Interim Statement: July – September 2018
Period July – September 2018
- The transformation into the new scaleable SaaS-based business model is progressing according to plan with several new SaaS customers already won in the quarter.
- Increase in contracted SaaS Sales of 24% to June 2021.
- Inbound approach beginning to show return.
- Reduced revenue due to end of large contract phase in Qatar.
- The group’s cash flow was negatively impacted by an increase in account receivables from the larger middle Eastern project, which is expected to rewind in due course in line with the market practice in the region.
- Confident in Qatar contract next phase extension.
- Excellent pipeline of large projects globally.
- Appointment of Chief Revenue Officer.
- New activity in Asia Pacific initiated.
- Zutec has signed a contract with Yuanda Europe, a facade construction company which uses world-class manufacturing techniques and quality control products across Europe.
- Zutec stands ready to accelerate the digital transformation of the construction industry with a combined focus on large projects and a highly scaleable pipeline of small and medium sized customers.
For additional Information please contact:
Brendan O’Riordan, CEO of Zutec Holding AB.
email@example.com +353 86 8568971
The company is listed on Nasdaq First North and Mangold Fondkommission AB is the Company’s acting Certified Adviser (Tel. + 46 8 5030 1550, www.mangold.se.)
The Interim report including statutory Financial Statements is on the attached pdf file.
This information is inside information that Zutec Holding AB (publ) is obliged make public pursuant to the EU Market Abuse Regulation. The information was submitted for publication through the agency of the contact person set out above, September 19th 2018.
About Zutec Holding AB
Zutec develops and markets cloud-based software solutions, primarily directed to companies within the building and construction industry. The Company’s products help clients to increase their productivity and cost efficiency. Zutec provides solutions within project management, data and document collaboration tools, data enriched 3D-models, defect management, project handover and the operations and maintenance of buildings.
To find out more please visit www.zutec.com