Company announcement no. 36
Vejle, August 27th 2020
Half-year report 2020
"The Board of Directors of Waturu Holding A/S has today approved the half-year report for the first half-year of 2020"
The half-year report has been audited by Beierholm Revision.
Highlights from the first half-year 2020:
1. The result is considered satisfactory, considering that the launch of products in the first half of 2020 was delayed. A lot of work has gone into trying to shorten the delay.
2. The balance sheet of the accounts now includes the valuation of Waturu Holdings' ownership of the subsidiary Watgen Medical A/S, which is recognized with 50,3 MDKK in equity.
3. Costs have been incurred for the purchase of sub-components and investments have been made in marketing activities for the launch of Waturu´s decentralized high-efficiency water heater.
4. Operating expenses and investments have been incurred for the subsidiary Aquaturu A/S, which is expected to be listed in Q4 2020 on the Nasdaq First North Growth Market with a pre-money valuation of 170 MDKK.
5. Development and testing costs have been incurred for OEM products within HVAC, wastewater as well as the medico industry.
Short and long term expectations
Despite the current situation where the markets are still affected by Covid-19, the board of directors of Waturu Holding A/S is satisfied with the development and future business opportunities.
The Board of Directors maintain the announced long - term expectations, which have been updated in company announcement no. 28, which raises the overall revenue targets for Waturu Holding A/S from an expected revenue level of more than MDKK 100 in the year 2023 to a new expected revenue level of MDKK 140 to 150 in the year 2023.
Statements from the Chairman and the CEO
Chairman of the Board, Thomas Marschall, states:
“The technology in Waturu Holding A/S can be used in a number of areas, which is why the company has established a number of subsidiaries within, among others, Medico and Aquacultur.
The subsidiary Aquaturu A/S is now facing a capitalization and commercialization to ensure that the company can help make the production of land-based fish farming even more sustainable.
Aquaturu A/S is planned to be listed on the stock exchange in Q4 2020 and it will be exciting to follow the international interest in the company's products.
As chairman, I would like to thank the employees of the Waturu Group for their great efforts in first half of 2020.
The company will launch deliveries of its own products as well as OEM products in Q3 2020 and as Chairman of the Board, it is my hope that the Danish politicians will use the "green transition" to pull Denmark out of the crisis.
We are facing a time of great challenges for the economy and thus jobs could be lost and savings in the public sector could be necessary.
At Waturu Holding, we can support the "green transition" with our water and energy-saving products, create new jobs and help secure the necessary CO2 reduction. Denmark is in a unique position where we can prove that new technology can reduce CO2 and with a 70% reduction target, which has been adopted by law and which must be met by 2030, it requires a bet on new technology.
Let us together prove that energy optimization of properties, can contribute to the world looking towards Denmark and our technologies. The "green transition" can pull Denmark out of the crisis which will be good for the creation of new jobs, good for the environment and good for Waturu Holding A/S”.
CEO, Toke Reedtz states:
“The first half of the year has been full of value-creating activities. The second half of the year will focus on production and sales, and to ensure that Aquaturu A/S and Watgen Medical A/S are listed on the stock exchange. In this regard, I would like to thank new as well as existing investors for the huge support the company encounters. Personally, I have high expectations for the technology in both Aquaturu A/S and Watgen Medical A/S and that the technology can make a significant difference.
Waturu Holding A/S has business potential in a number of industries and work is underway continuously on the development and testing of technology that can be expected to be commercialized in new subsidiaries. In our annual report, we described, among other things, an opportunity to develop the technology to be able to purify drinking water. A business area without attention in Denmark but with great focus abroad.
There will also be a focus on a product that can secure our buildings against Legionella. The market for such a solution is international and opportunities have already been explored on starting a United States based company with just that focus.
In the first half of the year, we also entered a collaboration within wastewater treatment, a sector that is struggling with increased rainfall and demands for less discharge of untreated sewage water into our enviroment."
The half-year report can be downloaded from the company's Investor website.
About Waturu Holding A/S
Waturu Holding A/S is a Vejle based Greentech company that develops innovative water technology for heating or treatment of water, with the focus on ensuring bacteria-free water and reducing water and energy consumption for heating domestic hot water in properties and thus ensuring CO2 savings.
Waturu Holding A/S is the main shareholder in the medico company Watgen Medical A/S and in the technology company Aquaturu A/S.
More information:
CEO Toke Reedtz, tel .: +45 5188 1262,
e-mail: toke@waturu.com
CFO Michael Nørgaard, tel .: +45 2720 6214,
e-mail: mn@waturu.com
Waturu Holding A/S
Sjællandsgade 32
7100 Vejle
Certified Adviser:
Tofte & amp; Company ApS
Christian IX Gade 7, 3 rd,
1111 Copenhagen
Contact person: Sasja Dalgaard, e-mail: sd@toftecompany.com
Website: toftecompany.com
Tel: +45 71961030
Nasdaq First North Growth Market
Important links:
Website:
www.waturu.com
www.aquaturu.com
www.watgenmedical.com
Financial reports:
www.waturu.dk/documents
Continuous updates from the company:
www.linkedin.com/company/waturu/
www.facebook.com/WaturuDenmark/
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