AcouSort: Year-end report 2020-01-01 – 2020-12-31

Regulatory

Twelve month (2020-01-01 – 2020-12-31)

  • Income amounted to TSEK 6 823 (3 041).
  • Result before tax TSEK -7 978 (-9 657).
  • Result per share* was SEK -0,70 (-0,96).
  • As of December 31, 2020, the equity/assets ratio** was 73% (74).

Fourth quarter (2020-10-01 – 2020-12-31)

  • Income amounted to TSEK 1 693 (758).
  • Result before tax TSEK -3 404 (-3 204).
  • Result per share* was SEK -0,30 (-0,32).

CEO Torsten Freltoft Comments

When we now sum up 2020, we can state that the past year has been turbulent in many ways. The Covid-19 pandemic has affected most people in one way or another. For AcouSort, this meant that we adjusted our operations to function optimally even under the new circumstances.

Installations and trainings have successfully been performed vir­tually, a development that we also believe will benefit AcouSort in the long run to achieve a more cost-effective market penetration in the future. Our adjustments enabled us to continue the business with almost undiminished strength. We have continued to work according to our previously established strategy and with great success. This is clearly visible in our figures, which show a substantial increase in sales compared to 2019.

Revenues in 2020 increased by 124 percent to TSEK 6 823 (3 041) and profit before tax improved to TSEK -7 978 (-9 657).

The increase in revenue is essentially due to the growing interest in our technology and our systems. We have realized a number of transactions in several markets, not least in Japan, South Korea and the United States to name a few. At the same time, we have contin­ued the internal development of our systems continue in undimin­ished strength.

It has also been gratifying that our strategy to focus more on the OEM business has delivered accordingly during the year. Interest from life science companies has increased and accounts for a growing share of sales, which bodes well for the future.

Our collaboration with Instrumentation Laboratory (IL) has contin­ued according to plan and we follow the integration of our plasma separation technology into one of their diagnostic instrument fam­ilies. The constructive dialogue with IL has also resulted in the com­missioning of yet another feasibility project. The new project aims to investigate whether AcouSort’s technology can be developed to generate plasma for additional IL product categories.

Another important event in 2020 was the change of trading venue to Nasdaq First North Growth Market. The first day of trading was December 14 and the reason for the change of trading venue is an overall assessment that it will give us better conditions for future value creation for our shareholders. This will be achieved through improved liquidity in shares, an increased interest in AcouSort from analysts, the public, both institutional and international investors as well as other stakeholders. We also believe that a global brand such as Nasdaq will be a quality stamp for potential customers, partners and suppliers and thus will help foster further valuable relationships.

One of the most important milestones of the year was that AcouSort received ISO 13485 certification of the company’s quality manage­ment system. The certification proves that AcouSort is now qualified as a supplier of OEM components for the medical device market.

In June, the Company secured MSEK 11.7 through a directed share issue. The proceeds secure operation through 2021 and also fund the final development of AcouPlasmaOptical as well as the assembly line investment.

When we look beyond 2020, we can state that the New Year has started satisfactory and we have been able to announce two new Collaborations. In addition, work with assembling the semi-au­tomatic manufacturing line for OEM components has continued according to plans. This means that we will be able to launch AcouPlasma Optical for the OEM market in Q3-2021. This is an impor­tant milestone and a first step towards producing larger component volumes in the future.

Based on the increasing interest from the OEM market and the steps made to meet that interest, my assessment is that we are facing a bright future and that we will initiate more successful OEM collabo­rations during the year.

Torsten Freltoft – CEO,

AcouSort AB