Aino Health publishes Year-end Report 1 October – 31 December 2017
Aino Health AB (publ) has published its Year-end Report for the period, 1 October – 31 December 2017 today. It is available on the Aino Health website, see also attached pdf-document. Year-end Report 1 October – 31 December 2017.
– Business Health index was launched in Finland, and the service was sold to a total of seven customers.
– The Company implemented the General Data Protection Regulation (GDPR), EU data protection regulations, for the entire organisation and the technology platform used by our customers.
– The Health Manager platform was moved to Amazon’s cloud-based system, Amazon Web Services, to offer existing customers faster and more secure services going forward. Work began in developing a new serverless platform that will provide all digital services within Health Management in a faster, more secure way and with higher scalability than before.
January – December 2017
– Turnover: TSEK 19,252
– Earnings after financial items: TSEK -31,786
– Cash flow: TSEK -29,671
– Earnings per share: SEK -5.9
October – Deember 2017
– Turnover: TSEK 5,747
– Earnings after financial items: TSEK -8,658
– Cash flow: TSEK -6,757
– Earnings per share: SEK -1,6
Significant events after the end of the period
– Aino Health Germany GmbH entered into its first agreement in the German market with steel and mining company ArcelorMittal.
– A first pilot project with the Business Health index was initiated on the Swedish market, with Region Västmanland as the customer.
Word from the CEO
In the fourth quarter, we focused on creating new business opportunities at the same time as we carried out further development efforts for our digital tools within Health Management in order to pick up the pace and increase scalability.
The Business Health index tool, BHi, launched at the end of the third quarter, is a good example of our development work. BHi is an excellent introductory service to new customers, which in a straightforward manner helps customers clarify their needs and possibilities, puts numbers to the values they can achieve and shows how Aino Health’s activities enable improvements.
We have seen good development of our new digital tool since the launch, and, so far, we have sold the service to seven Finnish companies. We have received a positive response from several potential customers, and preparations are being made for launch in Sweden and Germany. Through BHi, we have collected comprehensive data that will help us create a strategic roadmap for our potential customers. The analysis tool shows in a clear manner, with high integrity, how companies can improve their work within Health Management, as well as the major impact it has on their organisation and its productivity.
During the period, we started the process of transitioning our digital tool Aino Health Manager from its own server to Amazon’s cloud-based platform, which was completed in January 2018. Amazon Web Services will provide us with benefits such as increased speed, scalability and information security for our customers.
During the period, Johan Strömberg was employed to drive the Group’s overall business development and development of our consulting services. Johan will also be part of the management team. This is a new and central role within the Company that we need for developing how to support our customers better and faster as well as for improving the scalability of our operations. This entails further development of our offering and purchasing process, with the objective of greatly increasing the number of user licences.
Despite our extensive development work, the fourth quarter was a disappointment in terms of our planned establishment plan. We are behind schedule because the expected new business transactions in Sweden and Germany were not completed during the quarter. We are exploring opportunities for renewed financing in order to support our growth. However, we have seen positive results after the end of the period, indicating that we are doing things right. In February 2018, we signed the first contracts in our new markets, with ArcelorMittal in Germany and Region Västmanland in Sweden.
As we look forward, we can already see that our order backlog in 2018 is continuing to grow. Finland performed good during the fourth quarter, contributing with new business activity that will show effects in 2018. Our first year as a listed company has been challenging, but we see increased trust among our existing customers as well as customers in the new markets. We are convinced that a number of our stakeholders will see the value of our offerings and our efforts. We are a few months behind our original schedule, but we have a well-functioning team in place that is hard at work building our network of potential customers and partners as well as further developing our services.
CEO Aino Health AB
This information is such information that Aino Health AB (publ) is obliged to make public pursuant to the EU Market Abuse Regulation. The information was submitted for publication, through the agency of the contact person set below, at 23 February, 2018 at 08:30 CET.
For more information, please contact:
Jyrki Eklund, CEO Aino Health
Tel: +358 40 042 4221. E-mail: email@example.com
About Aino Health (publ)
Aino Health is the leading solution provider in Corporate Health Management. The company’s complete system of IT-based services reduces sick leave, related costs and deliver long term prosperity, increased productivity and employee engagement by adopting health, wellbeing and safety as an everyday activity.
Aino Health AB (publ) is listed at Nasdaq First North Stockholm (Ticker: AINO). Erik Penser Bank AB, +46 8 463 83 00, is the Certified Adviser to the company.