Conferize A/S — Interim / Quarterly Report 2018

Aug 21, 2018

conferize

Company announcement no. 11/2018

Copenhagen, 21 August 2018

Conferize A/S releases interim report for the first half of 2018

The Board of Conferize A/S has today approved the interim report for the first half of 2018. The report is unaudited.

Summary

The development in Conferize A/S in the first half of 2018 follows the Company's strategy. The creation of a new version of the Company's digital platform for the event and conference industry progresses according to plan and will be launched later in 2018. The Company is experiencing massive and continued growth in users, organizers and events, even though there is currently only a functional prototype in the market.

Conferize A/S has realized a loss of DKK 3.2 million in the first half of 2018. The loss can be attributed to the Company's continued development activities. The Company is still in the phase of development and since the first basic prototype of the Event Management Software is offered for free to the market, in order to secure adoption and market feedback, revenue for the first 6 months has been low.

At the end of June 2018, the cash in the Company amounted to DKK 19.4 million. The Company still assess that it has sufficient working capital to realize its plans for development at this stage.

The Board and the Management of Conferize A/S consider the Company's operations and development to be satisfactory in the first half of 2018. CEO Martin Ferro-Thomsen comments:

"Everything goes according to plan. We are on the verge of completing development of the next generation of our platform, which is a massive undertaking. It will be launched this year, in 2018, and introduces a completely new take on event management, built on cutting edge technology and featuring a highly innovative user experience. We are experiencing an amazing growth in event organizers. In the first six months of the year we have realized a monthly growth of 11 percent on average! This means we now have 235 percent more event organizers on the platform than when we listed on Nasdaq First North just over a year ago. And, mind you, this growth is based solely on Conferize V1, our functional prototype."

The company still estimate that a positive cash flow will be established over the coming 3-5 years. CFO Søren Dalsgaard Hansen comments:

"Basically, the value of our business must be calculated upon our ability to attract users and our ability to transform the reach of the platform into cash. We are already growing and with the introduction of ticket fees later this year, we will really be able to transform the growth into cash."

Conferize A/S, cvr. no. 34472742, Sølvgade 38E, 1. 1307 Kbh. K

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conferize

Key financial figures 2018 H1 - with comparative figures

Income statement

	01.01.2018-30.06.2018 DKK	01.01.2017-30.06.2017 DKK
Revenue	7,360	4,182
Cost of sales	(140,000)	(153,589)
Other external expenses	(2,414,644)	(1,334,811)
Gross profit/loss	(2,547,284)	(1,484,218)
Staff costs	(1,497,316)	(692,975)
Depreciation, amortisation and impairment losses	(28,354)	(6,828)
Operating profit/loss	(4,072,954)	(2,184,021)
Other financial expenses	(70,281)	(185,635)
Profit/loss before tax	(4,143,235)	(2,369,656)
Tax on profit/loss for the period	903,152	485,522
Profit/loss for the period	(3,240,083)	(1,884,134)

Balance sheet

	30.06.2018 DKK	31.12.2017 DKK
Intangible assets	21,468,762	15,427,164
Property, plant and equipment	204,802	109,157
Fixed asset investments	224,725	224,725
Fixed assets	21,898,289	15,761,046
Receivables	3,313,599	3,502,224
Cash	19,431,019	28,077,726
Current assets	22,744,618	31,579,950
Assets	44,642,907	47,340,996
Equity	37,727,212	40,967,295
Provisions	1,127,000	701,000
Liabilities other than provisions	5,788,695	5,672,701
Equity and liabilities	44,642,907	47,340,996

Conferize A/S, cvr. no. 34472742, Sølvgade 38E, 1. 1307 Kbh. K

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conferize

Statement of changes in equity

	30.06.2018	31.12.2017
	DKK	DKK
Equity beginning of period	40,967,295	2,577,063
Issue of share capital	-	45,394,502
Bonus shares	-	456,924
Equity related costs	-	(2,871,120)
Other equity movements	-	(456,924)
Transferred to reserves	0	0
Profit/loss for the period	(3,240,083)	(4.130.149)
Equity at the end of the period	37,727,212	40.967.295

Cash flow statement

	01.01.2018-30.06.2018	01.01.2017-30.06.2017
	DKK	DKK
Cash flows from ordinary operating activities	(2,410,829)	(2,573,957)
Cash flows from operating activities	(2,481,110)	(2,759,592)
Cash flows from investing activities	(6,165,597)	(2,664,422)
Cash flows from financing activities	-	38,248,438
Increase/decrease in cash and cash equivalents	(8,646,707)	32,824,424
Cash and cash equivalents beginning of period	28,077,726	1,172,370
Cash and cash equivalents end of period	19,431,019	33,996,794

Sharerelated key figures

	30.06.2018	30.06.2017
Net asset value per share, DKK	2.95	3.38
Net earnings per share, DKK	(0.32)	(0.19)
Total outstanding shares	12,777,215	12,777,215

The Company will release the Annual Report for 2018 on March 13, 2019.

Conferize A/S, cvr. no. 34472742, Sølvgade 38E, 1. 1307 Kbh. K

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conferize

About Conferize

Conferize is a groundbreaking digital event platform focusing on creating more meaningful meetings and communities. On the Conferize platform, event-goers, organizers and speakers get a shared digital space to network, share knowledge and create content - before, during and after the physical encounter.

The goal of Conferize is to achieve a leading position in the global event market through the constant attraction of ever more event-organizers - and thus participants and speakers. As a result of the growing user base, Conferize will eventually build a global network of users, events, communities and knowledge - a network that event participants around the globe can navigate and participate in to create more meaningful meetings between people.

Business Registration No 34472742

Invest.conferize.com

Certified Adviser

The Company's Certified Adviser is BDO Statsautoriseret revisionsaktieselskab (Business Registration No 20222670), Gert Mortensen, Havneholmen 29, DK-1561 København V, +45 39 15 52 00.

Investor relations

Søren Dalsgaard Hansen, CFO Conferize A/S, +45 31 21 17 26 // ir@conferize.com

Conferize A/S, cvr. no. 34472742, Sølvgade 38E, 1. 1307 Kbh. K