Terranet AB – Year end report 2023

Significant events during the fourth quarter

• The company was awarded a grant from Skyltfonden (an initiative of the Swedish Transport Administration) for the development of new testing methods in collaboration with AstaZero (RISE).
• Dan Wahrenberg took over as the new CFO.
• The company and Nihat Kücük reached an agreement on the termination of Nihat’s employment as CTO.
• Pierre Ekwall took over as the new CTO.
• The subscription of warrants in series T06 was carried out, with a subscription rate of 63% (the company raised approximately MSEK 6.3).
  
  

Significant events after the close of the period

• The company’s board decided to crry out a directed issue of units amounting to MSEK 10 before issue costs and an issue of TO8 to the Company for transfer free of charge to the Company's shareholders.
• The company held an extraordinary general meeting on January 31 where it was resolved to elect Mats Fägerhag as a new ordinary board member and further resolved on a directed issue of units to Maida Vale Capital AB of SEK 2.25 million.
• CEO Magnus Andersson and CTO Pierre Ekwall participated in CES in Las Vegas.
  
  

Q4, 1 October – 31 December 2023

• Revenue amounted to TSEK 205 (310).
• Operating profit/loss amounted to TSEK -9,219 (-7,431).
• Diluted and undiluted earnings per share amounted to SEK -0.02 (-0.03).
  
  

Full year, 1 January–31 December 2023

• Revenue amounted to TSEK 834 (748).
• Operating profit/loss amounted to TSEK -35,926 (-29,371).
• Diluted and undiluted earnings per share amounted to SEK -0.08 (-0.10).
• Cash and cash equivalents for the Group amounted to TSEK 29,006 (26,715) at the close of the period.
• The Board proposes that no dividend be paid for the 2023 financial year.
  
  

 Comments from the CEO

Today's safety solutions in the automotive industry do not work well enough, and what we at Terranet offer will help save more lives and enable new mobility innovations for a safer and more efficient traffic environment.

We have seen an exciting close to an eventful 2023, with a fourth quarter marked by a number of significant steps forward. After years of hard work, BlincVision, our anti-collision project, is beginning to show its full potential as a comprehensive solution. We are seeing increased interest from potential customers and partners and can confidently state that the sector is looking for a product with the kind of speed and precision that BlincVision can offer.