Realfiction Holding AB announces its Q1 Interim Report for January – March 2022
Realfiction Holding AB (“Realfiction” or the “Company”) announces that the Q1 Interim Report for January – March 2022 is now available. The full report is attached as a separate document and can also be downloaded from the Company’s website (www.realfiction.com). A printed copy can be ordered via [email protected]. Below is a brief summary of the Q1 Interim Report.
Important key figures:
• 91% increase in total revenue Q1, 2022 compared to Q1, 2021
• 139% increase in gross profit in Q1, 2022 compared to Q1, 2021
• 24.9% increase (12.9 points) in gross profit margin in Q1, 2022 compared to Q1, 2021
• Cash-based net operating cost savings of TSEK 337 (14%) in Q1, 2022 compared to Q1, 2021
• Solvency ratio of 86.8% at 31 March 2022 compared to 87.2% at 31 December 2021
During and after the period, Realfiction has experienced both positive and negative development in its business, including:
Project ECHO: Together with its development partners, Fraunhofer FEP and Interuniversity Microelectronics Centre (imec), Realfiction continued to develop the integration license package for its holographic 3D display technology ECHO during the first quarter of the year. The completion of the integration license package was then announced shortly after the end of the period. This achievement constitutes a major milestone for ECHO and Realfiction, and the Company is now comfortable with showing more of this technology to potential commercial partners in due diligence discussions. Furthermore, the Company formed a strategic alliance regarding the development, manufacturing and sales of specific LCD versions of ECHO with the large LCD display manufacturer and major Realfiction shareholder AmTRAN.
Sales activities: While the Company is not back at pre-COVID levels yet, the sales figures for Q1, 2022 are much higher than for the same period in 2021. In addition to hardware sales, the Company is now also seeing a quite strong rebound when it comes to rentals for events. As an example, two of the Company’s DeepFrame displays were recently used in a fantastic event for EVE during their stock listing at the New York Stock Exchange. There are also upcoming interesting events in Las Vegas, Munich, Beijing and other places.
CEO Clas Dyrholm comments: “During the first quarter, Realfiction continued to rapidly progress towards our goal to have the first ECHO display ready in H1, 2023. With the integration license package completed, and AmTRAN on board as our first commercial partner, we have already achieved two major milestones this year. It is also great to see that more of our global partners are resuming their event related activities, and we are happy to create unique experiences together with them. As the key figures for the period suggests, sales and rentals of our existing mixed reality solutions have strong potential to further improve our financial position in the coming quarters, and thus give us more flexibility when bringing ECHO to the market.
We highlight the following key figures from the Q1 Interim Report:
• Revenue: TSEK 3,238 (Q1, 2021: TSEK 1,691)
• Gross profit: TSEK 2,094 (Q1, 2021: TSEK 876)
• Gross profit margin: 64.7% (Q1, 2021: 51.8%)
• Result after financial items: TSEK -120 (Q1, 2021: TSEK -1,620)
• Earnings per share: SEK 0.02 (Q1, 2021: –0.06)
• Cash flow from operating activities: TSEK -931 (Q1, 2021: TSEK -2,824)
• Equity: TSEK 72,154 (Q1, 2021: TSEK 54,030)
