2021.05.25 Press release, Regulatory, Report


Stockholm, 25 May 2021

Events January-March 2021

· On February 1, Torbjörn Saxmo took over as the new CEO of KebNi.

· At the beginning of March, KebNi carried out a directed new share issue that brought in approximately SEK 12,141,000, and KebNi thus gained a long-term major shareholder.

· At the end of March, KebNi carried out a directed new share issue that brought in approximately SEK 26,220,000, thereby securing several more long-term major shareholders and strengthening capital for the year.

Key figures

· Net sales amounted to 1,788 (14,100) KSEK

· Operating profit amounted to -11,888 (-1,300) KSEK

· Total assets amounted to 105,005 (61,000) KSEK

· Profit for the period amounted to -11,798 (-1,400) KSEK

· Solidity (%) amounted to 87.7 (81.0)

· The number of employees at the end of the period increased to 18 (9)

CEO words

I can now happily sum up my first [just over] 100 days as CEO of KebNi AB. My impressions are a stable product portfolio, at the same time as work on new products is in full swing, for example Next Generation IMU (NG IMU). The knowledgeable and committed staff is very impressive.

For me, the company has two clear parts. The first and perhaps most obvious part is Satellite Communication, SatCom, which includes the development and production of all antenna systems. The second part, Inertial Sensing, inertial sensors or simply IMUs, consists of both production and development of IMU based applications. In both areas, I believe that our products possess a high level of performance at a very competitive price.

The strategy and business plan work is in full swing and the ambition is to be completed in early September. The strategy is expected to include some new elements, but not to specify a completely new direction. Organic growth will be very important during the coming business plan period. However, we insist that the continued expansion will be strengthened and stabilized with a number of acquisitions. In 2020, Satmission Kalix was acquired, which now constitutes a fantastic asset in KebNi’s product portfolio. Work is now underway to integrate Satmission into KebNi, where a number of identified synergies are expected to elevate the entire SatCom area.

The first two prototypes of the custom-built IMU have been delivered to Saab Dynamics. It is with excitement that we look forward to the results of the tests that are now being carried out. The internal development work is progressing according to plan. The same applies to the development of NG IMU, which is expected to be completed in early 2022. So far, we have had the opportunity to test the level of our product against the requirements of two companies operating in self-driving vehicles. On both of these occasions, the specification has met the requirements, something that I see as proof of our ability and that we are right in the segment (high grade commercial IMUs).

When I took over as CEO on 1st of February, 1.4 people worked with direct sales. The corresponding figure today is 3 and after the summer we will be 4 people. I believe that this is the level we will continue to be at and an important part of this is the recruitment of our Chief Commercial Officer, Kristian Wallin, who was announced last week. In addition to traditional sales and expanding the sales force, the quarter has been devoted to starting to build up a network of resellers / business consultants in many countries. Compared to the last five years, we will have a presence in three times as many countries. This will be the backbone of our organic growth.

In terms of marketing, we will raise our profile. Work is underway on a general review of marketing materials such as product data sheets, presentations, etc. During the autumn, we will focus on participation in the IBC2021 trade fair in Amsterdam and next spring at the Satellite2022 trade fair in Washington D.C. The latter is somewhat more focused on the military segment. Furthermore, we intend to do a roadshow in Europe with an automated antenna from Satmission. Here, potential customers and partners will be able to see our product live.

Finally, I am impressed by the dedication that was shown in connection with the high-priority delivery to Israel. No personal effort was spared, and the staff showed a loyalty to the company which makes me very proud. When I also hear how the customer praises both employees and the product, I look forward with confidence to an exciting journey at KebNi’s helm.

Torbjörn Saxmo, CEO