Interim full-year report 2022: Guidance met on all parameters and EBITDA break-even for the full year

Company Announcement no. 7-23
Copenhagen, February 24, 2023

This announcement is a summary and should be read in conjunction with Shape Robotics’ interim full-year report for 2022, published on February 24, 2023. The interim report will be available on the company’s website.

The audited annual report for 2022 is expected to be released on March 24, 2023.

Financial highlights

• The Company has realized a YTD revenue of MDKK 87.4 (17.8), corresponding to a revenue growth of 391%, and a revenue in Q4 2022 of MDKK 51 (12.5).
• Contribution Margin YTD amounts to MDKK 26.5 (6.3), and MDKK 15.6 (3.8) in Q4.
• Contribution Margin in % YTD amounts to 30% (35%)
• EBITDA YTD is MDKK +0.3 (-15.5), and MDKK +4.5 (-4.3) for Q4.
• Net result YTD is improved with MDKK 12.4 compared to same period last year
• Inventory level has increased more than MDKK 35.5 compared to FY 2021, but includes inventory from the acquisition of Video Technic Systems S.R.L in august 2022.
• Borrowings has increased approx. MDKK 24 compared to FY 2021

Guidance for 2022 vs. realized

Revenue
Guidance: MDKK 81-93
Realized: MDKK 87.4

EBITDA
Guidance: MDKK -2 to +2 full year, and MDKK +2 to +4 2^nd half of 2022
Realized: MDKK 0.3 full year, and MDKK 6.6 in 2^nd half of 2022

Outlook 2023

• The Company expects the full year revenue 2023 to be in the range of MDKK 130 to 140 with an EBITDA of MDKK +3 to +5 (bf. non-recurring costs).

Non-recurring costs are related to one-off costs related to the process of up-listing the company on Nasdaq Main Market Copenhagen.

In connection with this interim report, the annual report for 2022 and future reports, Shape Robotics A/S, Shape Robotics Romania S.R.L and Video Technic Systems S.R.L appear as a group.
The consolidated financial statements have been prepared as a summary of the company's and subsidiary's periodic accounts by adding uniform accounting records. The consolidation shall eliminate intra-group income and costs, shareholdings and internal balances between the consolidated companies.

Newly acquired companies are recognized in the consolidated financial statements from the time when control is obtained according to the "takeover method". Comparison figures have therefore not been corrected.

Sign up for the live presentation of the interim report on February 24, 11:00 here

Additional information and investor relations
André Fehrn, CEO Shape Robotics A/S
Tlf.  (+45) 2444 8556
Email: [email protected]
Rugmarken 18, 3520 Farum, Denmark
CVR-nr. 38322656
www.shaperobotics.com

Certified advisor contact
Grant Thornton
Jesper Skaarup Vestergaard
Tel: +45 31 79 90 00
e-mail: [email protected]