Annual Report Seluxit –2018/2019 - Company Announcement nr. 11 2019/2020

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MUST NOT BE PUBLISHED, DISTRIBUTED OR SHARED, DIRECTLY OR INDIRECTLY, IN OR TO THE USA, AUSTRALIA, CANADA, OR JAPAN. Annual Report Seluxit –2018/2019 Company Announcement No.11-2019/2020 Aalborg, 25. September 2019 Seluxit presents an annual ...


Annual Report Seluxit –2018/2019

Company Announcement No. 11-2019/2020 
Aalborg, 25. September 2019 

Seluxit presents an annual report showing a significant revenue growth compared to 2017/18, and a year which was strongly influenced by listing on the Nasdaq First North Growth Market in November 2018.

  • Revenue of DKK 18 million
  • Profit after tax of DKK -4.3 million
  • Cost of IPO of DKK 3.7 million
  • Gross proceeds from stock exchange listing of DKK 26 million

CEO Daniel Lux:

“2018/19 has been one of the most exciting years in Seluxit's history. We are very pleased with both the financial and operational results. Some of the results we have created with our dedicated staff and great partners are:

  • Stock exchange listing of Seluxit with 41% oversubscription
  • Revenue growth of more than 120% compared to 2017/18,
  • Appointment of sales director and establishment of a sales organization
  • Development of new standard components

The goal for 2018/19 was to create business visibility in the market and raise capital for the continued development of the technological IoT platform and to grow the business. We wanted more focused marketing and the establishment of a sales organization, as well as introducing our solutions to a wider customer base. These ambitious goals have been realised.”

Financial overview

DKK thousand2018/19



Gross Profit3.1976.1536.404
Profit after tax-4.3421.0591.358
Shareholders’ Equity24.7794.3184.059
Balance Sheet30.9688.0648.107

Net sales and gross profit were significantly affected by the increase in sales of radio modules to the Smart Meter segment.

Events after the reporting period

After the balance sheet date, no events of material importance to the company's financial position have occurred, other than that already disclosed in Company Announcement No. 10, published on August 6, 2019.

Seluxit maintains expectations to 2019/20

Seluxit expects 2019/20 to be another very exciting year, with focus on creating new customer relationships and expanding the product portfolio. At present, good activity is seen with both existing customers and potential new customers, and it is therefore expected that this will be reflected in sales and earnings.

The IoT market is growing rapidly and is experiencing high growth rates. Seluxit works dedicated on being able to offer the right products and solutions that will allow Seluxit to get a good share of this growth.

For the financial year 2019/20, Seluxit maintains the expectations from the Business Description at the IPO of a turnover rounding the DKK 20 million and a profit before tax of between -7 and -6 million DKK. The result will be significant influenced by investment in the sales organization as well as establishing customer relationships, which use the Seluxit IoT platform, from which Seluxit can receive ongoing revenue from licensing and data subscription.

Thanks for your trust, input and cooperation

Our employees have been amazing with their commitment, creativity and determination to succeed. It is a pleasure to work with such competent and dedicated people.

In addition, we also highly appreciate the commitment and confidence our shareholders, partners and customers have shown to Seluxit. We find that shareholders contact us about possible projects, ideas and partners. It is something we greatly appreciate and that contributes to the development of our company.

We have taken the first step in our ambitious growth plan and delivered better results than budgeted, and we look forward to working dedicated to setting even higher ambitions and creating good results.

Attached file: Seluxit Årsrapport, 2018/19. (Annual Report in Danish)

Financial Calendar

25. September 2019Annual Report 2018/19
22. October 2019General Assembly 2019
6. February 2020Half year report H1 2019/20
23. September 2020Annual Report 2019/20
22. October 2020General Assembly 2020

For further information: CEO Daniel Lux 

Seluxit A/S
Hjulmagervej 32B
9000 Aalborg
Tel. +45 46 922 722
CVR/VAT nr. 29388237
Certified Adviser:
Norden CEF ApS, V/ John Norden
Kongevejen 365,
2840 Holte
Tel: +45 20 720 200
CVR/VAT nr. 31933048

About Seluxit:
Seluxit is an Internet of Things (IoT) solution provider. We help product manufacturers connect their physical products to the Internet, and benefit from the value of data. Seluxit’s vision is to be a major contributor to the story of the Internet of Things — how we humans can orchestrate connected products to improve our lives, while preserving our security and privacy.


Source(s) : Seluxit A/S

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