Reports

Publicerat: 2019-01-30 08:34:46

OmniCar Holding AB: Interim report 2018-01-01 - 2018-12-31

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) 

  • YTD revenue totalled SEK 13 979 thousand 
  • Net loss for YTD amounted to SEK –27 019 
  • YTD earnings per share* is SEK – 1.86 

Q4 2018 (2018-10-01 - 2018-12-31) 

  • Revenue totalled SEK 4 258 thousand in Q4 
  • Net loss for Q4 amounted to –2 780 
  • Earnings per share* is SEK -0.19 
  • The solvency ratio** is 68.13% as at 31 December 2018. 

*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. 

Significant events in Q4 2018

01.10.2018
OMNICAR REACHES NEW MONTHLY REVENUE HIGH

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.

03.10.2018
THE NUMBER OF OMNICAR CUSTOMERS CONTINUES TO GROW

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.

09.10.2018
OMNICAR CONTINUES TO IMPRESS THE MARKET WITH ITS INNOVATIVE AND FLEXIBLE SOLUTION SAM

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.

16.10.2018
CLIENTS CHOOSE OMNICAR DUE TO NEW MARKET DEMANDS

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.

23.10.2018
BJARNE NIELSEN A/S CHOOSES OMNICAR AS ITS SERVICE AGREEMENT SOFTWARE PROVIDER

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.

24.10.2018
DANISH AUTO INDUSTRY NOMINATES SAM FOR PRODUCT OF THE YEAR AND INITIATIVE OF THE YEAR

After only 12 months on the market, OMNICAR has impressed both workshops and dealerships throughout the Nordic countries with its SAM solution.

29.10.2018
OMNICAR SETS RECORD WITH 22 NEW CUSTOMERS IN ONE WEEK

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.

12.11.2018
MERCEDES-BENZ NORWAY HAS CHOSEN SAM TO HANDLE SERVICE AGREEMENTS FOR UTILITY VEHICLES, TAXIS AND DRIVING SCHOOLS

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.

Significant events post period end

04.01.2019
REPORT FROM THE EXTRAORDINARY GENERAL MEETING IN OMNICAR HOLDING AB HELD ON 3 JANUARY 2019

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.

CEO has the floor 

Dear shareholders

 First of all I would like to share the key take-aways for the recent quarter 

  •      Our Q4 2018 has showed a 25% revenue increase compared to Q3 2018. In our Q3 2018 report we estimated our Q4 2018 revenue in the range of SEK 4 million – the result was SEK 4,258 million
  •      Our net profit is SEK -2,78 million, up SEK 7.2 million compared to Q3 2018 
Outlook
  •      Q1 2019 will reach a revenue in the range of SEK 4.5 - 5 million
  •      In our Q3 2018 report, we estimated that Omnicar would reach profitability in the first half of 2020 – this has now moved forward to the end of 2019
Cash flow, dilution and financing
  • We will be cash flow positive in Q3 2019 - we estimate that 50% of our revenue in 2019 will be based on a   leasing contract where Omnicar will get the first 24-month contract value up front – we still maintain this forecast 
Cost
  • We have reduced our cost by 18% from SEK -12 906   in Q3 2018 million to SEK 10.552 in Q4 2018. In Q1 2019 we have a forecast of SEK 7,5 mill, a further reduction of 29%
Final words
  • I will invite all shareholders to join our webcast on 31 January 2019 at 1.30 p.m. 

 PERFORMANCE FIGURES FOR THE PERIOD 

Revenue

The Group’s net revenue for the fourth quarter amounted to SEK 4 258 thousand and to SEK 13 979 thousand year-to-date.

Financial performance

The Group’s Q4 2018 interim loss after tax totalled SEK -2 780 thousand and year-to-date totalled SEK -27 019 thousand.

Liquidity

The Group’s cash and cash equivalents as at 31 December 2018 amounted to SEK 3 269 thousand.

Solvency ratio

The Group’s solvency ratio as at 31 December 2018 was 68.13%.

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% 

* 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. 


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.

Warrants

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%.

Warrant programme for the board of directors and employees of OMNICAR

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.

The parties entitled to subscribe for warrants are listed below:
  • Members of the executive board and the board of directors may subscribe for a maximum of 1 115 000 warrants
  • Employees may subscribe for a maximum of 52 000 warrants 
  • OMNICAR A/S may subscribe for a maximum of 70 000 warrants 

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.

Principles applied in the interim report

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).

Appropriation of profit/loss

The board of directors proposes that there will be no dividend distribution for FY 2018-01-01 – 2018-12-31.

Audit

The interim report has not been audited by the Company’s auditor.

Financial calendar

The Company prepares and publishes a financial report at each quarter end. Upcoming reports are planned as follows:

  • Q1 2019 report                          2019-05-31 
  • Q2 2019 report                          2019-08-30 
  • Q3 2019 report                          2019-11-29 
  • Q4 2019 report                          2020-02-28 
  • Annual report 2018                   2019-04-30 
Annual general meeting

The annual meeting will take place at the company’s offices in Helsingborg on 24th May 2019. Further information will follow.

Submission of interim report Copenhagen, 30 January 2019 OMNICAR Holding AB,

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.




Läs mer hos Cision
Läs mer om OmniCar Holding AB