Resqunit AB - 2021 Fourth Quarter Report
RESQUNIT AB - 2021 FOURTH QUARTER REPORT
Resqunit AB today announced fourth quarter 2021 results.
"Project developments over the past months have further strengthened our belief in the tremendous growth potential. 2021 has largely been focused around R&D activities and prototype field testing with several partners around the world. During the fourth quarter, our main product line-up has been established and are being prepared for mass-production. We're confident that this will result in strong growth in the time to come," says Helge Trettø Olsen, CEO of Resqunit AB.
Net sales amounted to SEK 67 thousand for the year 2021, a decrease of SEK 416 thousand compared with 2020, when net sales amounted to SEK 483 thousand. The decrease in net sales was due to a non-R&D private environmental grant received in 2020. Operating profit amounted to SEK -11,607 thousand for the year 2021, a decrease of SEK 7,335 thousand compared with 2020, when the operating profit amounted to SEK -4,271 thousand.
Project update
Resqunit 's activities continued to advance over the past months. The company has started to build a very important distribution network, and expanding our collaborations and activities with fishery authorities and ideal organizations. This work goes hand in hand with our other digital marketing and awareness strategies which is a continuosly effort for entering new markets and establishing our brand in strategic important regions.
The launch of the Electronic Time Release (ETR) in December was met with broad international interest from potential commercial customers. Exploration into new parallell market opportunities for this product is ongoing.
"We're positioned as first movers in a market that's overdue on taking action against oceanic plastic pollution and ghost fishing. The marketing power of the worlds most famous fisherman, Sig Hansen from Discovery Channel's Deadliest Catch will prove very beneficial", says Helge Trettø Olsen.
The fourth quarter presentation is enclosed.
DISCLOSURE REGULATION
This release is an announcement issued pursuant to legal information obligations and is subject of the disclosure requirements pursuant to the Market Abuse Regulation (MAR) and was submitted for publication by Helge Trettø Olsen.
Certified Advisor
Mangold Fondkommission AB I 08-503 015 61 I [email protected]
For additional information, please contact:
Helge Trettø Olsen, CEO, Resqunit AB
Email: [email protected]
Phone: +47 901 68 908
The following documents can be retrieved from beQuoted
RESQUNIT-AB-Q4-2021.pdf
Resqunit is an ocean tech company developing innovative equipment to disarm and retrieve lost fishing gear. Through sensor data collection and software, the company aims to increase knowledge about the oceans and increase catch predictability. Every year between 500 000 and 1 000 000 metric tons of fishing gear is lost at sea. A significant amount of this consists of plastic, which over time dissolves into microplastic particles and enters the food chain. Lost gear harms both the fishing, animal stocks and the environment. Resqunit AB (publ) was founded in 2021 as a parent holding company (listco) holding 100% of the shares in the Norwegian subsidiary Resqunit AS, founded in 2017.