Ekobot AB (publ) publishes Q4 year-end report 2021

The fourth quarter of 2021 was marked by a spirit of the future. During the end of the quarter, several important milestones were reached. During the fourth quarter, Ekobot entered a very important strategic cooperation project. In December, it became clear that Ekobot could begin an integration with Saga Robotics' robot platform Thorwald. The collaboration is very well in line with the company's strategic goals for hardware development of Ekobot's robot system.

Financial information

October – December 2021

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

  • Net sales during the period totaled SEK 0 thousand (0).
  • Net earnings for the period totaled SEK -1,508 thousand (-1,906).
  • Earnings per share before dilution totaled SEK -0.64 (-1.55).
  • Total assets at the end of the period totaled SEK 26,826 thousand (8,916).
  • Cash and cash equivalents at the end of the period totaled SEK 9,004 thousand (1,274).

January – December 2021

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

  • Net sales during the period totaled SEK 0 thousand (0).
  • Net earnings for the period totaled SEK -7,067 thousand (-3,964).
  • Earnings per share before dilution totaled SEK -3.24 (-10.27).
  • Total assets at the end of the period totaled SEK 26,826 thousand (8,916).
  • Cash and cash equivalents at the end of the period totaled SEK 9,004 thousand (1,274).

Significant events

January – December 2021

  • Almi Corporate partner Mälardalen AB showed confidence in the company and granted a SEK 2.6 million loan.
  • On March 15, the company was introduced on the Nasdaq First North Growth Market and also carried out a new share issue that will bring in SEK 20.5 million to the company before issue expenses.
  • The company was a finalist in the Agtech Challenge innovation contest and was granted market development support by the Swedish Board of Agriculture.
  • The company receives EU support and forms part of a collaborative project with Europe’s leading agricultural technology university, Wageningen University Research.
  • Erik Jonuks (formally deputy CEO) took over as CEO on April 15 when Ulf Nordbeck announced his decision to step down from his post. Ulf will maintain his commitment to the company as a shareholder and board member.
  • Tomas Täuber was appointed new Technical Manager, also on April 15. Tomas is an experienced leader with a solid technical background.
  • At the end of May, the company and Scanfil in Åtvidaberg began a collaboration aimed at initiating an industrialization process for their robotic platform, Ekobot Gen III.
  • The company and Telia have begun a collaboration to create a powerful solution for efficient precision farming. The solution is based on connection to Telia’s 5G network.
  • In June, the company submitted a patent application to the European Patent and Registration Office for a cutting, linear weed control system.
  • Victoria Woyland was elected to the Board on June 30. Victoria is a great asset to Ekobot’s board, as she has a broad background in areas such as aftermarket, business development, IT and digital service development.
  • In September, the company took its first important step toward exporting to the European market by conducting a number of highly successful field tests in the Netherlands.
  • On October 7, in fierce competition with Sweden’s top agricultural innovations, the company won first prize in the Hushållningssällskapet (Rural Economy and Agricultural Societies) innovation contest, Agtech Challenge 2021.
  • On November 1, together with Wageningen University and Research, the company published promising field test results. The test results show very rapid and promising development of the robot system’s effectiveness.
  • In December, the company will initiate an integration with the Saga Robotics Thorvald robot platform with the aim of accelerating its market introduction in 2022.
  • The company is beginning a collaboration with the Pinpoint Estimates platform to capture broader market expectations. Pinpoint is an open-source platform that compiles market expectations in the run-up to listed companies’ full year and quarterly reports.
  • Almi Mälardalen AB has granted Ekobot AB (publ) a green loan of around SEK 1.9 million. Almi’s green loans are aimed at financing green investments that pursue one or more of the six environmental objectives in the EU’s taxonomy.
  • REGION VÄSTMANLAND has granted the company support to a maximum of SEK 313,550 for the engagement of consultancy services. The subsidy may total 50% of the approved support base.
  • The company received positive advance notification regarding support from the Swedish Board of Agriculture. The support is aimed at allowing the company to conduct large-scale field tests and to begin collecting field data during the 2022 growing season. The final amount has not yet been determined, but an indication would be in the region of SEK 4.5 to 5.9 million.

Significant events after the end of the period

  • The company files a new patent application for its tool system in February.
  • The company signs letters of intent with three customers in the Netherlands.

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Demos in Sweden

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