Company Announcement No. 19
Aalborg, April 16th, 2020

Seluxit maintains the forecast for the financial year 2019/20. Due to the uncertainty caused by COVID 19 the financial guidance from the IPO for the following periods are suspended.

As a result of the global COVID-19 pandemic including significant government initiatives globally, markets and businesses are all affected in a varying degree.

Seluxit’s core business is delivering Internet of Things solutions, comprising both hardware, software and development. Seluxit has been able to work from home and therefore we expect to be able to meet the planned customers deliveries for the financial year 2019/20, without significant delays. Furthermore, Seluxit does not expect to make use of the Danish government COVID-19 Relief Packages for Companies.

Maintaining the forecast for 2019/20

Seluxit maintains the previously announced expectations for the 2019/20 financial year with a turnover of around DKK 20 million, and a profit before tax of between -7 and -6 million DKK. 

Financial guidance from the IPO for the following financial years are suspended

Looking further ahead it becomes more difficult to give solid financial prognosis. Many industries have suffered significantly financially, and our customers might choose to postpone or cancel transformation and digitalisation in order to focus on their core business.

On the other hand the benefits of having solid solutions, which can be monitored and operated remote is very clear in these quarantine times. Therefore, we might also see an increase in interest from customers to make their business more digital and less dependent on physical presence. Right now we experience that potential customers show high interest but are hesitating to make new orders. Furthermore, we experience only minor delays on hardware components from our sub suppliers.

At Seluxit we are used to fast changing technology and agile adaptation to new conditions. We focus on continuing operation of our business, while adapting to the new market situation and supporting current and new customers in using IoT as a way to be more robust and flexible.

When we have better visibility, we will try to provide an updated guidance for the next financial year.

Daniel Lux, CEO:
“The worldwide pandemic has a significant impact on the global economy and everybody’s way of working. We can see that the most digital companies are affected the least. IoT is an important building block for digitization. IoT can make processes more sustainable, more efficient and safer. With our growing number of standard of the shelf products, we are now in a good position to deliver relevant solutions quickly and at a competitive price.”

For further information, please contact CEO Daniel Lux.

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About Seluxit:
Seluxit is an Internet of Things (IoT) solution provider. We help product manufacturers connect their physical products to the Internet, and benefit from the value of data.  Seluxit’s vision is to be a major contributor to the story of the Internet of Things — how we humans can orchestrate connected products to improve our lives, while preserving our security and privacy.

NOTE: In case of any discrepancies between the English and the Danish version of the announcement, the Danish version prevails.