Preliminary financial result for 2021 and downward revision of financial outlook for 2022
Inside information
As in the first three quarters of the year, instability in supply chains, travel restrictions, and temporary project reprioritisations continued to subdue the company’s financial performance during Q4 of 2021.
The adverse business climate of 2021 is reflected in the company’s full-year revenue, which is preliminary estimated at approximately DKK 6 million.
Recognizing both the broad applicability, strength, and uniqueness of LED iBond’s technology platform and the current market challenges, the newly reconstituted board of directors and the executive management today completed a strategic review of the company’s technology edge, product-market fit and market focus and approach.
The strategic review concludes that the company should sharpen its managerial and commercial focus on the established business activities within the smart building segment and the very promising business opportunities within vertical farming.
Based on this conclusion, LED iBond is revising its financial outlook as follows:
- Revenue of DKK 10-30 million for 2022
(reduced from DKK 70 million) - Positive cash flow from operations in 2023
(a one-year delay relative to the previous outlook), - Long-term EBITDA-margin above 30 % (unchanged)
LED iBond’s annual report, including a more detailed presentation of the conclusions of the strategic review is published on 21 March 2022.
