Quarterly Report: July – September 2019

The Quarter in Brief:


  • Revenue for the quarter to 30 September 2019 has increased to SEK 7.2m, a 7% increase compared with the prior quarter (Q4 18/19 SEK6.7m). There was an increase of 21% in revenues compared with the same quarter in 2018 (SEK5.9m).
  • EBITDA for the quarter to 30 September 2019 has increased to SEK -3.7m, a 54% increase compared with the prior quarter (Q4 18/19 SEK -8.12m). There was a decrease of 117% in EBITDA compared with the same quarter in 2018 (SEK -1.72m).
  • Zutec secured a €1m loan credit facility with Athanase Industrial Partners, a current shareholder, which we will present for the approval of all shareholders at our AGM in November.
  • Brendan O’ Riordan resigned as CEO of the Group, effective from 11 September 2019, to pursue other career opportunities.
  • Clíona Farrelly, the Group’s CFO, was appointed to serve as interim CEO effective from 11 September 2019.
  • Appointment of a Head of Sales to drive performance and improve accountability in our sales team.
  • Appointment of a Head of Product Delivery and Customer Satisfaction to ensure the quality of our product as its delivery to our customers is central to our growth and success.

The Quarterly Report is included in the PDF file below:

Quarterly Report July – September 2019

For additional Information please contact:

Clíona Farrelly, CEO of Zutec Holding AB

cliona.farrelly@zutec.com +353 1 201 3565

The company is listed on Nasdaq First North Growth Market and Mangold Fondkommission AB is the Company’s acting Certified Adviser (Tel. + 46 8 5030 1550, CA@mangold.sewww.mangold.se.)

This information is inside information that Zutec Holding AB (publ) is obliged make public pursuant to the EU Market Abuse Regulation and the Securities Markets Act (2007:528). The information was submitted for publication through the agency of the contact person set out above, November 5th, 2019.

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