Company announcement no. 11/2018
Copenhagen, 21 August 2018


Conferize A/S releases interim report for the first half of 2018

The Board of Conferize A/S has today approved the interim report for the first half of 2018. The report is unaudited.

 

Summary

The development in Conferize A/S in the first half of 2018 follows the Company‘s strategy. The creation of a new version of the Company‘s digital platform for the event and conference industry progresses according to plan and will be launched later in 2018. The Company is experiencing massive and continued growth in users, organizers and events, even though there is currently only a functional prototype in the market.

Conferize A/S has realized a loss of DKK 3.2 million in the first half of 2018. The loss can be attributed to the Company‘s continued development activities. The Company is still in the phase of development and since the first basic prototype of the Event Management Software is offered for free to the market, in order to secure adoption and market feedback, revenue for the first 6 months has been low.

At the end of June 2018, the cash in the Company amounted to DKK 19.4 million. The Company still assess that it has sufficient working capital to realize its plans for development at this stage.

The Board and the Management of Conferize A/S consider the Company‘s operations and development to be satisfactory in the first half of 2018. CEO Martin Ferro-Thomsen comments:

“Everything goes according to plan. We are on the verge of completing development of the next generation of our platform, which is a massive undertaking. It will be launched this year, in 2018, and introduces a completely new take on event management, built on cutting edge technology and featuring a highly innovative user experience. We are experiencing an amazing growth in event organizers. In the first six months of the year we have realized a monthly growth of 11 percent on average! This means we now have 235 percent more event organizers on the platform than when we listed on Nasdaq First North just over a year ago. And, mind you, this growth is based solely on Conferize V1, our functional prototype.”

The company still estimate that a positive cash flow will be established over the coming 3-5 years. CFO Søren Dalsgaard Hansen comments:

“Basically, the value of our business must be calculated upon our ability to attract users and our ability to transform the reach of the platform into cash. We are already growing and with the introduction of ticket fees later this year, we will really be able to transform the growth into cash.”

 

Key financial figures 2018 H1 – with comparative figures

Income statement

   01.01.2018-   01.01.2017-     30.06.2018   30.06.2017     DKK   DKK        Revenue 7,360 4,182 Cost of sales (140,000) (153,589) Other external expenses (2,414,644) (1,334,811)  Gross profit/loss   (2,547,284)   (1,484,218)        Staff costs (1,497,316) (692,975) Depreciation, amortisation and impairment losses (28,354) (6,828)  Operating profit/loss   (4,072,954)   (2,184,021)        Other financial expenses (70,281) (185,635)  Profit/loss before tax   (4,143,235)   (2,369,656)        Tax on profit/loss for the period 903,152 485,522        Profit/loss for the period   (3,240,083)   (1,884,134)        

 

Balance sheet

   30.06.2018   31.12.2017     DKK   DKK        Intangible assets 21,468,762 15,427,164 Property, plant and equipment 204,802 109,157 Fixed asset investments 224,725 224,725  Fixed assets   21,898,289   15,761,046        Receivables 3,313,599 3,502,224 Cash 19,431,019 28,077,726  Current assets   22,744,618   31,579,950         Assets   44,642,907   47,340,996        Equity 37,727,212 40,967,295 Provisions 1,127,000 701,000 Liabilities other than provisions 5,788,695 5,672,701        Equity and liabilities   44,642,907   47,340,996        

Statement of changes in equity

   30.06.2018   31.12.2017     DKK   DKK        Equity beginning of period 40,967,295 2,577,063 Issue of share capital – 45,394,502 Bonus shares – 456,924 Equity related costs – (2,871,120) Other equity movements – (456,924) Transferred to reserves 0 0 Profit/loss for the period (3,240,083) (4.130.149)        Equity at the end of the period   37,727,212   40.967.295        

Cash flow statement

   01.01.2018-   01.01.2017-     30.06.2018   30.06.2017     DKK   DKK        Cash flows from ordinary operating activities (2,410,829) (2,573,957) Cash flows from operating activities (2,481,110) (2,759,592) Cash flows from investing activities (6,165,597) (2,664,422) Cash flows from financing activities – 38,248,438  Increase/decrease in cash and cash equivalents   (8,646,707)   32,824,424        Cash and cash equivalents beginning of period 28,077,726 1,172,370 Cash and cash equivalents end of period 19,431,019 33,996,794       

 

Sharerelated key figures

   30.06.2018   30.06.2017        Net asset value per share, DKK 2.95 3.38 Net earnings per share, DKK (0.32) (0.19) Total outstanding shares 12,777,215 12,777,215       

 

 The Company will release the Annual Report for 2018 on March 13, 2019.

 

About Conferize
Conferize is a groundbreaking digital event platform focusing on creating more meaningful meetings and communities. On the Conferize platform, event-goers, organizers and speakers get a shared digital space to network, share knowledge and create content – before, during and after the physical encounter.

The goal of Conferize is to achieve a leading position in the global event market through the constant attraction of ever more event-organizers – and thus participants and speakers. As a result of the growing user base, Conferize will eventually build a global network of users, events, communities and knowledge – a network that event participants around the globe can navigate and participate in to create more meaningful meetings between people.

Business Registration No 34472742
Invest.conferize

 

Certified Adviser
The Company’s Certified Adviser is BDO Statsautoriseret revisionsaktieselskab (Business registration No 20222670), Gert Mortensen, Havneholmen 29, DK-1561 København V, +45 39 15 52 00.

Investor relations
Søren Dalsgaard Hansen, CFO Conferize A/S, +45 31 21 17 26  //  ir

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