Due to the increasing of infectious rates over the past few weeks, it has been agreed that Qlife will be handling all testing for COVID-19 for professional handball in Denmark.
QLIFE HOLDING AB INTERIM REPORT Q2, 2020
FINANCIAL SUMMARY – SECOND QUARTER 2020
· Revenue in the period amounted to kSEK 6,181 (0) and is mainly related to sales to KMD regarding the agreement with Danish Football League to test players and staff for COVID-19.
· EBITDA for the period amounted to kSEK -2,146 (-2,563), and net loss kSEK -1,138 (-2,628).
· The total cash flow in the second quarter amounted to kSEK -5,774 (253).
· Earnings per share before/after dilution for the second quarter amounted to SEK -0,10 (-42,52), calculated on weighted average number of shares in the period.
· In May, Qlife applied for a tax credit of MDKK 2.8 under the Danish Tax credit scheme. The amount was paid out in cash in June 2020.
FINANCIAL SUMMARY – JANUARY -JUNE 2020
· Revenue in the period amounted to kSEK 6,566 (0) mainly related to sales to KMD regarding the agreement with Danish Football League to test players and staff for COVID-19 and payment regarding the continued development collaboration with a Danish hospital.
· EBITDA for the period amounted to kSEK -7,878 (-4,438) and net loss kSEK -9,841 (-4,520).
· Qlife issued 4,472,600 units (4,472,600 shares and 4,472,600 warrants series TO1) through a new share issue in February 2020. Equity capital increased with kSEK 48,950 after issuance costs of kSEK 6,063, and net cash flow from IPO amounted to kSEK 44,450 after netting of loans of kSEK 4,500.
· The total cash flow for the six months period amounted to kSEK 27,980 (-1,366).
· Earnings per share before/after dilution for the six months period amounted to SEK -0,99 (-75,37), calculated on weighted average number of shares in the period.
· Equity as of 30 June 2020 amounted to kSEK 101,775 (2,540).
SIGNIFICANT EVENTS – SECOND QUARTER 2020
· Henrik Ljung was hired as CFO in Qlife Holding AB.
· In coorporation with KMD, Qlife delivered testcapacity to Badminton Denmark to COVID-19 test all players in the final games of the Danish badminton tournament for clubs, RSL Final 4.
· KMD and Geelmuyden initiated a partnership with Qlife to provide smart and efficient Covid-19 test solutions for the professional sports, culture, and entertainment industry. The test capacity will be delivered by Qlife.
· Qlife Holding AB held its Annual General Meeting 20 May 2020. The General Meeting decided to re-elect Board members Metter Gross, John Moll, Niklas Marschall and Thomas Warthoe. Mette Gross was re-elected as Chair of the Board. The Meeting resolved to elect the audit firm BDO Malmö as the company’s auditor, with authorized public accountants Olof Andersson and Jörgen Lövgren as responsible auditors.
· Qlife entered an agreement with Nordsjællands Hospital to start validation of COVID-19 test. The validation of the Egoo test happens real-time at the testing facility in an emergency setting and data is compared continuously.
· Qlife and KMD entered a sales agreement with The Danish Football League (Divisionsforeningen) to test players and staff in the professional leagues (3F Superliga and Nordicbet) for COVID-19. Qlife delivers the test capacity and KMD have delivered the data infrastructure to secure testing of all players and staff prior to game start on 29th May and continued testing once a week during the remaining game weeks.
· It is the company’s assessment, that effects of the COVID-19 pandemic will have limited impact on product development and regulatory approval processes, and no impact on manufacturing processes.
SIGNIFICANT EVENTS AFTER END OF SECOND QUARTER 2020
In cooperation with KMD, Qlife has extended the contract with Divisionsforeningen. The extended contract is the continuation of COVID-19 testing of players and personnel in the two best football leagues, 3F Superligaen and NordicBet Ligaen, in Denmark. The contract extension is based upon the successful COVID-19 testing that Qlife delivered over the summer.
In cooperation with Geelmuyden Kiese and KMD, several international COVID-19 contracts have been closed within professional cycling. Testing will be delivered as from August.
”During the second quarter, we have worked very intensively with validation and deliveries of our COVID-19 test, and I am very pleased that we have been able to deliver high quality tests to our customers in a very short time. The deliveries have given us record sales, satisfied customers, a lot of data to use in our regulatory process, and many new customer contacts in the world of sports, both nationally and internationally, and not least a strengthened collaboration with KMD” , says Thomas Warthoe, CEO Qlife Holding AB
Link to report: https://qlifeholding.com/sv/investerare/finansiella-rapporter
This information is insider information that Qlife Holding AB (publ) is obliged to make public pursuant to the EU Market Abuse Regulation. The information was submitted for publication, through the agency of the contact person set out above, at 09.45 CET on August 18, 2020.
FINANCIAL SUMMARY – SECOND QUARTER 2020
In cooperation with KMD, Qlife has extended the contract with Divisionsforeningen.
Qlife's focus on professional sports is centered around COVID-19 testing, which the company offers in collaboration with IT partner KMD.
Jakob has extensive experience from international sales and business development within MedTech and healthcare and brings an excellent record of results and achievements in complex and competitive
In April we closed a contract with the professional Danish football league for regular testing of all players and staff for COVID-19 and delivery of test results were initiated already in week 22.
"Henrik Ljung brings broad experience to Qlife from financial reporting, IR, business control, finance management and corporate governance, all with a focus on fast-growing companies in the ea
KMD and Qlife has entered an agreement with Badmint
Geelmuyden Kiese and KMD announced earlier today that they have entered a partnership to provide smart and efficient Covid-19 test solutions for the professional sports, culture, and entertainment