Company Announcement No. 23 
Aalborg, 23. September 2020 

Seluxit presents an annual report, demonstrating the ability to deliver on revenue and result - while creating an interesting pipeline of products for future growth.

Daniel Lux, CEO:

“Some of the results which our dedicated staff and great partners have created and which I would like to highlight are:

• 175.000 delivered radio modules for Smart Meters to the German market
• SLX Heartbeat, a new product to monitor heart starters was developed and first installations were made in collaboration with our partners 
• Rapid Prototyping Kit - launch of our standard development tools and a webshop where these can be bought directly
• A growth in revenue by 17% despite a challenging second half of the fiscal year

The goal for 2019/20 was to create business visibility in the market, grow our business and develop new valuable IoT solutions to the market. We have achieved these goals.”

Selected key figures for the period 1 July 2019 - 30 June 2020

In the first half of 2019/20 Seluxit had a strong start with a satisfying result for the first half year. The second half of 2019/20 has been challenging for many due to COVID-19, and Seluxit is no exception. First, we were faced by difficulties in sourcing components, due to interrupted supply chains. Then we were facing the challenge that it is not possible to install smart meters in Germany, due to local COVID-19 restrictions. 

Expectations to 2020/21

Seluxit expects 2020/21 to be a very exciting year despite the uncertainty surrounding the market due to COVID-19. We will continue to focus on creating new customer relationships, expanding the product portfolio, and formalizing new commercial partnerships. We will invest in a rollout of the product SLX Heartbeat as well as other standard IoT products that can be used in relation to several customers and different systems.

Subject to the uncertainty that follows from COVID-19 and the uncertainty about the scope and time factor for its consequences, the management of Seluxit expects revenue for the financial year 2020/21 to be between DKK 20-22 million. DKK, while EBITDA is expected to be between -4 and -5 mill. DKK. Seluxit has launched a number of IoT products and expects to be profitable in 2021/22.

Attached file: Seluxit Årsrapport, 2019/20. (Annual Report in Danish)

Financial Calendar

For further information, please contact CEO Daniel Lux.

You can subscribe to our investor newsletter on https://www.seluxit.com/investors and get company announcements directly in your mail box. You can also follow news from Seluxit on

• Homepage: https://www.seluxit.com/blog
• LinkedIn: https://www.linkedin.com/company/seluxit
• Facebook: https://www.facebook.com/seluxit

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.

Attachment

• Seluxit Årsrapport 2019-20