Interim report Q1, 2021
- Net sales amounted to MSEK 7.5 (1.1)
- EBITDA* amounted to MSEK -2.7 (-2.7)
- EBIT amounted to MSEK -22.7 (-4.7)
- EBT amounted to MSEK -27.4 (-6.2)
- Earnings per share before dilutions amounted to -0.12 (-0.03)
- SpectrumOne centralizes top management to Sweden with new COO and CSO
- SpectrumOne has closed acquisition of Eniro preference shares
- SpectrumOne changes Certified Adviser
- SpectrumOne acquires the Finnish SaaS company MyInfomonitor to merge with Qbim
- SpectrumOne is provided with 59,2 MSEK in new equity from TO 3 warrants
- SpectrumOne publishes Annual Report 2020
- SpectrumOne resolves on a 93 percent guaranteed Rights Issue of SEK 169 million
- SpectrumOne publishes prospectus relating to the Rights Issue of Units
Significant events after the reporting period
- SpectrumOne announces outcome of Rights Issue; 93 % subscription rate and SpectrumOne will receive proceeds amounting to approximately SEK 157 million before costs
- SpectrumOne acquires Ampilio AB to merge with SpectrumOne’s subsidiaries The Trigger Company and BizWell Sweden AB
- SpectrumOne increases its holding in Eniro to 29.5%
*including share of earnings from our associated company EniroGroup AB in depriciations and amortizations
The beginning of THE year
It has certainly been exciting starting off the year of 2021, the year of groundbreaking possibilities for SpectrumOne. Three months have passed, nine to go. A great deal of our time during the first quarter has been spent on issues such as acquisition dialogue and negotiations, share issues and the Eniro deal. This has resulted in a deliberate decrease on our focus on the operation. Despite this and more importantly, we have maintained a growth of Cloud Explorers and Prism, our core and future.Last year we took the opportunity to execute on our communicated goal of connecting relevant companies to us through acquisitions to expand and sharpen our core business. We were able to reach several goals including substantially increasing users in Prism, enhance the user experience in the platform and make adaptation to several industries we have seen as relevant for our growth. This year we have acquired additional companies to the group and the time has come to define and refine SpectrumOne to meet the expectations from the market and deliver what our clients need. One of the first actions we took this year was centralizing the top management to Sweden with people having experience in communication, marketing and high-level strategy. This has made sure to make sure the growth we pursue is long-term and sustainable. In addition, we are recruiting a Nordic Sales Manager for PRISM and have signed a new CEO for Qbim.
DEFINE AND REFINE
Ever since we started the growth journey and added acquisition strategy to our plan, we have aimed at becoming the best Martech company in Europe. We saw a unique possibility for the SpectrumOne to position itself in Europe as the leading and most forward-leaning company within the industry, and ever since, we have pursued to take that position. Having said that, we are now in a position where we are crystallizing the exact markets where we can gain most of our growth. Already identified as such are Information business, Insurance, Bank and Media Agencies among others. In order to have a more united focus we have decided to merge the companies of Ampilio, Trigger Company and BizWell. Having Cloud Explorers on the side will make sure Cloud Explorers will be the digitized injection to the new company and have a sales channel from yet another platform. The new company will have a stronger foundation than many of our competitors. I am convinced it will facilitate for us to take on larger clients and already now we are experiencing the synergies we anticipated when deciding upon the acquisition. Also, Qbim is to be merged with Cemron to develop into a full-fledged SaaS-company.The coming months this defining and refining will be even more focused on and we expect many exciting news for the good of the company and thus our shareholders.
BEST MARTECH COMPANY IN EUROPE - OUR WAY FORWARD
The defining journey has started at SpectrumOne. We are now consolidating the group in different verticals whereas Cloud Explorers will be the digital injection within each and every vertical.
Ampilio is building the foundation of marketing, Qbim a leading force within AI and analytics and Cloud Explorers with its´ Prism following a well written path in the information industry. Few are privileged to have this strength going forward on a journey taking on the Nordics and Europe with the aim at becoming the best Martech Company on the continent.
ADDITIONAL ACQUISITIONS AND SHAREHOLDERS VALUE
Two great acquisitions have been made. Finnish SaaS company Cemron was acquired to be merged with Qbim and the company has hired a new CEO to lead the company into a public environment where the intention is to have it listed and publicly traded during the first half next year. I believe this could be of substantial value to our shareholders once the shares are distributed. Ampilio has been acquired to merge with Trigger Company and BizWell forming a stable foundation from which extensive growth will be pursued. The first goal of new Ampilio will be quadrupling annual revenue by 2023, this requires an annual growth rate exceeding 100%, certainly an ambitious goal but with good chances of us reaching it. Many interesting things lays ahead, and our first action will be reopening our office in Spain which I hope I will be able to talk more about soon.
Furthermore, we have set the ground for the growth of Prism in the Nordics by hiring a new Sales Director that will make sure the roll out of Prism in the Nordics increases significantly and reaches many more potential partners and clients. The goal of this role is to have a new sales organisation in place where the Director of Sales will be managing, leading, and developing our operation in the Nordics to start with and later grow in Europe together with our partners.
Cloud Explorers has during the last five months experienced strong growth in both clients and incomes through their partners in Norway with all of them delivering new clients and incomes. This has provided strong evidence and confirmation that our partner sales strategy is working and producing the expected results, allowing us to focus on both product development and partner support program rather than pursuing costly direct sales.
Progress with Bisnode in Norway has been especially successful providing a stream of good clients across a range of industries with strong income growth. All clients have been identified, approached and offers made and accepted without the need for any resources or personal from Cloud Explorers. This has allowed us to focus on providing sales training and the addition of self-service functionality to allow for end-to-end sales activity and client onboarding. The platform manages pricing models and provides billing details reported to sales and accounting with Bisnode, clearing the way for smooth growth.
With Clients from branches such as insurance with Watercircles, energy with Ishavskraft, automotive with Porsche, Telemarketing with Mogi and foundations with LHL, we clearly see that PRISM meets the needs of a diverse set of requirements and organizations, with varying sizes, complexity and structures.
Initial focus with Bisnode has been new client acquisition and has met with a very high success rate, in all cases PRISM has been well received and immediately looked upon as a must have tool. Commercial experience has also shown that PRISM can be easily packaged as both an Enterprise product for large, sophisticated clients along with an SMB offering with features and pricing that closely match more SMB standard clients’ requirements. PRISM has also now been identified as a solution to support operational client delivery for internal use. Addressing the needs of a more mass-market mode for a high number of smaller clients with more ad-hoc needs both sales support and self-service.
Future with partnership
As we move out of the initial period now with Bisnode focused purely on new client sales and establishing a strong smooth working relationship, we start to look at a large number of existing customers having requirements that PRISM can deliver huge value quickly.
Q4 2020/ Q1 2021 has been focused on the establishment of a strong co-operation and working relationship involving adaption of price models, sales training and successful sales and delivery together with Bisnode. We now move into the next period onwards, expanding our co-operation and growing our joint client base and sales incomes.
Bisnode is a very professional and well-structured organisation, and it has been very rewarding to work together with them and their team who are of a very high caliber. We also gain experience seeing how larger very experienced organizations conduct and deliver sales activities towards clients.
We are really looking forward now to the next phase of our partnership and what has already been a very rewarding and profitable experience and interaction for both parties.
One true significant decision last year was us acquiring almost a third of Eniro, a transaction we ultimately closed January 11. I believe I said we are doing the deal of the decade by doing that transaction. Eniro is becoming an even more interesting asset for us since the first acquired shares, which is why we recently increased our holdings with more than ten million shares. We believe Eniro has an interesting approach to the market reaching “the involuntary marketer” targeting mostly small and medium sized clients in the Nordic market whereas SpectrumOne with the product portfolio we are holding, including Prism, has the possibility of attracting larger corporations and enterprises. We believe the synergies between the two are great and the gains of implementing these are efficient and business wise very reasonable. I am convinced the outcome of this business relationship will highly benefit the shareholders of both the companies.
Trafikportalen has previously been communicated to be a spin-off from Qbim. There has been a negotiation going on for a quite some time now. The last weeks it has been clarified for us how this spin-off could be made possible for the gains of our shareholdings. We are in a negotiation where a merge with an additional company could be the best solution of creating shareholders value. The forecasted value to our shareholders withstands as previously communicated.
After the rights issue of units finalized in April this year, SpectrumOne now has an equity close to SEK 350 million. Increasing our equity to this level has of course been costly due to several warrants, share issues and all the services needed to carry through these. Acquisition of Eniro and other has cost us in terms of financial advisors, legal advisors, stockbrokers and all the information concerning the same such as prospectus and other administrative information. These expenses we can now put behind us to once again solely focus on the operational business.
The increasing of our equity has made it possible for us to truly execute on the structural and industrial deals that are made visible ahead of us. This has been made in a time far shorter than we had expected and makes it possible for us to increase our shareholders value additionally in a short period of time if the intended transactions would become true. This is just one of the opportunities we have made possible by doing the right analyses and act with great confidence.
The chairman and I have increased our holdings substantially in the company by fully participating in every share issue in the company. I have personally invested almost 10 million SEK in the company the last six months, mostly borrowed money. Let it be a strong signal of how much we believe in the future of this company and how willing we are to invest in it. Someone asked me a while ago what my feelings are about the company, I replied I seldom work with feelings. I have made a calculation, and the equation looks pretty good to me.
STOCKHOLM, MAY 2021
This report is to be found on our webpage (https://spectrumone.com/investor/reports-and-presentations/)
For further information contact:
+46 70 225 18 77
Aktieinvest FK AB (556072-2596)
Box 7415 103 91 Stockholm
Telefon: +46 8 506 517 03
SpectrumOne AB (publ) is obligated to publish this information under the EU Market Abuse Regulation. The information was provided by the above contact person's auspices, for publication on May 18, 2021 at 08.40 a.m. CET.
About SpectrumOne AB
SpectrumOne is a leading technology company delivering an advanced Data Management, Analytics & Communications platform suite. Offered in a SaaS online service shipping with rich market data from various professional providers, SpectrumOne provides a unique solution to many leading actors across industry segments in various countries. Enabling clients with fast and easy access to data insight and visualization coupled with powerful search, segmentation, and mapping features. SpectrumOne allows data to be quickly enabled and operationalized, driving activities from customer communication to data science supporting business analysis, strategy, and growth. All of which can be enabled the same day with immediate results. SpectrumOne´s headquarter is based in Stockholm, Sweden, responsible for Nordic sales and strategy, with additional sales and business development located in Oslo, Norway. SpectrumOne is listed on Nasdaq First North Growth Market in Stockholm. www.spectrumone.com
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