Reports
Publicerat: 2019-01-30 08:34:46
Interim report – Summary
Since OmniCar Holding AB was formed in May 2017, no comparative figures for the first four months of 2017 are available for the parent company. The 2017 numbers presented include previous marketing services revenue that no longer forms part of OMNICAR’s services. OMNICAR is now a software company based on recurrent monthly licence revenue. Year-to-date (2018-01-01 – 2018-12-31) Q4 2018 (2018-10-01 - 2018-12-31) *Earnings per share: The net profit or loss for the period divided by the average number of shares. The average number of shares in the Group for the fourth quarter amounted to 14 495 710. The registered number of shares in OmniCar as at 31 December 2018 totalled 14 495 710. **Solvency: Equity as a percentage of the balance sheet total. OMNICAR hit a new monthly revenue high in September and now enters the fourth quarter on a very positive note. OMNICAR has increased sales significantly, which has resulted in a new monthly revenue record of SEK 1,495 million. It has been yet another great week for OMNICAR, which continues to sign five new customers to the SAM platform. The five new customers are One Stop Auto (Sweden), Bil34 (Sweden), HT Biler (Denmark), Danee (Denmark), Fyns Bil and Bådsalg (Denmark). The customers will not only benefit from an efficient and easy-to-use platform. As part of the deal, they will also receive sales staff training in order to make the most out of the platform. Two of the latest customers to have signed onto the solution are RAF Motors and Globus Biler A/S. RAF Motors and Globus Biler A/S are two of the best-selling Hyundai and Mitsubishi dealerships in Denmark. Both dealerships needed a solution for selling service agreements and immediately turned to OMNICAR SAM. Among several new customers, two of the latest workshops – Undal Autoservice ApS with more than 40 years of experience and Dalmose Auto – have both chosen OmniCar due to new market demands. Both workshops have witnessed a market in development which for them has required a new strategy and an increased sale of service agreements to obtain customer loyalty. As part of its strategy to increase customer loyalty and after- market sales, the renowned car dealer group Bjarne Nielsen A/S has signed a contract with OMNICAR. With more than 30 years of experience and more than 330 employees Bjarne Nielsen A/S is one of the largest dealerships in Denmark. After only 12 months on the market, OMNICAR has impressed both workshops and dealerships throughout the Nordic countries with its SAM solution. After months of new customers, we are proud to announce that an impressive and record-setting 22 new customers signed onto OMNICAR SAM last week. Due to the new pricing model and market trends, the increase of customers is set to continue for the rest of the year. OMNICAR SAM is set to be implemented for Mercedes-Benz Norway taxis and driving schools, and a wide variety of Mercedes-Benz utility vehicles such as coaches, buses, police cars, ambulances, food trucks and garbage trucks. The new deal shows how scalable SAM is, and demonstrates that the software is applicable to all kinds of vehicles. OmniCar Holding AB held an Extraordinary General Meeting on Thursday, 3 January 2019. More detailed information on the resolutions may be obtained from the notice of the EGM and the complete proposals that are available on the Company’s website. Dear shareholders First of all I would like to share the key take-aways for the recent quarter PERFORMANCE FIGURES FOR THE PERIOD The Group’s net revenue for the fourth quarter amounted to SEK 4 258 thousand and to SEK 13 979 thousand year-to-date. The Group’s Q4 2018 interim loss after tax totalled SEK -2 780 thousand and year-to-date totalled SEK -27 019 thousand. The Group’s cash and cash equivalents as at 31 December 2018 amounted to SEK 3 269 thousand. The Group’s solvency ratio as at 31 December 2018 was 68.13%. * CEO Claus T. Hansen owns 100% of the shares in Oliver Invest ApS. ** LMW Invest was formed, during Q2 2018, and consists of Mayday Holding ApS, Wildcard.dk ApS and Lippa2008 ApS. Board member Mikkel Lippmann owns 100% of the shares in Wildcard.DK ApS; former board member Stig Jensen owns 100% of the shares in Lippa2008 ApS and co-founder Mikkel Steen Andersen owns 100% of the shares in Mayday Holding ApS. **** 2,000,000 shares that were registered on 2018-01-04 are included in the number of shares. There is one type of share in OMNICAR. The company’s shares are listed on Spotlight Stock Market under the ticker symbol ”OMNI”. Each share entitles the holder to a pro rata share in the company’s assets and results. As at 31 December 2018, the total number of shares was 14 495 710. The average number of shares during the fourth quarter of 2018 was 14 495 710, and the average number of shares year-to-date was 14 495 710. At the extraordinary general meeting held on 29 May 2017, OMNICAR approved two warrant programmes, one offered to the board of directors and employees of the company and one to 1CT Management ApS. The warrant programmes comprise a total of 1 361 957 warrants of the 2017/2020 series, each such warrant entitling the holder to subscribe for one (1) new share in the company at a price per share of SEK 5.40. Full exercise of both warrant programmes will thus increase the number of shares in the Company by 1 361 957, resulting in a dilution of around 8.6%. An additional warrant programme was approved at the extraordinary general meeting held on 21 December 2017, comprising a total of 1 500 000 warrants. Each warrant entitles the holder to subscribe for one (1) new share at a subscription price of SEK 18.60 per share, in the period from 1 December 2019 to 30 November 2020. If the warrant program is fully exercised, the resulting dilution will be around 9.4%. Full exercise of the entire warrant programme will increase the number of shares by 2 861 957, resulting in a dilution of approximately 16.5%. As compensation in the form of warrant programmes is common in Denmark (and Sweden), the company has decided to use this compensation method as well. In addition, the warrant programmes are also a way of attracting competent employees to a company which is at a relatively early stage as well as a way of creating good value for the company. The warrant programme offered to members of the board of directors and employees of OMNICAR is – with the exception of the shareholder’s pre-emption rights – exclusively offered to Claus T. Hansen, Jesper Aagaard, Mikkel Lippmann, Stig Jensen, Claus Stillborg, Lotte Hansen, Rasmus Munch and Thomas Bendik-Poulsen. Warrants may also be subscribed for and purchased through own companies. The right to subscribe for warrants also applies to the subsidiary OMNICAR A/S. Any warrants held by OMNICAR A/S may be used as an incentive programme in connection with recruitment. The warrant programmes comprise a maximum of 1 237 000 warrants, entitling the holders to subscribe for 1 237 000 new shares in the company. The warrants may be exercised from and including 10 June 2019 through 8 June 2020. Warrant programme for 1CT Management ApS OMNICAR has offered a warrant programme to 1CT Management ApS. The number of shares available under the warrants is 124 957. The warrants may be exercised from and including 10 June 2019 through 8 June 2020. The financial statements of the Group and the parent company are prepared in accordance with the general recommendations and guidelines of the Swedish Accounting Standards Board (Bokföringsnämnden) as well as BFNAR 2012:1 Annual report and consolidated financial statements (K3). The board of directors proposes that there will be no dividend distribution for FY 2018-01-01 – 2018-12-31. The interim report has not been audited by the Company’s auditor. The Company prepares and publishes a financial report at each quarter end. Upcoming reports are planned as follows: The annual meeting will take place at the company’s offices in Helsingborg on 24th May 2019. Further information will follow. The board of directors OMNICAR Holding AB is required under the Swedish Securities Market Act (lagen om värdepappersmarknaden) to disclose the information provided herein. The information has been provided by the above contact person for publication on 30 January 2019.
Significant events in Q4 2018
01.10.2018
OMNICAR REACHES NEW MONTHLY REVENUE HIGH
03.10.2018
THE NUMBER OF OMNICAR CUSTOMERS CONTINUES TO GROW
09.10.2018
OMNICAR CONTINUES TO IMPRESS THE MARKET WITH ITS INNOVATIVE AND FLEXIBLE SOLUTION SAM
16.10.2018
CLIENTS CHOOSE OMNICAR DUE TO NEW MARKET DEMANDS
23.10.2018
BJARNE NIELSEN A/S CHOOSES OMNICAR AS ITS SERVICE AGREEMENT SOFTWARE PROVIDER
24.10.2018
DANISH AUTO INDUSTRY NOMINATES SAM FOR PRODUCT OF THE YEAR AND INITIATIVE OF THE YEAR
29.10.2018
OMNICAR SETS RECORD WITH 22 NEW CUSTOMERS IN ONE WEEK
12.11.2018
MERCEDES-BENZ NORWAY HAS CHOSEN SAM TO HANDLE SERVICE AGREEMENTS FOR UTILITY VEHICLES, TAXIS AND DRIVING SCHOOLS
Significant events post period end
04.01.2019
REPORT FROM THE EXTRAORDINARY GENERAL MEETING IN OMNICAR HOLDING AB HELD ON 3 JANUARY 2019
CEO has the floor
Outlook
Cash flow, dilution and financing
Cost
Final words
Revenue
Financial performance
Liquidity
Solvency ratio
SHAREHOLDINGS AS AT 2018-12-31
Name
Number of shares
Share of votes and capital
Oliver Invest ApS*
3 837 654
26.5%
Tine Hertz Holding ApS
2 456 164
16.9%
LMW Invest**
2 982 092
20.6%
Other
5 219 800
36.0%
In total
14 495 710
100.00%
Shares
Warrants
Warrant programme for the board of directors and employees of OMNICAR
The parties entitled to subscribe for warrants are listed below:
Principles applied in the interim report
Appropriation of profit/loss
Audit
Financial calendar
Annual general meeting
Submission of interim report Copenhagen, 30 January 2019 OMNICAR Holding AB,