021 for total gross proceeds of $20.1 million Stanislas Veillet, President and CEO of Biophytis, said: “2020 marked a turning point for Biophytis. Four successful private placements have allowed us to strengthen our financial situation in order to enter a new and exciting phase in the development of the company. At the same time, we have been making strong progress in clinical operations. We are proud to participate in the world fight against SARS-CoV-2 through the launch of COVA, our phase 2-3 study assessing Sarconeos (BIO101) as a potential treatment for patients with severe respiratory manifestation of COVID-19. The study is now entering Phase 3 in Brazil, the United States, France and Belgium, and full results are expected in Q2 2021. Our last patient completing last visit in the SARA-INT Phase 2 trial in sarcopenia is also an important milestone, and we look forward to top-line results which are also expected in Q2 2021.” The Company’s annual 2020 non-audited consolidated financial statements prepared in accordance with IFRS were reviewed by the Company’s Board of Directors on February 23, 2021. Audit procedures are being completed, the issuance of the audit report is pending, and will be included in the Company’s upcoming 2020 annual financial report and SEC Form 20-F. Annual 2020 Financial Results • Cash and cash equivalents and other current financial assets. Cash and cash equivalents and other current financial assets as of December 31, 2020 were €18.8 million, an increase of €12 million compared to €6.8 million as of December 31, 2019. During 2020, cash used in operating activities was €9.9 million. Cash used in investment activities was €12.7 million, of which €12.5 million are linked to fixed term deposit contracts. These uses were offset by €22.1 million of cash provided by financing activities. • Research and Development Expenses. Net research and development expenses were €9.9 million for 2020, an increase of €0.8 million, or 9%, compared to €9.1 million for 2019. This increase is mainly linked to the launch of the COVA program. In parallel, SARA-INT, our Phase 2 trial in Sarcopenia is progressing. Patients recruitment was completed in March 2020, and the last dosing of our last patient was achieved in December 2020. Net research and development expenses included research tax credits (French ‘Crédit Impôt Recherche’, or CIR) and other subsidies totaling €3.3 million in 2020 compared to €2.8 million in 2019. • General and Administrative Expenses. General and administrative expenses were €4 million for 2020 compared to €6.6 million for 2019, a decrease of €2.6 million, or 39%. This significant decrease was primarily linked to the fees and expenses incurred in 2019 in connection with our attempted listing on Nasdaq, and to cost reduction efforts related to personnel and structure expenses in 2020 compared to 2019. • Net Loss. Net loss was €17.1 million for 2020, as compared to €17.8 million for 2019. Net loss per share (based on weighted-average number of shares outstanding over the period except the treasury shares) was €0.28 in 2020 compared to €1.05 in 2019. The table below summarizes the non-audited operating results. (amounts in thousands euros, except for share data) 2019 2020Net Research and Development expenses (9,089) (9,921)General and administrative expenses (6,593) (4,021)Operating loss (15,682) (13,942)Net financial loss (2,134) (3,112)Loss before tax (17,816) (17,054)Income tax 28 - Net loss (17,788) (17,054)Non diluted weighted average number of shares outstanding, except treasury shares 16,882,661 59,974,486Loss per share (€/share) (1.05) (0.28) Summary of operational events (more details are provided in the corresponding press releases available on Biophytis's website: www.biophytis.com) Launch of the Phase 2-3 COVA study in patients with severe respiratory manifestation of COVID-19 In May 2020, Biophytis received approval from the Belgian Federal Agency for Medicines and Health Products (FAMHP), to proceed with its clinical development program COVA, a two-part study assessing Sarconeos (BIO101) in patients aged 45 and older, hospitalized with severe respiratory manifestations following COVID-19 infection;Biophytis received approvals for COVA from the UK Medicines Healthcare Products Regulatory Agency (MHRA) in June 2020, from the United States Food and Drug Administration (FDA) and the French Health Authority (ANSM) in July 2020 and the Brazilian Health Regulatory Agency (ANVISA) in August 2020;In August 2020, the first participant for Part 1 of the study was enrolled in Belgium;In October 2020, the first US and Brazilian patients were enrolled in COVA, with clinical centers opened and ready to recruit in Belgium, France, Brazil and the US. In December 2020, the first patient was enrolled in France;In February 2021, authorization for patient recruitment for Part 2 of COVA was obtained from regulatory authorities in Brazil, the United States, France and Belgium. Part 2 of COVA is a Phase 3 pivotal randomized study investigating the safety and efficacy of Sarconeos (BIO101) on the respiratory function from 310 COVID-19 patients (including the 50 patients from Part 1 of the study).The Company expects to report full results (For Part 1 and Part 2) in Q2 2021, subject to any delays in patient recruitment or retention, interruptions in sourcing or supply chain, regulatory authorizations and procedures, COVID-19-related delays, and the impact of the current pandemic. SARA clinical program in sarcopenia : In March 2020, due to COVID-19, Biophytis adapted the protocol of SARA-INT to allow patient follow up to take place at home, based on guidelines from regulators, including the U.S. FDA;In March 2020, Biophytis completed enrolment of the 233 patients into SARA-INT;In December 2020, the last patient in SARA-INT completed his final on-treatment visit;Biophytis expects to report top-line data from SARA-INT in Q2 2021, subject to any delays in patient recruitment or retention, interruptions in sourcing or supply chain, regulatory authorizations and procedures, COVID-19-related delays, and the impact of the current pandemic. MYODA clinical program in Duchenne Muscular Dystrophy (DMD): After an IND ‘‘may proceed’’ letter from the FDA (USA)in December 2019, in March 2020 Biophytis received approval from the Belgian FAMHP to proceed with its clinical investigation of Sarconeos (BIO101) in non-ambulatory patients with DMD.Depending on the evolution of the pandemic and its impact on our operational capabilities, the MYODA study is expected to start in H1 2021. Financing 1/ Debt financing: Replacement of the convertible ORNANEBSA from Negma by the convertible ORNANE from Atlas:In April 2020, the Company secured a new line of financing of €24 million from Atlas Special Opportunities LLC, a specialized investment fund based in New York (United States) providing for the issuance of 960 3-year note warrants. The 960 3-year note warrants require their holder to exercise them, at our request, in tranches of 120 warrants each. Each warrant grants its holder the right to one ORNANE. The ORNANE have a par value of €25,000. In April 2020, the Company formerly notified NEGMA Group LTD of its decision to terminate the contract signed in August 2019. The Negma agreement provided for up to €24 million in financing through the issuance of multiple tranches of convertible notes with attached warrants. This termination has led to litigation between Negma and Biophytis, and legal proceedings are ongoing. 2/ Equity raising: In 2020, the Company successfully raised capital through several transactions: Public offering of share subscription warrants: In April 2020, the Company closed a public offering of warrants to purchase ordinary shares, allowing shareholders registered as of April 8, 2020 to benefit from a non-negotiable and non-transferable subscription priority period and then new shareholders, to subscribe for warrants to purchase ordinary shares. Demands exceeded three times the number of available warrants. A total of 7,475,708 warrants were subscribed for total proceeds of €448 thousand. Private placement transactions : The Company successfully closed four private placement transactions which significantly strengthened its equity position. In February, June, July and October 2020, the Company issued shares to institutional investors totaling €3.3 million, €4 millions, €6.1 million and €10 million, respectively, and for a total of €23.4 million. Appointments:In January 2020, Biophytis appointed Evelyne Nguyen as Chief Financial Officer in replacement of Daniel Schneiderman. 2021 Outlook: Programs: The COVA study: The full results (Part 1 and Part 2) are expected in Q2 2021. Subject to any COVID-19 related delays, the Company anticipates applying for Emergency Use Authorization from FDA, and Conditional Market Approval from EMA in Q2 2021. The SARA -INT study: Following the last visit completion of the last patient in December 2020, the Company is preparing to release top-line results of this Phase 2 trial during Q2 2021. The MYODA study: Depending on the evolution of the COVID-19 pandemic, the Company is intending to start in H1 2021 the Phase 1-3 MYODA trial. These plans remain subject to any delays in patient recruitment or retention, interruptions in sourcing or supply chain, regulatory authorizations and procedures, COVID-19-related delays, and the impact of the current pandemic. Nasdaq IPO: On February 12, 2021, the Company closed its previously announced initial public offering on the Nasdaq Capital Market by way of a capital increase of 12,000,000 ordinary shares represented by 1,200,000 American Depositary Shares (“ADSs”), with each ADS representing 10 ordinary shares, at a price of $16.75 per ADS. Total gross proceeds were approximately $20.1 million. The Company received net proceeds of approximately $16.35 million or €13.5 million, after deducting underwriting discounts and commissions, management fee and estimated offering expenses payable by the Company. Since February 10, 2021, Biophytis ADSs are listed on Nasdaq Capital Market (US trading ticker: BPTS) Coronavirus StatementWe are closely monitoring how the spread of COVID-19 is affecting our employees, business, preclinical and clinical studies. As part of our COVID-19 pandemic response, most of our employees have transitioned to working remotely and travel has been restricted. During the pandemic, we instructed our employees to work remotely as much as possible except for essential and required activities that needed to be performed in laboratories. Such access and work must comply with social distancing and other local government and facility requirements and policies were implemented during initial and subsequent waives of COVID-19. While we have substantially completed enrollment dosing of Sarconeos (BIO101) in our SARA-INT study, limitations on in-office visits due to study site closures during the initial COVID-19 wave required adaptation of the study protocol including closing on-site activities, organizing patient follow-ups to take place at home, and expanding treatment from six to nine months for some patients. All such changes to the protocol were submitted to, reviewed and approved by reviewing IRBs. Despite these impediments, the last patient completed his final on treatment visit in December 2020.However, the impact of continued and prolonged disruptions caused by the COVID-19 pandemic may result in further difficulties or delays in initiating, enrolling, conducting or completing our ongoing and planned clinical trials, which could result in additional unforeseen costs. The impact of COVID-19 on our future clinical research and development progress will largely depend on future developments of the pandemic. These future COVID-19 developments are highly uncertain and cannot be predicted with confidence, and include issues such as: the rate and ultimate geographic spread of the disease; the duration of the pandemic; travel restrictions and social distancing requirements in the U.S., Brazil, the UK, France and other countries; business disruptions and closures; impact on financial markets and the global economy; and the effectiveness of actions taken to contain, treat and prevent the disease. About BIOPHYTISBiophytis SA is a clinical-stage biotechnology company specialized in the development of therapeutics that are aimed at slowing the degenerative processes associated with aging and improving functional outcomes for patients suffering from age-related diseases, including severe respiratory failure in patients suffering from COVID-19. Sarconeos (BIO101), our leading drug candidate, is a small molecule, administered orally, being developed as a treatment for sarcopenia in a Phase 2 clinical trial in the United States and Europe (SARA-INT). It is also being studied in a clinical two-part Phase 2-3 study (COVA) for the treatment of severe respiratory manifestations of COVID-19 in Europe, Latin America, and the US. A pediatric formulation of Sarconeos (BIO101) is being developed for the treatment of Duchenne Muscular Dystrophy (DMD). The company is based in Paris, France, and Cambridge, Massachusetts. The company's common shares are listed on the Euronext Growth Paris market (Ticker: ALBPS - ISIN: FR0012816825), and ADSs are listed on Nasdaq Capital Market (Ticker BPTS – ISIN: US09076G1040). For more information visit www.biophytis.com DisclaimerThis press release contains forward-looking statements. Forward-looking statements include all statements that are not historical facts. In some cases, you can identify these forward-looking statements by the use of words such as "outlook," "believes," "expects," "potential," "continues," "may," "will," "should," "could," "seeks," "predicts," "intends," "trends," "plans," "estimates," "anticipates" or the negative version of these words or other comparable words. These forward-looking statements include statements regarding Biophytis’ anticipated timing for its Interim Analysis of Part 1 and release of full study results. Such forward-looking statements are based on assumptions that Biophytis considers to be reasonable. However, there can be no assurance that the statements contained in such forward-looking statements will be verified, which are subject to various risks and uncertainties including, without limitation, delays in patient recruitment or retention, interruptions in sourcing or supply chain, its ability to obtain the necessary regulatory authorizations, COVID-19-related delays, the impact of the current pandemic on the Company’s clinical trials and other risks described in our filings with the U.S. Securities and Exchange Commission. The forward-looking statements contained in this press release are also subject to risks not yet known to Biophytis or not currently considered material by Biophytis. Accordingly, there are or will be important factors that could cause actual outcomes or results to differ materially from those indicated in these statements. In France, please also refer to the "Risk Factors" section of the Company's Annual 2019 Report and the Company’s Half Year 2020 Report available on BIOPHYTIS website (www.biophytis.com). We undertake no obligation to publicly update or review any forward-looking statement, whether as a result of new information, future developments or otherwise, except as required by law. Biophytis Contact for Investor RelationsEvelyne Nguyen, CFO firstname.lastname@example.org Media contactLife Sci Advisor Sophie Baumont/Chris Maggos/John HodgsonE: email@example.comT: +33 6 27 74 74 49 Investor RelationsLifeSci Advisors, LLC Sandya von der Weid E: firstname.lastname@example.orgT: +41 78 680 05 38
Takeda Pharmaceutical Company Limited (TOKYO:4502) (NYSE:TAK) ("Takeda") today announced that it has entered into an agreement to transfer the assets, marketing rights and, eventually, marketing authorization associated with a portfolio of select non-core products in Japan to Teijin Pharma Limited ("Teijin Pharma"), a Tokyo-based pharmaceutical company, for JPY 133.0 billion, subject to customary legal and regulatory closing conditions.
Acacia Pharma Group plc Issue of Equity on Exercise of Options/Vesting of Performance Share Awards Cambridge, UK and Indianapolis, US – 26 February 2021, 08:00 CET: Acacia Pharma Group plc (“Acacia Pharma”, the “Group” or the “Company”) (EURONEXT: ACPH), a hospital pharmaceutical company focused on the development and commercialization of new products aimed at improving the care of patients undergoing significant treatments such as surgery, other invasive procedures or cancer chemotherapy, announces that application has been made to Euronext Brussels for the admission of the 24,500 Ordinary Shares of £0.02 each (the “New Ordinary Shares”) to trading on Euronext Brussels ("Admission") to satisfy the exercise of options granted under the Company’s Enterprise Management Incentive Share Option Plan. The New Ordinary Shares will rank pari passu in all respects with the Company's existing Ordinary Shares in issue. Following issue of the New Ordinary Shares, the Company's total issued share capital consists of 99,713,951 Ordinary Shares with one voting right per share. The Company does not hold any Ordinary Shares in Treasury. Therefore, following the issue of the New Ordinary Shares, the total number of voting rights in the Company is 99,713,951. Contacts Acacia Pharma Group plcMike Bolinder, CEOGary Gemignani, CFO+44 1223 919760 / +1 317 505 1280IR@acaciapharma.com International MediaMark Swallow, Frazer Hall, David DibleCitigate Dewe Rogerson +44 20 7638 email@example.comUS InvestorsLifeSci AdvisorsIrina Koffler+1 firstname.lastname@example.orgMedia in Belgium and the NetherlandsChris Van Raemdonck+32 499 58 55 31 email@example.com Acacia Pharma Group plcThe Officers’ Mess, Royston Road, Duxford, Cambridge, CB22 4QH, United KingdomCompany number 9759376 www.acaciapharma.com