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Newlist
Newlist (NEWL) investor relations material
Newlist has been delisted
Newlist Q2 2024 earnings summary
Complete event summary combining all related documents: earnings call transcript, report, and slide presentation.Q2 2024 earnings summary30 Aug, 2024
Executive summary
Completed divestment of all operating activities to HH Agriculture Investments B.V. on June 3, 2024, due to inability to secure long-term financing; company now operates as a cash shell seeking a reverse acquisition or structural transaction.
Name changed from Ekobot AB to Newlist AB following the divestment; only minimal operations retained to meet listing requirements.
All employees except the CEO transferred to the buyer; company now has very low operating costs and a net cash position.
Financial highlights
Net sales for Q2 2024 were 127 KSEK (185 KSEK Q2 2023); for H1 2024, 127 KSEK (260 KSEK H1 2023).
Net result for Q2 2024 was -2,514 KSEK (-10,964 KSEK Q2 2023); for H1 2024, -22,877 KSEK (-13,837 KSEK H1 2023), impacted by a non-cash impairment of -14,222 KSEK in Q1.
Cash and cash equivalents at period end: 323 KSEK (12,017 KSEK Q2 2023).
Equity at period end: -593 KSEK (25,481 KSEK Q2 2023); total assets: 6,258 KSEK (35,991 KSEK Q2 2023).
Earnings per share before dilution: -0.11 SEK for Q2 2024 (-0.72 SEK Q2 2023); -1.15 SEK for H1 2024 (-1.30 SEK H1 2023).
Outlook and guidance
Company intends to pursue a reverse acquisition or other structural transaction; ongoing discussions with several candidates but limited financial endurance for a prolonged process.
Net cash and low operating costs expected to be sufficient only for a short period; urgent need to secure a deal to ensure continued operations.
Detail financial runway for continued operation
Explain HH Agriculture option warrant
Rationale for 9 MSEK business sale price?
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Amina0781App Store
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