Ekobot AB (publ) publishes interim report for January – June 2022

Ekobot AB (publ) (FN STO:EKOBOT) today publishes the company's interim report for the period January – June 2022, which is available on the company's website. https://www.ekobot.se/investors/ Despite a turbulent environment as a result of Russia's invasion of Ukraine, and the effects that followed from the pandemic, the company can report a successful quarter. In the second quarter of 2022, Ekobot completed its first commercial installations of robots at a customer in the Netherlands and Sweden. The period has also included successful field tests, financial support from the Swedish Agency for Agriculture and a rights issue with the aim of financing the company's commercialization.

Financial information

Januari – June 2022

Figures in parentheses refer to the corresponding period for the previous year.

  • Net sales during the period totaled SEK 172 thousand (0).
  • Net earnings for the period totaled SEK -2,122 thousand (-2,282).
  • Earnings per share before dilution totaled SEK -0.72 (-0.96).
  • Total assets at the end of the period totaled SEK 32,810 thousand (26,834).
  • Cash and cash equivalents at the end of the period totaled SEK 5,182 thousand (16,652).

January – June 2022

Figures in parentheses refer to the corresponding period for the previous year.

  • Net sales during the period totaled SEK 172 thousand (0).
  • Net earnings for the period totaled SEK -4,547 thousand (-4,018).
  • Earnings per share before dilution totaled SEK -1.71 (-2.02).
  • Total assets at the end of the period totaled SEK 32,810 thousand (26,834).
  • Cash and cash equivalents at the end of the period totaled SEK 5,182 thousand (16,652).

Significant events

January–March 2022

  • In February, the company submitted a patent application to the European Patent Office for a tool carrier unit for autonomous agricultural vehicles.
  • Ekobot signed letters of intent with three customers in the Netherlands.
  • The company received an initial order for a pilot installation for a customer in the Netherlands.
  • The Board resolved on a rights issue, which requires approval by an extraordinary general meeting.
  • Ekobot has received an initial order for a pilot installation with one of Sweden’s biggest vegetable growers.

April – June 2022

  • In April, the company was awarded project support of approx SEK 5.7 million from the Swedish Board of Agriculture.
  • An extraordinary shareholders meeting held on April 20 resolved to conduct a proposed share issue.
  • A rights issue was concluded on May 19, providing the company with SEK 9.3 million before issue expenses.

Significant events after the end of the period

  • Almi Företagspartner Mälardalen continued to show confidence in the company and granted a SEK 2 million loan.
  • The first indicative results from the year’s field trials in Sweden were obtained in July. The results show that Ekobot’s agricultural robot WEAI (autonomous weeder) greatly reduces the need for chemicals while also providing the farmer with the ability to increase productivity.

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Demos in Sweden

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