KEBNI RELEASES QUARTERLY REPORT FOR Q2 2021, APRIL-JUNE
Stockholm, 23 August 2021
Events April-June 2021
· In May, KebNi resumed deliveries to Israel and delivers according to plan. Deliveries were paused due to Covid-19 restrictions.
· KebNi received prestigious test results from its partner in Russia on the testing of a demo DSNG Drive Away antenna. Subsequently, KebNi received an order of strategically very high value for this new antenna to a monetary value of approximately SEK 1,000,000.
· In May, Mr. Kristian Wallin from SAAB Dynamics was hired as Chief Commercial Officer.
· In June, KebNi hired Mr. Erik Winther as Head of Sales responsible for IMU sales.
· At the Annual General Meeting in May, it was decided that the Board will consist of Mr. David Svenn as Chairman, Mr. Anders Björkman as vice Chairman, Mr. Magnus Edman, and Mr. Jan Wäreby.
· Net sales amounted to 132 (18 800) KSEK
· Operating profit amounted to -9 904 (-2 100) KSEK
· Total assets amounted to 92 257 (89 100) KSEK
· Profit for the period amounted to -9 838 (-2 600) KSEK
· Cash flow for the period amounted to -18 191 (-1 200) KSEK
· Solidity (%) amounted to 84.0 (70.4)
· Number of employees at the end of the period were 18 (16)
Spring and early summer have gone by at a very quick pace and I am delighted to have received a warm welcome from everyone who has to do with KebNi. I have seen, and see, that this is a small company with good resources and great commitment, which makes me even happier. Now, work has continued during the Spring to develop sales, the company, and also its products during Q2.
During the quarter, we contracted another salesperson and as of mid-August, the sales team consisting of four people will thus have reached its full strength. Above all, this means a clear addition of resources to the IMU business area, where sales take place at component, system, and application level. Our first application consists of a system for monitoring scaffolding. We believe that the application we have developed, with little or no modifications, can be used in a number of other applications. The business potential of applications can hardly be overestimated. We see a large number of potential applications where systems of IMUs can be used for different types of monitoring and thus provide alarms before irreversible errors occur. Now it's a lot about prioritizing the lowest hanging fruits in the hottest markets while we work with the right partners in a favorable business model. That our first application is also the basis for a patent application is extra exciting.
Our ambition is to have a sales presence through partners in three times as many countries as we have sold in the last five years. This long-term work is ongoing in parallel with regular sales work and is expected to be completed in 2022. It is important to understand that this does not immediately mean three times as much order intake, but it should mean that our sales pipeline increases in the long run and forms the backbone of our organic growth, which is reflected in a number of valid quotations.
The first layouts of NG IMU (Next Generation IMU) are also available now, which gratifyingly means that the development continues according to plan. For those who are technically interested like us at KebNi, it should be mentioned that NG IMU is developed both as a printed circuit board (PCB) module and as an independent unit. In both cases, the option for one or two GNSS receivers (Global Navigation Satellite System) will be available. In cases where we have had the privilege of presenting and/or offering NG IMU, its price and performance have attracted much interest. Although the development will be completed during Q1 2022, I hope and believe that we will be able to start production during the latter part of this year.
At Satmission in Kalix, preparations are underway for Road Show 2021. We hope to be able to break the Covid-19 isolation during the Autumn and with a specially built DSNG van take us out on the roads in Europe to meet both current and future customers as well as partners face to face. The finale of this tour will be at the big trade fair IBC in Amsterdam where we intend to exhibit.
Regarding our marketing communication, a review of both the message and the choice of platforms is underway. This will soon be clearly visible on our website, where our ambition is for products and companies to become clearer and more consistent towards both customers and investors.
With that said, I look forward to continuing the development of KebNi AB.
Torbjörn Saxmo, CEO
FOR MORE INFORMATION CONTACT:
Torbjörn Saxmo, CEO
Email: [email protected]
Phone: +46 (0)709 16 14 82
About KebNi AB (publ)
KebNi has a long history and extensive experience in maritime and land-based satellite antenna solutions as well as solutions for inertial sensor systems for motion detection. The company, headquartered in Stockholm, is focused on becoming a leading supplier of reliable technology, products and solutions for satellite communications, security, positioning and stabilization. KebNi's products and solutions are aimed at government, military and commercial customers. The company operates in a global market, directly and through a network of resellers.
KebNi currently has operations in two different product areas - satellite communication and inertial sensors. These are described in detail at www.kebni.com.
KebNi "brings stability to a world in motion".
The company is listed on Nasdaq First North Growth Market [KEBNI B] and the company's Certified Adviser is G&W Fondkommission AB ([email protected], +46 8 503 000 50).
This information is such that KebNi AB is obliged to publish in accordance with the EU Market Abuse Regulation (MAR).
The information was submitted, through the care of the contact person above, for publication on August 23, 2021 at 08:30 CET.
This report has not been subject to review by the company's auditors.
KebNi släpper uppdatering om Covid-19, utlöst av förra veckans meddelanden om att Israel, där KebNi för närvarande gör affärer, stänger gränserna. Kopplat till eventuella förseningar orsakade av Covid-19 har företaget därför tecknat ett brygglån på 12 MSEK delvis från närstående. Under första kvartalet nästa år förväntar sig företaget ca 11 MSEK i betalning från sin israeliska kund på nuvarande kontrakt.
KebNi AB (publ) receives an order for Drive Away Antenna Systems with a total value of 183 915 EUR (approx. 1,9 MSEK)
KebNi AB (publ) receives first order for its coming inertial sensing product family SensAItion ahead of official release
KebNi anlitar Johan Hårdén för förvärvsexpansion.
KEBNI recruits Johan Hårdén as advisor for pre-expansion plan.
KebNi spänner bågen
Under årets tredje kvartal har KebNi tagit avstamp mot framtiden. Parallellt med leveranser till vår kund i Israel och därmed ett stabiliserat kassaflöde, samt ytterligare fokus på försäljningsarbete med fler kundbesök och offertleveranser, så har ett intensivt strategiarbete pågått under kvartalet. I det arbetet har vi sett stora möjligheter och nu stakat ut vägen för att nå dem. KebNi har som plan att växa både organiskt och genom förvärv. Av affärsplanens organiska del framgår det att KebNi har målsättningen att:
Växa SATCOM snabbare än den adresserbara marknaden de närmaste 5 åren (Marknadstillväxt SatCom Maritime ~20% and Land ~4%).
Inertial Sensing och SATCOM kommer att vara lika stora produktområden år 2025.
Ambitionen är att uppnå positivt rörelseresultat under andra halvåret 2023, och uppnå positivt kassaflöde under 2024
KebNi tightens the arc.
During the third quarter of the year, KebNi took its starting point in the future. In parallel with deliveries to our customer in Israel and thus a stabilized cash flow, as well as further focus on sales work with more customer visits and quotation deliveries, intensive strategy work has been done during the quarter. Within that work, we have seen great opportunities and have paved the way to reach them. KebNi plans to grow both organically and through acquisitions. The organic part of the business plan states that KebNi aims to:
- Grow SATCOM faster than the addressable market over the next 5 years (Market growth SatCom Maritime ~ 20% and Land ~ 4%).
- Inertial Sensing and SATCOM will be equal product areas in 2025.
- The ambition is to achieve a positive operating profit during the second half of 2023, and to achieve a positive cash flow during 2024
KebNi AB (publ) has signed a Distribution and Framework Agreement with a new customer in Turkey for Satmission' s Drive-Away Antenna Systems. The customer has communicated an estimated three-year sales forecast of approximately 9 MEUR (approx. 90 MSEK). An initial sample order has been placed, with the value of 92 493 EUR (approx. 920 KSEK).
KebNi AB (publ) receives two orders for Drive Away Antenna Systems with a total order value of 96 800 EUR (approximately 970 KSEK)
KebNi AB (publ) receives an order for Drive Away Antenna Systems with an order value of EUR 297 352 (approximately MSEK 2.9)