Press release from Companies
Published: 2024-03-27 22:00:34
Company announcement no. 10-2024 Today, Audientes A/S releases its financial results for 2023. Both the financial and operational results are in line with the Q4/Year-end 2023 Financial Report of February 22, 2024.
March 27, 2024
Audientes A/S’ (CVR 36047631) financial results for the period January 01 – December 31, 2023 have been approved by the Board of Directors, and the company has now published its Annual Report 2023. Adverse opinion from the Company’s auditor The Board of Directors in Audientes have prepared the Annual Report 2023 as a going concern based on its belief in the Company meeting the sales targets for the coming 12 months and succeeding with its capitalization plans to achieve the needed funding. Christensen Kjærulff, State Authorized Public Accountant Firm, the auditor of Audientes A/S, have stated an adverse opinion as the Company's management have not been able to provide proper documentation for this, and therefore expressed a reservation that the annual financial statements have been prepared on a going concern basis. Reference is made to the independent auditor’s report in the Annual Report 2023 page 17. "Audientes' sales performance in 2023 improved but was below expectations because we had several dissapointments in the Indian market, which we have taken action to rectify. We began to develop the Nepalese market with a new distribution partner and entered the European market with nascent sales on ecommerce in the Nordics. Our focus in 2024 remains on growing our business by entering new markets such as Japan and China and further developing the existing markets. We believe in our ability to secure the necessary funding from existing and new shareholders, and aim to continue our planned activities including developing new products for the coming years with our partners. We are grateful for the support of our shareholders and look forward to an exciting and successful year ahead." TDKK 2023 2022 2021 Revenue 1,266 79 0 Other operating income 1,395 856 214 EBITDA -7,299 -13,964 -13,217 Profit/loss for the year -13,405 -24,362 -12,901 Cash and cash equivalents 434 6,948 10,554 Equity 4,020 13,049 25,484 Equity ratio (%) 28 49 81 Earnings per share (DKK) -0.30 -1.28 -1.38 No of shares beginning of the period (pcs.) 28,747,020 9,349,010 9,349,010 No of shares end of period (pcs.) 59,384,318 28,747,020 9,349,010 Average shares 44,065,669 19,048,015 9,349,010 The Company has today updated its financial calendar – the Annual General Meeting is for planning related reasons moved to April 18, 2024: Date Event April 18, 2024 Annual General Meeting 2024 May 23, 2024 Q1 2024 reporting August 29, 2024 Q2 / half-year 2024 reporting November 21, 2024 Q3 2024 reporting February 26, 2025 Q4 / end of year 2024 reporting Audientes annual report for 2023 can be found here: https://www.audientes.com/investor-relations/ Audientes CEO Steen Thygesen will present the annual report for 2023 and latest news at 11 AM / 11:00 (CET), followed by a Q&A session. Link to registration at HC Andersen Capital. Steen Thygesen, CEO, Audientes A/S Phone: +45 77 34 16 80 Email: st@audientes.com Audientes A/S is a Danish hearing health company specializing in smart, self-fitting and affordable hearing aids and advanced hearables. Audientes’ unique hearing aid solution, Ven™ by Audientes, is available for purchase in the Indian and Nepalese markets and will be introduced in other markets in the coming years. Companion by Audientes is an advanced hearable, a consumer electronics product, that is commercially available in Europe and later in 2024 in Japan, China, and other markets. Audientes’ mission is to make high-quality hearing aids and hearables for hearing improvement or hearing enhancement accessible to everyone who needs them globally. Audientes is listed on Spotlight Stock Market Denmark (AUDNTS) and headquartered in Copenhagen, Denmark with a subsidiary in Hyderabad, India. For additional information please refer to the company’s websites, www.audientes.com, www.audientes.eu, or www.audientes.in.
Steen Thygesen, CEO Audientes A/S, comments:Performance highlights for 2023
Financial summary for the Group
Operational Highlights
Recently in 2023 and Outlook
Financial calendar
Link to Annual report 2023
Annual report presentation: April 3, 2024 11:00 AM (11:00 CET)
For further information, please contact:
About Audientes A/S