Awardit Interim Report January - March 2022

5/13/2022

Awardit AB (publ), listed on the NASDAQ First North Growth Market, submits the following report for the period 1 January - 31 March 2022.

Jan - March 2022

  • Net revenue amounted to MSEK 167.4 (62.3), of which acquired net revenue was MSEK 80.3.
  • EBITA result amounted to MSEK 5.7 (6.6) and EBITA margin amounted to 3.4 (10.6) percent.
  • Operating result (EBIT) amounted to MSEK -3.5 (4.7) and EBIT margin amounted to -2.1 (7.6) percent, of which acquired operating result (EBIT) was MSEK -4.8.
  • The result for the quarter amounted to MSEK -12.4 (3.2) and earnings per share before dilution was SEK -1.49 (0.49), and earnings per share after dilution was SEK -1.49 (0.47).

Significant events during the first quarter

  • On 2 February, Awardit appointed Erik Grohman as the new CEO, taking office on 7 March. Founder, Niklas Lundqvist, continues in the Company, with a focus on acquisitions and business development.
  • On 21 March, the shareholders of Awardit were summoned to an Extraordinary General Meeting on 4 April. The Board of Directors proposed that the Extraordinary General Meeting resolve to establish a subscription-based incentive programme for employees in Awardit and a private placement of subscription warrants, as well as a resolution on authorisation for the Board of Directors to make decisions on issues of shares.

Significant events after the end of the reporting period

  • On 4 April, it was announced that the Annual General Meeting had resolved, in accordance with the Board of Directors’ proposal, to introduce an incentive programme for senior executives, key individuals, and other employees, consisting of a maximum of 250 000 subscription warrants in a series 2022/2025, where each subscription warrant gives the right to subscribe for one (1 ) new share in Awardit, and to authorise the Board of Directors, within the framework of the current Articles of Association, on one or more occasions until the next Annual General Meeting, decide on an increase in the Company's share capital through a new issue of shares.

In a comment to the first quarter of the year CEO Erik Grohman says:

“In the first quarter, Awardit showed its strength through continued solid organic sales growth and a fundamentally robust margin. Total sales growth was 169 percent, with organic growth of 40 percent driven by new customers and increased sales to existing customers within our loyalty and gift card programs. The organic growth has continued in April, with over 30 percent increase compared to last year. During the quarter, we saw a healthy increase in earnings and margins, however non-recurring events had a negative effect on the results. After two months as CEO, I have great faith in Awardit and look forward to working with the team to continue developing the company to reach its full potential”.

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This information is such that Awardit AB (publ) is obliged to disclose pursuant to the EU Market Abuse Regulation. The information was released for public disclosure, through the agency of the contact persons above, on May 13, 2022 at 08:30 CET.