2021.08.23 Press release, Regulatory, Report


Stockholm, 23 August 2021

Events April-June 2021

· In May, KebNi resumed deliveries to Israel and delivers according to plan. Deliveries were paused due to Covid-19 restrictions.

· KebNi received prestigious test results from its partner in Russia on the testing of a demo DSNG Drive Away antenna. Subsequently, KebNi received an order of strategically very high value for this new antenna to a monetary value of approximately SEK 1,000,000.

· In May, Mr. Kristian Wallin from SAAB Dynamics was hired as Chief Commercial Officer.

· In June, KebNi hired Mr. Erik Winther as Head of Sales responsible for IMU sales.

· At the Annual General Meeting in May, it was decided that the Board will consist of Mr. David Svenn as Chairman, Mr. Anders Björkman as vice Chairman, Mr. Magnus Edman, and Mr. Jan Wäreby.

Key figures

· Net sales amounted to 132 (18 800) KSEK

· Operating profit amounted to -9 904 (-2 100) KSEK

· Total assets amounted to 92 257 (89 100) KSEK

· Profit for the period amounted to -9 838 (-2 600) KSEK

· Cash flow for the period amounted to -18 191 (-1 200) KSEK

· Solidity (%) amounted to 84.0 (70.4)

· Number of employees at the end of the period were 18 (16)

CEO words

Spring and early summer have gone by at a very quick pace and I am delighted to have received a warm welcome from everyone who has to do with KebNi. I have seen, and see, that this is a small company with good resources and great commitment, which makes me even happier. Now, work has continued during the Spring to develop sales, the company, and also its products during Q2.

During the quarter, we contracted another salesperson and as of mid-August, the sales team consisting of four people will thus have reached its full strength. Above all, this means a clear addition of resources to the IMU business area, where sales take place at component, system, and application level. Our first application consists of a system for monitoring scaffolding. We believe that the application we have developed, with little or no modifications, can be used in a number of other applications. The business potential of applications can hardly be overestimated. We see a large number of potential applications where systems of IMUs can be used for different types of monitoring and thus provide alarms before irreversible errors occur. Now it’s a lot about prioritizing the lowest hanging fruits in the hottest markets while we work with the right partners in a favorable business model. That our first application is also the basis for a patent application is extra exciting.

Our ambition is to have a sales presence through partners in three times as many countries as we have sold in the last five years. This long-term work is ongoing in parallel with regular sales work and is expected to be completed in 2022. It is important to understand that this does not immediately mean three times as much order intake, but it should mean that our sales pipeline increases in the long run and forms the backbone of our organic growth, which is reflected in a number of valid quotations.

The first layouts of NG IMU (Next Generation IMU) are also available now, which gratifyingly means that the development continues according to plan. For those who are technically interested like us at KebNi, it should be mentioned that NG IMU is developed both as a printed circuit board (PCB) module and as an independent unit. In both cases, the option for one or two GNSS receivers (Global Navigation Satellite System) will be available. In cases where we have had the privilege of presenting and/or offering NG IMU, its price and performance have attracted much interest. Although the development will be completed during Q1 2022, I hope and believe that we will be able to start production during the latter part of this year.

At Satmission in Kalix, preparations are underway for Road Show 2021. We hope to be able to break the Covid-19 isolation during the Autumn and with a specially built DSNG van take us out on the roads in Europe to meet both current and future customers as well as partners face to face. The finale of this tour will be at the big trade fair IBC in Amsterdam where we intend to exhibit.

Regarding our marketing communication, a review of both the message and the choice of platforms is underway. This will soon be clearly visible on our website, where our ambition is for products and companies to become clearer and more consistent towards both customers and investors.

With that said, I look forward to continuing the development of KebNi AB.

Torbjörn Saxmo, CEO