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Newlist (NEWL) investor relations material
Newlist Q2 2024 earnings summary
Complete event summary combining all related documents: earnings call transcript, report, and slide presentation.Executive summary
Completed divestment of all operating activities to HH Agriculture Investments B.V. on June 3, 2024, due to inability to secure long-term financing; company now operates as a cash shell seeking a reverse acquisition or structural transaction.
Name changed from Ekobot AB to Newlist AB following the divestment; only minimal operations retained to meet listing requirements.
All employees except the CEO transferred to the buyer; company now has very low operating costs and a net cash position.
Financial highlights
Net sales for Q2 2024 were 127 KSEK (185 KSEK Q2 2023); for H1 2024, 127 KSEK (260 KSEK H1 2023).
Net result for Q2 2024 was -2,514 KSEK (-10,964 KSEK Q2 2023); for H1 2024, -22,877 KSEK (-13,837 KSEK H1 2023), impacted by a non-cash impairment of -14,222 KSEK in Q1.
Cash and cash equivalents at period end: 323 KSEK (12,017 KSEK Q2 2023).
Equity at period end: -593 KSEK (25,481 KSEK Q2 2023); total assets: 6,258 KSEK (35,991 KSEK Q2 2023).
Earnings per share before dilution: -0.11 SEK for Q2 2024 (-0.72 SEK Q2 2023); -1.15 SEK for H1 2024 (-1.30 SEK H1 2023).
Outlook and guidance
Company intends to pursue a reverse acquisition or other structural transaction; ongoing discussions with several candidates but limited financial endurance for a prolonged process.
Net cash and low operating costs expected to be sufficient only for a short period; urgent need to secure a deal to ensure continued operations.
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