GBLT CORP. announces their 2019 financials; Strong improvement compared to 2018

TORONTO and DUEREN, Germany , June 15, 2020 (GLOBE NEWSWIRE) -- GBLT Corp. (TSXV: GBLT) (“GBLT” or the “Company”), indirectly through its operating company, GBT GmbH, a diversified lighting and battery company and the official licensee for Polaroid light products (LED and all other lighting technology including retail and projects), Polaroid energy storage systems (mobile and fixed systems), AGFAPHOTO mobile energy products (such as batteries) and Dr. Senst medical consumables, today reported financial results for the fiscal year 2019, ended 31^st of December 2019

2019 Financial Highlights

• GBLT EBITDA improved by 50 % from (1,104 Mio Euro) in 2018 to (0,553 Mio Euro) in 2019.
   
• The overall loss had been reduced by 74 % from (4,15 Mio Euro)* in 2018 to (1,099 Mio Euro) in 2019.
   
• While the group turnover had been nearly stable 20,7 Mio Euro in 2018 compared to 20,4 Mio Euro in 2019 the overall costs had been reduced by 23%
   
• Operating entity GBT improved their real operating results from (1.087.900 Euro)** in 2018 to (185.834 Euro) in 2019 by 83%

*/** 2018 had a one time effect. GBLT PLC UK has waived a receivable against GBT GmbH of EUR 1.891 million
Taking that in consideration the overall loss of GBLT had been reduced in 2019 from 2018 by 51% (2.268 Mio.) in 2018, (1.099 Mio) in 2019

Business Update

2019 was an exciting year for the company. The restart after the listing year 2018. Although a number of significant developments have taken place we would like to brief you on some of the more important material events for GBLT that have occurred and why we believe they matter to our business.

Polaroid mobile storage systems will be Kodak new licensee agreement with one of the most recognized brands
In 2019 the world noticed that green thinking is getting more and more important. As a result of that we noticed a massive increased demand for storage systems with higher capacities to replace the traditional, fuel consuming generators. The demand for professional use is climbing. While Polaroid is more a consumable life style brand with a relatively strong appeal to females, we are planning to increase our mobile storage product range for professionals in 2020, for which a brand like KODAK is more usable. The brand KODAK is more “crunchy” and beside consumable for B2B or investment goods more suitable.