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iZafe Group Q3 Interim Report, July-September 2021

today November 29, releases its Q3 Interim Report.Summary of financial performance Net sales for the quarter totaled SEK 38 thousand (701). Sales for the quarter comprised revenue related to Dosell sales.Operating income for the quarter totaled SEK …

STOCKHOLM, SWEDEN / ACCESSWIRE / November 29, 2021 / iZafe Group (STO:IZAFE-B)

Stockholm, Sweden - iZafe Group AB (publ.) (NASDAQ First North: IZAFE B) - today November 29, releases its Q3 Interim Report.

Summary of financial performance

  • Net sales for the quarter totaled SEK 38 thousand (701). Sales for the quarter comprised revenue related to Dosell sales.
  • Operating income for the quarter totaled SEK -5,342 thousand (7,255). The comparative period included the non-recurring effect from the sale of iZafe AB. Excluding the sale of iZafe, operating profit for the comparative period amounted to SEK -6,745 thousand.
  • Income after financial items for the quarter was SEK -6,183 thousand (7,103). Excluding the sale of iZafe, income after financial items for the comparative period amounted to SEK -6,897 thousand.
  • Cash flow for the period was SEK -6,475 thousand (8,818). The positive cash flow for the comparative period was due to the proceeds received from the divestment of iZafe AB.
  • Earnings per share for the quarter, basic and diluted, were SEK -0.2 (0.2).
  • Equity per share at the end of the period was SEK 1.5 (1.1).
  • The equity ratio at the end of the period was 62.3 percent (87.4).

Important events in the quarter

  • iZafe decided to carry out a fully guaranteed rights issue of units amounting to approximately SEK 53 million. The rights issue is fully guaranteed.
  • iZafe Group held a general meeting of the shareholders, resulting in a supplementary general meeting at which a majority of shareholders requested an alternative Board of Directors, which was voted through.

The consumer pilot project has been successfully completed, with the consumer version of the Dosell medication-dispensing robot found to be safe and easy to use. Following the development of the consumer version of Dosell in Sweden, this version will also be launched in Italy in 2021.

  • iZafe Group has signed an agreement with Apoteket AB to introduce Dosell on the Swedish consumer market, exclusively through Apoteket AB's channels. The agreement with Apoteket, and its unique market position as one of the leading suppliers of medication sachets on the Swedish market, creates a direct market of the more than 200,000 people who currently take medication using medication sachets from suppliers such as Apoteket.

Important events since the end of the quarter

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iZafe Group Q3 Interim Report, July-September 2021 today November 29, releases its Q3 Interim Report.Summary of financial performance Net sales for the quarter totaled SEK 38 thousand (701). Sales for the quarter comprised revenue related to Dosell sales.Operating income for the quarter totaled SEK …

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